Category: Others

CBDT Transfer Orders Of ACIT, DCIT, Addl CIT And Joint CsIT

The CBDT has vide Order No. 55 of 2017 dated 24.04.2017 ordered the postings and transfers of several officers in the grade of Assistant / Deputy Commissioner of Income Tax with immediate effect and until further orders.

The CBDT has vide Order No. 56 of 2017 ordered the postings and transfers of several officers in the grade of Additional/ Joint Commissioner of Income Tax with immediate effect and until further orders

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CBDT Chief Laments Non-Disposal Of Public Grievances And Warns AOs Of Adverse Action

Hon’ble Sushil Chandra, the Chairman of the CBDT, has addressed a letter dated 24.04.2017 to the top brass of the Income-tax department in which he has lamented that the CBDT is one of the Government Departments which receives the maximum number of public grievances. He has also lamented the fact that the grievances are not attended to by the AOs and remain pending for inordinately long periods. Presently, there are 3431 pending grievances which include a large number of overdue grievances. The CBDT Chief has directed the top brass of the department to personally monitor the disposal of the grievances and warned that it will be given due importance while evaluating the annual performance of the officers

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Imp CBDT Circular Regarding Taxability Of Salaries Of Non-Resident Seafarers Credited To NRE Accounts Maintained With Indian Banks

The CBDT has issued Circular No. 13/2017 dated 11.04.2017 in which it has clarified the law regarding Liability to income-tax in India for a non-resident seafarer receiving remuneration in NRE (Non Resident External) account maintained with an Indian Bank. This Circular is important in view of the law laid down by the Kolkata Bench of the Tribunal in Tapas Kumar Bandopadhyay vs. DDIT where it was held that even if the salary of a non-resident seaman accrued outside India, it was taxable in India if the employer credited it to the assessee’s NRE account. In Utanka Roy vs. DIT (Calcutta High Court) it was clarified that salary received by a non-resident for services rendered abroad accrues outside India and is not chargeable to tax in India. The source of the receipt is not relevant.

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Assessing Officer Sentenced To 10 Years Imprisonment For Demanding Bribe Of Rs. 5 Lakh

The crackdown against corrupt officials of the income-tax department is continuing unabated. In the latest move, an Assessing Officer has been sentenced to imprisonment for 10 years for demanding and accepting a bribe of Rs. 5 lakh from a taxpayer

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CBDT Clarifies Imp Law On Cash Transaction Limits Imposed By Sections 269ST And 271DA

The CBDT has issued a press release dated 5th April 2017 by which it has provided important clarification regarding the restriction imposed on cash transaction by sections 269ST & 271DA inserted by the Finance Act 2017 to the Income-tax Act. These sections provide that no person (other than those specified therein) shall receive an amount of two lakh rupees or more (a) in aggregate from a person in a day; (b) in respect of a single transaction; or (c) in respect of transactions relating to one event or occasion from a person, otherwise than by an account payee cheque or account payee bank draft or use of electronic clearing system through a bank account. The CBDT has clarified that the said cash transaction limit of Rs 2 lakh will not apply to withdrawal from banks, cooperative bank and post offices

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Download Finance Act 2017

The Finance Act 2017 received the assent of the President on the 31st March, 2017. A copy is available for download. There are several important and radical amendments made by the Finance Act 2017 to the Income-tax Act 1961 and other statutes

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CBDT Orders Of Promotion Of Chief Commissioners And Appointment Of Assistant Commissioners Of Income-Tax

The CBDT has vide Order No. 46 of 2017 dated 31.03.2017 promoted several officers to the grade of Chief Commissioner of Income-tax [HAG + scale of pay (Rs. 75,500 – 80,000) (pre-revised) w.e.f. the date of assumption of charge of the post.

The CBDT has vide Order No. 45 of 2017 dated 31.03.2017 appointed several officers as Assistant Commissioners of Income-tax in the pay scale of Rs. 15,600 – 39,100 on completion of training at National Academy of Direct Taxes (NADT).

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CBDT Appoints IRS Officers As ACsIT And Promotes ACsIT To DCsIT

The CBDT has issued two notifications, both dated 29th March 2017, relating to the appointment of Assistant Commissioners of Income-tax and the promotion of Assistant Commissioners to the grade of Deputy Commissioners of Income-tax

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CBDT Stipulates Guidelines For Waiver Of Interest Charged U/s 201(1A)(i) Of The Income-tax Act, 1961 For TDS Default

The CBDT has issued Circular No. 11/2017 dated 24.03.2017 which encompasses an Order u/s 119(2)(a) of the Income-tax Act, 1961. By the said Circular, the CBDT has stipulated guidelines for waiver of interest charged under section 201(1A)(i)of the Income-tax Act, 1961 for failure / default in deducting TDS under Chapter XVIIB of the Act. The CBDT has specified the class of cases in which the reduction or waiver of interest u/s 201(1A)(i) can be considered

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CBDT Launches Manhunt To Locate ‘Absconding’ IRS Officers

The CBDT has made the surprising announcement that a number of high-level IRS and Group A service officers are presently “absconding” or are on “unauthorized leave”. A high-level committee has been formed to locate these officers. However, why any IRS officer in his right mind would want to abscond and forego the immense privileges and perquisites that he enjoys at the cost of the exchequer will require to be separately probed

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