central board of direct taxes

NEW DELHI: Finance minister Nirmala Sitharaman urged tax officials on Friday to ensure transparency and remove any scope for discretion and said introduction of the Goods and Services Tax(GST) has ushered in compliance and helped remove…

Gift cards, vouchers, mileage points, reward points, and loyalty cards will be excluded from the definition of virtual digital assets (VDAs), Central Board of Direct Taxes (CBDT) said in a notification issued late Thursday. This will…

The income tax department on Tuesday said both buyer and seller will have to withhold taxes for transactions involving an exchange of one virtual asset for another. Issuing a further set of clarification, the Central Board of Direct…

IRS officer Nitin Gupta has been appointed as the new CBDT chairman, a recent government order said. Gupta, an Indian Revenue Service (IRS) officer of the 1986 batch of the Income Tax cadre, is serving as the Member (investigation) in…

The Income Tax department has detected unaccounted income of over Rs 100 crore after it recently raided a diversified business group engaged in the export of handicraft and real estate among others, the CBDT said on Tuesday. The searches…

Looking to address the concerns of taxpayers about high-pitched assessments under the faceless scheme, the revenue department has asked the Central Board of Direct Taxes (CBDT) to initiate strict action against officials for slapping…

The net direct tax collections till mid-June this fiscal increased 45 per cent to over Rs 3.39 lakh crore, buoyed by decent advance tax mop-up, the Income Tax department said on Friday. The net direct tax collection of over Rs 3.39 lakh…

The income tax department on Thursday said it has issued revised instruction, which provides for initiation of suitable administrative action against the officer concerned, in cases of high-pitched assessments. In 2015, the Central Board…