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GST On Legal Services – Clarification By Finance Ministry

The Finance Ministry has issued important clarification by way of a press release dated 15th July 2017 regarding the controversy whether legal services are subject to GST or not

Posted in All Information, Others

CBDT To Reward AOs For ‘Innovative Ideas’ Even As Pr. CIT Caught By CBI For Corruption

The CBDT has instituted a scheme for awarding income-tax employees for “innovative ideas” and “special efforts” in their work. However, the baffling aspect is that the CBDT has turned a blind eye to the rampant corruption being carried on under its nose. In the latest episode, four high-ranking officials, including a Principal Commissioner of Income-tax, have been caught by the CBI for alleged corruption

Posted in All Information, Others

Bombay High Court’s Tax Bench Constitution w.e.f 10.07.2017

The Constitution of the Bombay High Court’s Tax Bench w.e.f 10.07.2017 is as follows

Posted in All Information, Supreme Court/High Court related

CBDT Guidelines For Selection Of Cases For Scrutiny During FY 2017-18

The CBDT has issued Instruction No. 5/2017 dated 7th July 2017 by which it has laid down the procedure and criteria for compulsory manual selection of returns/cases requiring scrutiny during the financial-year 2017-2018. It is also stated that cases are also being selected under CASS-2017 (Computer Aided Scrutiny Selection) on the basis of broad based selection filters and in a non-discretionary manner in two categories of Limited Scrutiny & Complete Scrutiny

Posted in All Information, Others

CBDT Vows To Reduce Pending Tax Litigation In CIT(A), ITAT & Courts On War Footing

The CBDT has released the “Central Action Plan for 2017-18” in which it has inter alia dealt with the issue of “litigation management’. The CBDT has laid out a clear cut strategy for reducing appeals pending before the CIT(A), ITAT and Courts. Systematic targets have been set out in which the number of appeals with time-frame for disposal are specified

Posted in All Information, Others

CBDT Chief Fumes At Poor Collection Of Taxes In FY 2017-18

Hon’ble Sushil Chandra, the Chairman of the CBDT, has addressed a stern letter dated 6th July 2017 in which he has pointed out that the growth in revenue is not satisfactory on several parameters. The learned Chairman has given facts and figures to support his proposition. He has directed all officers to take all measures to increase revenue collection and also stated that if revenue is not forthcoming from one Head/ source, alternate sources may be concentrated upon to make up for the deficit

Posted in All Information, Others

CBDT Transfer & Posting Orders Of Commissioners Of Income-tax

The CBDT has vide Order No. 113 of 2017 dated 04.07.2017 ordered the postings and transfers of several officers in the grade of Commissioner of Income-tax with immediate effect and until further orders

Posted in All Information, Others

CBDT Notifications Reg Exemptions From Prohibition Of Cash Receipts U/s 269ST + Amendments To S. 44AB/ Form 3CD Audit Report

The CBDT has issued Notification No. 57 /2017 dated 3rd July 2017 by which it has specified several transactions which are exempt from the provisions of section 269ST which prohibits cash receipt of Rs. 2 lakhs

The CBDT has issued Notification No. 58/2017 dated 3rd July 2017 by which amendments to the tax Audit report Form required to be issued in Form 3CD have been carried out so as to incorporate details of loans, deposits and advances which are covered by sections 269SS and 269T. The amendments are effective from 19th July 2017

Posted in All Information, Others

CBDT Notification Reg Aadhaar And PAN Intimation U/s 139AA Of The I. T. Act, 1961

The CBDT has issued Notification No. 7 of 2017 dated 29th June 2017 in which it has specified the procedure for intimating the AADHAAR number to the Income-tax Department by Permanent Account Number (PAN) holder and quoting of the same in PAN applications in compliance of section 139AA of the Income-tax Act, 1961

Posted in All Information, Others

CBDT Transfer & Posting Orders Of Additional, Joint & Principal CsIT

The CBDT has vide Order Nos. 110 and 111 of 2017, both dated 27.06.2017, ordered the postings and transfers of several officers in the grade of Additional, Joint and Principal Commissioner of Income-tax with immediate effect and until further orders

Posted in All Information, Others

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