Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: cpt :: VAT RATES :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ACCOUNTING STANDARD :: TAX RATES - GOODS TAXABLE @ 4% :: VAT Audit :: ACCOUNTING STANDARDS :: articles on VAT and GST in India :: form 3cd :: due date for vat payment :: Central Excise rule to resale the machines to a new company :: empanelment :: list of goods taxed at 4% :: TDS
 
 
Direct Tax »
 In some instances, filing of income tax return may not be mandatory
 Best 5 Income Tax-Saving SIP plans in India: How To save taxes by Investing in SIPs under 80C
 Tax refund checks are finally in the mail
 Income Tax dues in advance can be paid at RBI or at authorised bank branches by March 2017
 Why you must be looking beyond tax planning
 I-T dept. to lauch app for paying tax
 CBDT to taxman: Step up TDS survey operations to boost collections
 Tax Officers Asked To File Self-Appraisal Report On E-Assessment
 CBDT to taxman: Step up TDS survey ops to boost collections
 Govt to issue exemption list on new tax for unlisted firms
 CBDT issues third round of certificates to tax payers

CBDT notifies new IT authority
December, 18th 2015

The CBDT today notified the new Income Tax department authority which will now be empowered to receive due taxes and penalty from those who had availed the one-time compliance window under the latest anti-black money Act enacted by the government.

with effect from December 18, 2015 and until further orders, (CBDT) hereby directs that for the purposes of making declaration of undisclosed foreign assets under section 59 of the Black Money (Undisclosed Foreign Income and Assets) and matters related thereto, Shri Rahul Navin CIT (TP)-1, New Delhi shall be the designated Income Tax authority," the order said.

The new directive has been issued as Navin's predecessor in the Transfer Pricing(TP) division, who was in the post when the window was operational, has been posted out as Joint Secretary in the Finance Ministry.

"While the official address and other details of the said Income Tax Authority remain the same, only the officer in-charge has changed and hence the order has been issued for the clarity of those taxpayers who availed the 90 day one-time compliance window that ended on September 30," a senior official said.

The government has recently said it has collected Rs 16.69 crore as taxes and penalty till November 26 from those who have disclosed illegal wealth under the black money compliance window.

A total of 635 declarations worth Rs 4,160 crore of illegal wealth were made in the three-month compliance window.

The one-time window provided an opportunity to foreign assets holders to declare such assets, pay a total of 60 per cent tax and penalty and escape stringent provisions of the new black money law. The taxes and penalty have to be paid by December 31, 2015.

The Central Board of Direct Taxes is the policy-making body of the IT department.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Our Mission

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions