Ministry of Finance Considering the large-scale disruption of Internet Services in the North Eastern States-Assam, Tripura, Arunachal Pradesh, Meghalaya, Nagaland, Manipur and Mizoram, the Central Board of Direct Taxes, in exercise of powers conferred under clause (a) of sub-section (2) of section 119 of the Income-tax Act, 1961, has decided to extend the last date…...
Income Tax Department conducts search & survey operations on Share Brokers/Traders across India
Ministry of Finance On 3rd December 2019, the Income Tax Department carried out search and survey operations on certain share-brokers/traders who were involved in facilitating accommodation of profits/loss through reversal trades in illiquid stock optionsin Equity Derivative Segment and alsoCurrency Derivative Segment on Bombay Stock Exchange (BSE). Over 39 locations spread across Mumbai, Kolkata, Kanpur, Delhi,…...
Cabinet approves extension of the term and coverage of the Fifteenth Finance Commission and submission of two reports by the Finance Commission
Ministry of Finance The Union Cabinet chaired by Prime Minister Shri Narendra Modi today approved the Fifteenth Finance Commission to submit first report for the first fiscal year viz. 2020-21 and to extend the tenure of XV-FC to provide for the presentation of the final report covering FYs 2021-22 to 2025-26 by 30th October, 2020. The…...
Cabinet approves Agreement and Protocol between India and Chile for the avoidance of double taxation
Ministry of Finance The Union Cabinet chaired by Prime Minister Shri Narendra Modi today approved the signing of the Double Taxation Avoidance Agreement (DTAA) and Protocol between the Republic of India and the Republic of Chile for the elimination of double taxation and the prevention of fiscal evasion and avoidance with respect to taxes on…...
Income Tax Department conducts search on a prominent business group in Delhi
Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes Income Tax Department conducted search operation on a group based in Delhi in connection with tax evasion and money laundering. The group is engaged in various e-governance projects and financial services. It has presence across several cities in India and also…...
Condonation of delay under Section I I9(2)(b) of the Income-tax Act
Circular No. 9/2015 F.No.3 12/22/2015-01 Government ot'India Ministry of Finance Department of Revenue Central Board of Direct Taxes Dated: 9th June, 2015 Subject: Condonation of delay in filing refund claim and claim of carry forward of losses under Section I I9(2)(b) of the Income-tax Act In supersession of all earlier Instructions/Circulars/Guidelines issued by the Central…...