government · 8 records
Central Board of Direct Taxes
ITAT quashes tax reassessment notice issued after legal deadline
The ITAT Bangalore quashed a tax reassessment order for a retired teacher because the notice was issued after the legal limitation period expired.
Net direct tax collection reaches 12.12 trillion rupees by September 17
India's net direct tax collection grew by 13 percent to 12.12 trillion rupees between April 1 and September 17.
SC to decide fate of reassessment notices affecting taxpayers
The Supreme Court of India is set to review a challenge against a high court ruling that invalidated an income tax provision regarding reassessment notices.
CBDT extends tax valuer practitioner registration deadline to March 2027
The Central Board of Direct Taxes has extended the registration deadline for tax valuers and practitioners to March 2027.
Sports Minister announces Task Force to assess F1 revival in India
Indian Sports Minister Mansukh Mandaviya has formed a task force to evaluate the possibility of hosting a Formula 1 race in India by 2028.
Parliamentary panel seeks impact data on new income tax regime
A Parliamentary Standing Committee on Finance criticized the Income Tax regime for being punitive and overreaching, seeking data on the new Income Tax Act's impact including revenue collection and litigation.
Disputed tax demand falls after hike in appeal monetary thresholds
Increased monetary thresholds for filing tax dispute appeals resulted in a reduction of approximately 16,690 crore rupees in disputed tax demand as reported to Parliament.
Central Board of Direct Taxes mandates reporting for cross-border crypto transactions
The Central Board of Direct Taxes in India issued guidance notes requiring crypto exchanges to report cross-border transactions, aiming to increase transparency and curb illegal activity.