Category Archives: Direct Tax
CBDT Lays down process for intimating taxpayers & seeking response on proposed adjustments us 143(1)(a)(vi)
CBDT lays down process & scenario(s) for seeking response of taxpayers to proposed adjustments u/s 143(1)(a)(vi) for addition of income appearing in Form 26AS or Form 16 or 16A which is not included in computing income in ITR.
Country-by-Country reporting requirement – CBDT notifies Final Rules: (For International groups/entities – Indian & Foreign) Finance Act, 2016 had amended Section 92D of the Income-tax Act, 1961 (‘the Act’) and introduced Section 286 to provide certain requirements regarding keeping, maintaining … Continue reading
CBDT issues clarification (Circular dt. 23 Oct’ 17) on POEM applicability to multinational companies with regional headquarter structure wherein certain employees having multi-country responsibility or oversight over the operations in other countries of the region are working from India;
CBDT has launched e-assessment pilot in 7 cities for time-barring cases; Gives taxpayers ‘opt-out’ choice
CBDT has launched e-assessment pilot in 7 cities for time-barring cases; Gives taxpayers ‘opt-out’ choice IT department has issued order covering various aspects of conducting scrutiny assessments electronically in cases which are getting barred by limitation during FY 2017-2018; The … Continue reading
CBDT has notified amended Rule 11UA prescribing method of valuation of fair market value (‘FMV’) of unquoted equity shares for the purpose of section 56(2)(x) . Section 56(2)(x) provides that where any person received any property without consideration or for … Continue reading