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04 Jun 2020

India among 10 nations set to face USTR probe for taxing digital service companies

While still in its initial stages, experts said that in the backdrop of an increasingly crippled WTO, the move could signal the start of more unilateral action by the Donald Trump administration.

03 Jun 2020

Flipkart investor’s stake sale a bid to avoid tax: Authority of Advance Ruling

The AAR Mumbai bench’s decision means other investments that were routed through Mauritius too could come under the scrutiny of tax authorities in India if the investors seek to claim benefits under the grandfathering clause. This clause allows investors to seek tax exemption on investments made prior to 2016.

The AAR Mumbai bench’s decision means other investments that were routed through Mauritius too could come under the scrutiny of tax authorities in India if the investors seek to claim benefits under the grandfathering clause. This clause allows investors to seek tax exemption on investments made prior to 2016.

27 May 2020

CBDT notifies revised Form 26AS, to now include real estate, share transaction details

Form 26AS is an annual consolidated tax statement that can be accessed from the income-tax website by taxpayers using their Permanent Account Number (PAN). The revamped Form 26AS will now come into effect from June 1, the Central Board of Direct Taxes (CBDT) said.

Form 26AS is an annual consolidated tax statement that can be accessed from the income-tax website by taxpayers using their Permanent Account Number (PAN). The revamped Form 26AS will now come into effect from June 1, the Central Board of Direct Taxes (CBDT) said.

14 May 2020

In relief for taxpayers, deadline to file ITRs extended

  • The deadline for filing ITR by taxpayers whose accounts are required to be audited has also been extended till 31 October from the usual 30 September
  • Period of the Vivad Se Vishwas scheme for making payments without additional amounts also extended till 31 December
 
07 May 2020

Govt amends I-T rules for faster resolution of MNCs' tax disputes

The Central Board of Direct Taxes (CBDT) has amended Rule 44G dealing with application and procedure for giving effect to MAP agreement, and also revised Form 34F with respect to making application to the competent authority for invoking MAP. As many as 600 tax disputes were resolved under MAP between April 1, 2014, and December 31, 2018.

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