Tag: central board of direct taxes
SEBI seeks CBDT clarity on tax role of authorised representatives of FPIs
Mumbai: India’s capital market regulator has asked the apex tax body to spell out its stand on a vexing question that foreign portfolio investors (FPIs)…
India grandfathered gains from investments made before April 2017
The Central Board of Direct Taxes said income from the transfer of investments made before April 1, 2017 will remain outside the ambit of general…
New I-T Act framework notified; taxpayer relief with stricter compliance from April 1
New Delhi: The Central Board of Direct Taxes on Friday notified the rules to operationalise the new simplified Income Tax Act, with a mix of…
India and France revise 1992 tax treaty, drop ‘most favoured nation’ clause
New Delhi: India and France signed a protocol to revise their 1992 tax treaty, tightening source-based taxation, scrapping the most favoured nation (MFN) clause and…
New I-T rules, forms by March; Income Tax Act to take effect from April 1, 2026
New Delhi: The income tax department will notify the new income tax rules and forms by the first week of March, officials said, paving the…
Govt to form panel to align tax, accounting rules and cut India Inc compliance burden
New Delhi: The corporate affairs ministry and Central Board of Direct Taxes (CBDT) will jointly set up a panel by March-end to pursue aligning tax…
61,000 crorepati taxpayers added in last one year
New Delhi: India added 61,000 new crorepati taxpayers in the last one year, taking the total number of individuals with taxable income of ₹1 crore…
CBDT flags bogus claims on political and charitable donations
New Delhi: The Central Board of Direct Taxes Saturday said it has found widespread misuse of tax deductions linked to political donations and charitable contributions…
CBDT NUDGE 2: Over 25,000 taxpayers to receive alerts on foreign assets; Check details to avoid penalties
The Central Board of Direct Taxes (CBDT) on Thursday announced the launch of the second phase of its NUDGE initiative, designed to strengthen voluntary compliance…
Income Tax dept identifies cases of non-disclosure of foreign assets in ITRs, to start sending SMS/emails
The Income Tax department on Thursday said it has identified “high-risk” cases where individuals have not reported foreign assets in the income tax returns (ITRs)…