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14 Jun 2019

CBDT issues new guidelines for compounding

This article talks about the latest guidelines from Central Board of Direct Tax (CBDT) for compounding of offences which is shutting down the window for Money laundering, Non- disclosure of foreign assets and also black money. 

29 May 2019

Need to pay capital gains on non-rural agricultural land developed as housing layout

The article tells that if the agricultural land under question falls within the definition of rural agricultural land, i.e., falls within the specified limits of the nearest municipal authorities, then it is not considered a capital asset.

21 May 2019

I-T Dept proposes to seek more details on foreign donations from trusts

This article talks about Notification issued by CBDT to amend form 10B, by seeking more details in Audit report including foreign donations received by trusts and instituttions claiming deductions.

14 May 2019

I-T dept again defers GST, GAAR reporting in tax audit report till March 2020

This article talks about new update from the Income Tax department that defers Goods and Service tax and GAAR details for companies to include in their tax audit report. 

13 May 2019

I-T officers to fast track disposal of appeal cases; look into taxpayer grievances between May 16-31

This article talks about expeditious disposal of appeal cases by the Income Tax department that will also look into taxpayer grievances between May 16-31

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