STT on derivative contracts | Bombay High Court Judgement | CBDT Clarification

CBDT is of the view that where a derivative contract is being settled by physical delivery of shares, the transaction would not be any different from transaction in equity share where the contract is settled by actual delivery or transfer of shares and the rates of STT as applicable to such delivery based equity transactions shall also be applicable to such derivative transaction Read More …

CBDT issues Circular on amendment of Tax Audit Report

Press Information Bureau Government of India Ministry of Finance 18-August-2018 12:50 IST CBDT issues Circular on amendment of Tax Audit Report Section 44AB of the Income-tax Act, 1961 (‘the Act’) read with Rule 6G of the Income-tax Rules, 1962 (‘the Rules’) requires prescribed persons to furnish the Tax Audit Report along with the prescribed particulars Read More …

CBDT Circular No. 4/2018 | Computation of admissible deduction u/s 10A of the Income Tax Act, 1961

As per the provisions of sub-section (4) of section 10A of the Income Tax Act, 1961 (the ‘Act”), the profits derived from export of articles or things or computer software shall be the amount which bears to the profits of the business of the undertaking, the same proportion as the export turnover in respect of such articles or things or computer software bears to the total turnover of the business carried on by the undertaking Read More …

CBDT Office Memorandum On Decentralization Of Cases Under Insolvency & Bankruptcy Code 2016

The CBDT has issued an Office Memorandum with regard to cases under Insolvency & Bankruptcy Code 2016. The OM harmonizes the guidelines under the OM dated. 16.01.2018 with Circular No. 5/2009 dated 02.07.2009 of CBDT Read More …

CBDT Press Release On Transfer Pricing APA

CBDT PRESS RELEASE, DATED: 01-03-2018 Mar 1, 2018 CBDT ACHIEVES IMPORTANT MILESTONE OF 200 APAS! The Central Board of Direct Taxes (CBDT) entered into seven more Advance Pricing Agreements (APAs) during the month of February, 2018. All the seven are Unilateral APAs. With the signing of these Agreements, the CBDT has crossed the important milestone Read More …

CBDT Obligation To Disclose RTI Information Explained

The latest judgement of the Delhi High Court in CENTRAL BOARD OF DIRECT TAXES versus SATYA NARAIN SHUKLA explains the law on the obligation of the CBDT to disclose information relating to verification of the affidavits filed by the Members of Parliament (MPs) and Members of Legislative Assembly (MLAs) disclosing their assets to the Election Commission Read More …