Central Board of Direct Taxes (CBDT)
CBDT (Central Board of Direct Taxes) is expected to notify later this week the constitution and terms of reference of a high- level committee, which will scrutinise all Income Tax cases emerging out of the retrospective amendment of the Act. This new mechanism was declared by the Finance Minister Arun Jaitley in the budget speech [...] Continue Reading »
The Finance Minister Arun Jaitley today stated that all the fresh cases arising out of the 2012 amendment of I-T Act would be looked into by a high level CBDT (Central Board of Direct Taxes) committee. He also mentioned that retrospective amendments to tax laws will be undertaken with extreme caution and the investors need not [...] Continue Reading »
The Revenue Department has declared that it is going to introduce changes in the accounting standards for the real estate sector to bring about uniformity in reporting of financial results. The Central Board of Direct Taxes (CBDT) has stated that the report of the CBDT appointed committee on accounting standard for the real estate sector [...] Continue Reading »
