The CBDT has issued Circular No. 21/2016 dated 27.05.2016 in which has clarified that it shall not be mandatory to cancel the registration already granted u/s 11 to a charitable institution merely on the ground that the cut-off specified in the proviso to section 2(15) of the Act is exceeded in a particular year without there being any change in the nature of activities of the institution. If in any particular year, the specified cut-off is exceeded, the tax exemption would be denied to the institution in that year and cancellation of registration would not be mandatory unless such cancellation becomes necessary on the ground(s) prescribed under the Act. The CBDT has also advised field authorities that in view of the adverse consequences of Xii-B, the registration of a charitable institution granted u/s 12AA should not be cancelled just because the proviso to section 2{15) comes into play. The process for cancellation of registration is to be initiated strictly in accordance with section 12 (3) and 12AA(4) after carefully examining the applicability of these provisions

The CBDT has issued Circular No. 20/2016 dated 26.05.2016 stating that in order to mitigate any inconvenience caused to the taxpayers on account of the new requirement of mandatory e-filing appeals, it has been decided to extend the time limit for filing of such e-appeals. E-appeals which were due to be filed by 15.05.2016 can be filed up to 15.06.2016. All e-appeals filed within this extended period would be treated as appeals filed in time

The CBDT has issued a press release in which it has given details of the manner of determination of fair market value and reporting requirement for Indian concerns covered by the indirect transfer provisions of section 9(1) of the Income-tax Act, 1961

The CBDT has issued a directive dated 24.05.2016 stating that from FY 2016-17 onwards, the names of defaulters where the undisputed outstanding demand/ tax exceeds Rs. 1 crore shall be published by 31st July

The CBDT has issued Circular No. 15/2016 dated 19.05.2016 in which it has dealt with the issue of allowability of additional depreciation u/s 32(1)(iia) of the Income-tax Act, 1961 in the context of the judgements of the Kerala and Delhi High Courts in Mathrubhoomi Printing & Publishing Co. and Delhi Press Patra Prakashan Ltd

The Ministry of Finance has issued a Notification dated 19th May 2016 enacting “The Income Declaration Scheme Rules, 2016” which are to come into force on 1st June 2016. The Ministry of Finance has issued another notification dated 19th May 2016 specifying the relevant dates for making the declaration and making payment of the tax etc. The CBDT has issued Circular No. 16 dated 20.05.2015 setting out the “Explanatory Notes On provisions Of The Income Declaration Scheme, 2016 As Provided In Chapter IX Of The Finance Act 2016“. The CBDT has also issued Circular No. 17 of 2016 by which it has provided “Clarifications on the Income Declaration Scheme, 2016”.

The CBDT has issued a directive dated 17th May 2016 in which it is noted that in certain cases orders passed by the CIC are not being complied with by the Income Tax Department. The CBDT has stated that in view of the fact that the orders of CIC are binding under the RTI Act, 2005 unless stayed or reversed by higher courts, all the concerned authorities / officers/ CPIOs should ensure that the orders passed by CIC in appeals and complaints under the RTI Act, 2005 are invariably complied with within the time fixed by the Commission, unless they are stayed or reversed by higher courts. It is warned that any deviation will be viewed adversely

The CBDT has issued the following orders of transfers and postings: (i) Order No. 90 of 2016 dated 16.05.2016 for postings and transfers of officers in the grade of Additional and Joint Commissioners of Income-tax; (ii) Order No. 91 of 2016 dated 16.05.2016 for postings and transfers of officers in the grade of Additional and Joint Commissioners of Income-tax; (iii) Order No. 92 of 2016 dated 16.05.2016 for postings and transfers of officers in the grade of Additional and Joint Commissioners of Income-tax; (iv) Order No. 93 of 2016 dated 16.05.2016 for postings and transfers of officers in the grade of Joint Commissioners of Income-tax (on promotion); (v) Order No. 94 of 2016 dated 16.05.2016 for postings and transfers of officers in the grade of Assistant Commissioners of Income-tax; (vi) Order No. 95 of 2016 dated 16.05.2016 for postings and transfers of officers in the grade of Assistant Commissioners of Income-tax;

The Narendra Modi Government has sent a bone-chilling warning to all income-tax officers that they will have to pay a steep price if they continue with their nefarious activities of harassing taxpayers with the illicit objective of extorting money from them

Taxmann has systematically analyzed the several amendments made to the Finance Bill 2016 at the stage of its being passed by the Lok Sabha. Several of the changes are of critical importance to taxpayers