CBDT Circulars On Prosecution Of Offenses And Compounding Of Offenses Under Direct Tax Laws
Circular No. 24 12019 F.No.2 85/08/2014-IT(Inv. V)/ 349 Government of India Ministry of Finance Department of Revenue (Central Board of Direct Taxes) ******* Room No....
CBDT Circular On Bogus Long-Term Capital Gain (LTCG)/Short Term Capital Loss (STCL) On Penny Stocks
Several references have been received by the Board that in large number of cases where organised tax-evasion scam is noticed through bogus Long-Term Capital Gain...
Guidelines for manual selection of returns for Complete Scrutiny during the financial-year 2019-20
Cases selected for ‘Limited Scrutiny’ but credible specific information has been/is received from any law- enforcement/intelligence/ regulatory authority or agency regarding tax-evasion in such cases,...
Modification by CBDT in the new system of approval in respect of application under section 197 of Income Tax Act
Various administrative and systematic difficulties related to such amount of revenue forgone under the newly introduced system of online application uls 195/197 of the LT....
CBDT Consolidated circular No. 22/2019 dt. 30.08.2019 for assessment of Startups
In order to provide hassle-free tax environment to the Startups, a series of announcements have been made by the Hon’ble Finance Minister in her Budget...
Taxation Of Startups – Angel Tax: Complete Guide
This is a guide to the levy of "angel tax" on start-ups. It summarizes the legislative amendments made to the Income-tax Act 1961 and also...
Ministry of Finance: Clarification on applicability of Tax Deduction at Source on cash withdrawals
The CBDT, having considered the concerns of the people, hereby clarifies that section 194N inserted in the Act, is to come into effect from 1st...
CBDT Circular: Withdrawal of Pending cases after Enhancement of Monetary Limits
The CBDT has stated that it is clear that the revised monetary limits so mentioned in circular 17/2019 is applicable, to all pending SLPs/ appeals/...
CBDT Clarification with respect to valuation of shares of Startup Companies involving application of Section 56(2)(viib) of the I. T. Act ,1961
Instances have come to the notice of the Board that substantial additions have been made by the AOs in “Start up Companies” involving issue of...
CBDT Clarification with respect to assessment of Start up Companies involving application of section 56(2)(viib) of the Income-tax Act, 1961
Instances have come to the notice of the Board that notices u/s 143(2)/147 have been issued by the Assessing Officers in respect of Startup Companies,...