Latest Expert Exchange Queries

GST Demo Service software link:
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft
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) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
Popular Search: cpt :: TAX RATES - GOODS TAXABLE @ 4% :: due date for vat payment :: VAT Audit :: Central Excise rule to resale the machines to a new company :: ARTICLES ON INPUT TAX CREDIT IN VAT :: empanelment :: TDS :: ACCOUNTING STANDARD :: articles on VAT and GST in India :: form 3cd :: ACCOUNTING STANDARDS :: VAT RATES :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: list of goods taxed at 4%
Direct Tax »
 CBDT to prescribe deadline for MNC units to file details of operations in certain cases
 Filing your return may not mean the end of tax issues
 Filing tax return before March 31? Here is what you should do and what not
 CBDT invites suggestions to draft new Direct Tax Law
 Deadline For Income Tax Returns Filing Only 12 Days Away. 10 Points
 Income Tax: E-assessment ensures greater efficiency in the taxation system
 10 Points Deadline For Income Tax Returns Filing Only 2 Weeks Away.
 Income tax returns (ITR) filing: A step by step guide to check your ITR status online and offline
 How to save tax; amazing tips to make your money stay in your wallet Income tax returns (ITR) filing
 Want to save tax? Here are the best options
 Suggestion For Option To Assessee For Higher And Lower TDS/TCS For Optimization Of Tax Collection And Refunds

CBDT ups monetary limit for court appeal by I-T
December, 15th 2015

In order to cut down on frivolous litigation and taxpayers grievances, the Central Board of Direct Taxes (CBDT) has issued fresh directions revising the monetary threshold for the taxman to appeal at two important legal forums - Income Tax Appellate Tribunal (ITAT) and high courts.

The CBDT, which formulates policies for the income tax (I-T) department, has issued a fresh directive asking the department to go into appeal at the ITAT, only when the "tax effect" in question is Rs 10 lakh (from earlier Rs 4 lakh) and Rs 20 lakh (from earlier Rs 10 lakh) if the appeal is to be filed in a high court.

The monetary limit for filing appeals or Special Leave Petitions in the Supreme Court have been kept unchanged at Rs 25 lakh.

There are four essential forums under law which a taxpayer can approach against an I-T assessment order - beginning from the Commissioner of I-T (Appeals), ITAT, high court and finally, the apex court.

These limits were last revised in the middle of last year and official sources said the exercise has been conducted again and fresh directions issued for better management of litigation in the department, for which it has received a lot of flak in the past from different quarters, including parliamentary committees and the Comptroller and Auditor General.

The board has also directed that the new notified threshold should not be the only determining factor while tackling revenue cases, but the "merit" of a case should be given utmost importance.

"It is clarified that an appeal should not be filed merely because the tax effect in a case exceeds the monetary limits prescribed above. Filing of appeal in such cases is to be decided on merits of the case," the CBDT directives issued on December 10 said.

Email project between IT dept, taxpayer delayed

The rollout of an ambitious pilot project of Income Tax(I-T) department to begin paperless and email-based communication with taxpayers has been delayed, as many chosen tax offices have not sent the required data to the Central Board of Direct Taxes (CBDT) even after over a month-and-a-half of the go-ahead. The CBDT, in October, had chosen Delhi, Mumbai, Bengaluru, Ahmedabad and Chennai tax ranges for the initial beginning of the project , where the cases of 100 chosen and willing assesses, who are facing scrutiny action, would be dealt over email. "Except the Chennai range, the other four field units are yet to send the selected five non-corporate ranges in their jurisdiction," a senior official said.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Application Management Solutions Application Management System Application Management Software System Application Management Development Application Management Software Development

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