Tag: cbdt
CBDT receives around 1,100 applications under foreign assets disclosure scheme
New Delhi: About 1,100 taxpayers have filed applications under the voluntary disclosure of foreign assets scheme for small taxpayers in over two months since its…
CBDT mandates new disclosures for tax-free gains on govt securities
New Delhi: The Central Board of Direct Taxes (CBDT) has prescribed a disclosure requirement for taxpayers claiming exemptions on interest and capital gains from government…
CBDT exempts interest payments on rupee-denominated bonds issued by New Development Bank from TDS
The Central Board of Direct Taxes (CBDT) said in a notification issued on October 19 that it has exempted interest payments on rupee-denominated bonds issued…
CBDT nudges 12,000 tax professionals to file pending audit reports
New Delhi: The Central Board of Direct Taxes (CBDT) has expanded its data-driven SAKSHAM NUDGE campaign to tax professionals, reaching around 12,000 practitioners with targeted…
TDS norms eased for buying NRI property
NEW DELHI: The Central Board of Direct Taxes (CBDT) has eased tax deducted at source (TDS) compliance for resident individuals and Hindu undivided families (HUFs)…
CBDT removes arrest and imprisonment as prescribed route for tax recovery
Tax defaulters will no longer face arrest and detention as a prescribed recovery route to recover tax. The central board of direct taxes(CBDT) has amended…
Rejig of global tax reporting rules to cover digital finance
New Delhi: India has overhauled its global tax reporting framework to reflect the rapid evolution of digital finance, expanding foreign account tax compliance Act (FATCA)…
India’s direct tax body notifies Cost Inflation Index for this fiscal year
India‘s direct tax body has notified the Cost Inflation Index (CII), a tool to measure the rise in cost due to inflation, for fiscal year…
Foreign tax data to be included in Form 26AS
New Delhi: The Central Board of Direct Taxes (CBDT) has directed that financial account information received from overseas tax authorities be included in taxpayers’ Form…
CBDT exempts NCCL settlement fund from tax
New Delhi: The Central Board of Direct Taxes (CBDT) has granted income-tax exemption to the Core Settlement Guarantee Fund (CSGF) maintained by National Commodity Clearing…