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Hon’ble Delhi High Court directs CBDT to notify Income tax Return forms on or before beginning of assessment years, however refuses to extend due date of filing income tax returns and tax audit report for Assessment Year 2015-16.
Government accepts the report of the A.P. Shah Committee as regards inapplicability of MAT provisions prior to 1.4.2015 in cases where there is no permanent establishment.
MCA vide its circular number 12/2015 dated September 01, 2015 has further extended the last date of filing of Form CRA-4 without any penalty/late fee upto 30th September, 2015.
In a surprise move yesterday ,HDFC Bank has cut its base rate by 35 bps to 9.35%. This base rate reduction may compel other banks to re-look at their lending rates and follow suit.
CBDT has announced new norms for granting reward to informants leading to tax recovery from the defaulters. As per the new norms, the informant will be entitled to reward equivalent to 10% of the tax recovery directly attributable to the information supplied by the informant, subject to a ceiling of Rs. 15 lakh.
CBDT has directed that Additional Commissioners of Income-tax and Joint Commissioners of Income-tax shall perform the functions of Assessing Officers under the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015
In order to promote ease of reporting of transactions under FDI, Government has enabled online filing of form FCTRS for transfer of shares between NRs and residents via e-Biz portal
CBDT notifies Rules for the purpose of FATCA entered into between India and USA
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