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Tax Bar Met Revenue Secretary Dr. Hasmukh Adhia & CBDT Chairman Shri Sushil Chandra & Offered Valuable Suggestions On Reforms To Tax Laws

For the first time, the Government has taken very positive step inviting the tax professional organizations and tax professionals to have very interactive meeting with Honourable Finance Secretary, to consider suggestions on the Direct and Indirect taxes as a part of the budget preparatory exercise for the Financial Year 2018

CBDT Order: IRS Officers Appointed Joint Commissioners Of Income-tax

Vide Order No. 214 of 2017 dated 15th December 2017, the CBDT has stated that the President has extended the ad-hoc appointment of several IRS officers to the grade of Joint Commissioner of Income-tax from 16.10.2017 to 31.03.2018

CBDT Prescribes Procedure For Assessment Of Defective Returns Of Income Selected For Scrutiny Under CASS

The CBDT has issued a directive dated 12.12.2017 in which it has prescribed in detail the procedure to be followed by Assessing Officers for the assessment of defective returns in the context of section 139(9) of the Income-tax Act, 1961

CBDT Extends Due Date For E-Payment Of TDS And TCS

The CBDT has issued an Order dated 13.12.2017 under section 119 of the Act by which it has extended the due date for deposit of TDS and TCS. The extension has been granted owing to technical issues faced by NSDL’s gateway for e-payment of taxes

Bombay High Court’s Tax Bench Constitution w.e.f 11.12.2017

The Tax Bench of the Hon’ble Bombay High Court with effect from 11th December 2017 is as follows

Press Release Reg Suspension Of Dy CIT For Demanding Bribe And Harassing Taxpayer In Scrutiny Case

The Ministry of Finance has issued a press release dated 8th December 2017 stating a complaint was received making serious allegations against a Deputy Commissioner of Income Tax for harassing a taxpayer in a scrutiny case with malafide intention. The officer was alleged to have demanded bribe through the taxpayer’s Chartered Accountant for favourably completing the assessment. It is stated that on examination of the case records, serious lapses and irregularities were found which led credence to the allegations made against the officer. It is stated that the Department has zero tolerance to such malpractices and corruption and that pending investigation, the officer has since been placed under suspension

Press Release + S. 119 Order Reg Extension By CBDT Of Due Date For Linking Of Aadhaar With PAN

The Ministry of Finance has issued a press release dated 8th December 2017 together with an order of the same date issued u/s 119 of the Income-tax Act, 1961 (the Act) stating that the due date under section 139AA for taxpayers having Aadhaar Number or Enrolment Number to link the same with Permanent Account Number (PAN) has been extended till 31.03.2018

IRS Officers, Accused By CBI Of Corruption, Appointed Chief Commissioners Of Income-tax

According to a press report, two IRS Officers, who are accused by the CBI in a FIR of having received bribes of Rs. 5 crore each from a company named Sterling Biotech, have been empaneled as Chief Commissioners of Income-tax. Both officers have been interrogated by the CBI and the investigation is still going on. Citizens have expressed shock as to how such allegedly tainted officials have been appointed to high positions of power and influence

CBDT Suspends AO For Converting Ltd Scrutiny Into Full Scrutiny With Mala Fide Intention

The CBDT has sent a strong message to all unscrupulous AOs that it will no longer tolerate their shenanigans of harassing taxpayers with a view to extort bribes. The usual modus operandi of such AO’s is to conduct roving inquiries and threaten to make huge additions unless the hapless taxpayer agrees to pay a bribe. The CBDT has put an end to this nefarious practice by directing that all cases where a limited scrutiny is converted into a full scrutiny should be backed with an order sheet entry in which reasons are given. The approval of the Pr CIT has also been made a precondition. An officer who defied this directive has been placed under suspension as his action gave rise to a “very strong suspicion of mala fide intentions

Taxpayers welcome setting up of Task Force for drafting new Direct Tax Legislation

The decision of the Government to set up a high-level task force to draft a New Direct Tax Legislation has been welcomed by tax professionals and taxpayers. It is appreciated that experienced professionals with an in-depth and practical understanding of Direct Taxes have been inducted into the task force. Their contribution towards the drafting of the new legislation will be invaluable

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