CBDT signs record deals with businesses to avoid tax disputes
[ad_1] The Central Board of Direct Taxes (CBDT) has signed a record number of deals with businesses in FY24 seeking to avoid audit of their cross-border transactions that meet certain…
CBDT drops small tax demands but not TCS, TDS claims
[ad_1] New Delhi: Central Board of Direct Taxes (CBDT) on Monday ordered withdrawal of small tax demands that finance minister Nirmala Sitharaman had announced in her FY25 budget speech to…
Insurers under IT scanner, likely to receive ₹25,000 cr worth tax notices
[ad_1] Multiple insurance companies are expected to come under the Income Tax department’s scanner for paying higher commissions to intermediaries and claiming higher deductions. The IT department is likely to…
Higher cash seizures being recorded by I-T dept every assembly polls: CBDT
[ad_1] Cash seizures have scaled up during the Assembly elections, Central Board of Direct Taxation (CBDT) Chairman Nitin Gupta said. Besides, huge unaccounted currency and jewellery have also been unearthed…
CBDT amends safe harbour norms for MNC group transactions
[ad_1] NEW DELHI : The Central Board of Direct Taxes (CBDT) has amended the Income Tax rules to liberalize the ‘safe harbour’ norms that allow multinational companies to avoid rigorous…
Will exceed tax collection target this year, says CBDT chairman
[ad_1] New Delhi: The government will exceed its direct tax collection target of ₹18.23 trillion this fiscal, going by the healthy revenue growth so far, Central Board of Direct Taxes…
11.5 crore PAN cards deactivated due to Aadhaar non-linking, report shows
[ad_1] PAN-Aadhaar linking news: The Central Board of Direct Taxes (CBDT) while replying to a Right to Information (RTI) request stated that about 11.5 crore PAN cards were deactivated in…
Income Tax department gives businesses more time to claim lower rate for FY21
[ad_1] New Delhi: The Income Tax department on Monday condoned companies’ delay in filing a key form while claiming the benefit of a lower corporate tax rate without incentives for…
Profits of big biz surged in FY21, when economy contracted
[ad_1] New Delhi: Large established businesses have not only withstood the economic contraction induced by the coronavirus pandemic in FY21, but posted strong double-digit growth, more than making up for…
22% jump in net direct tax revenue in H1 FY24: Official
[ad_1] New Delhi G20 countries are working on automatic exchange of data related to undisclosed “immovable properties” abroad, says Nitin Gupta, CDBT chairman. (HT Archive) Access to data of “undisclosed”…