Category: Others

CBDT Orders Of Transfers And Postings Of Asst/ Dy/ Addl And Joint CsIT

The CBDT has vide Order Nos. 200 and 201 of 2017 dated 16.11.2017 ordered the postings and transfers of several officers in the grade of Assistant, Deputy, Additional and Joint Commissioner of Income-tax with immediate effect and until further orders

CBDT Chief Lambastes Dept For Failure To Redress Public Grievances In Timely & Proper Manner

Hon’ble Sushil Chandra, the Chairman, CBDT & Special Secretary to the Government of India, has addressed an irate letter dated 14th November, 2017 to all Pr. Chief Commissioners and Director Generals in which he has expressed grave dissatisfaction at the failure of the department to redress public grievances (CPGRAMs) in a timely & proper manner

CBDT Order Promoting ITOs To Grade Of Assistant Commissioners Of Income-tax

The CBDT has issued Order No. 196 of 2017 dated 13th November 2017 by which it has stated that the President has appointed several Income Tax Officers To the grade of Assistant Commissioner f Income-tax (ACIT) on ad hoc basis in the pay matrix of Rs. 56,100-1,77,500 with immediate effect and for a period of one year

CBDT Circular Of Clarification On Indirect Transfer Provisions In Case Of Redemption Of Share Or Interest Outside India

The CBDT has issued Circular No.28/2017 dated 7th of November 2017 in which it has provided important clarification on Indirect Transfer provisions in case of redemption of share or interest outside India under the Income-tax Act, 1961

CBDT Circular Clarifies Law On Cash Sale Of Agricultural Produce By Cultivators/Agriculturists

The CBDT has issued Circular No. 27/2017 dated 3rd November 2017 in which it has provided clear-cut clarification to queries relating to the applicability of income-tax provision (such as s. 40A(3), s. 269T and Rule 114B) to cash sale of agricultural produce by cultivators/agriculturists to traders

CBDT Order Of Promotion Of Addl CsIT To Commissioners Of Income-tax

The CBDT has vide Order No. 189 of 2017 dated 31.10.2017 promoted several officers in the grade of Additional Commissioner of Income-tax to the grade of Commissioner of Income-tax (level 14 in the pay matrix of Rs. 144,200 – 2,18,200)

CBDT Circular Of Clarification Related To Guidelines For Establishing ‘Place Of Effective Management’ (PoEM) In India

The CBDT has issued Circular No 25 of 2017 dated 23rd October 2017 by which it has provided clarification related to guidelines for establishing ‘Place of Effective Management’ (PoEM) in India. The CBDT has in particular addressed concerns that as per the extant guidelines, PoEM may be triggered in cases of certain multinational companies with regional headquarter structure merely on the ground that certain employees having multi-country responsibility or oversight over the operations in other countries of the region are working from India, and consequently, their income from operations outside India may be taxed in India

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CBDT Promotes Commissioners To Principal Commissioners Of Income-tax

The CBDT has vide Order No. 181 of 2017 dated 24th October 2017 promoted several officers in the grade of Commissioner of Income-tax to the grade of Principal Commissioner of Income-tax (level 15 in the pay matrix of Rs. 1,82,200 to 2,24,100) against the panel year 2016-17 w.e.f. the date of assumption of charge of the post and until further orders

CBDT Issues Draft Notification Reg Re-Registration U/s 12A By Charitable Trusts After Amendment Of Objects

Vide Finance Act, 2017, a new clause (ab) was inserted in sub-section (1) of section 12A of the Income-tax Act, 1961 (‘the Act’) w.e.f 01.04.2018 to the effect that where a trust or an institution, which has been granted registration under sections 12A or 12AA of the Act has subsequently adopted or undertaken modification of the objects and such modification does not conform to the conditions of such registration, then such trust or institution shall be required to obtain registration again by making an application within a period of thirty days from the date of such adoption or modification of the objects. The CBDT has issued a draft notification to amend Rule 17A and Form 10A and has invited comments from stakeholders and the general public

CBDT Explains Imp Law On Scope Of Adjustments U/s 143(1)(a) To Returned Income

The CBDT has issued Instruction No. 9/2017 dated 11th October, 2017 in which it has explained the scope of clause (vi) of sub-section (a) of section 143(1) of the Income-tax Act, 1961 (`Act’) as introduced vide Finance Act, 2016, w.e.f. 01.04.2017. The said provision prescribes that while processing the return of income the total income or loss shall be computed after making adjustment of addition of income appearing in Form 26AS or Form 16A or Form 16 (the three Forms) which has not been included in computing the total income in the return

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