CBDT
Angel tax has been at the forefront of the concerns highlighted by the country’s start-up ecosystem as the fund raised by these companies came under the purview of taxation.
Elimination of angel tax to uplift sentiment in the start up community
27 Aug 2019 10:07 AM

These steps shows government’s resolve towards ease of doing business in India and encourage entrepreneurship.

CBDT circular with this effect 'brings in more safeguard by requiring assessing officers to procure his or her supervisor's consent before starting on any inquiry under the angel tax provision against a start-up company which has not got DPIIT approval,' S. Vasudevan, Partner, Lakshmikumaran & Sridharan said.
CBDT's procedure for pending angel tax assessment cases to help startups: Experts
16 Aug 2019 10:18 AM

Government is seeking to calm the nerves of startups worried about angel tax.

On long term capital gains, it said tools for computation of LTCG have been provided in the departmental utility for the convenience of taxpayers.
CBDT issues FAQs on filing tax returns to help taxpayers
12 Aug 2019 10:35 AM

The FAQs are based on the queries received by the CBDT to help assessees file ITRs.

The move followed after certain startups complained about facing harassment and the taxman breathing down their neck on the angel tax issue.
Relief for startups: CBDT lays out procedure for pending angel tax assessment cases
09 Aug 2019 9:31 AM

More than 540 startups have received exemption from angel tax so far.

The task force was assigned to draft direct tax laws in line with the norms prevalent in other countries.
Tax force on direct taxes gets more time to submit report
01 Aug 2019 10:57 AM

The government has allowed the task force to submit its report by 16th of August 2019.

The utility for e-filing ITR-2 and ITR-3 were released on May 2 and May 10, 2019 respectively.
No changes made in ITR forms, only software updated: CBDT
24 Jul 2019 4:42 PM

The CBDT said that the software utility for e-filing of all the ITR forms has been released long back.

Keep in mind that if you fail to file your ITR by the due date, you will have to pay a fine and face certain restrictions after you file belated return.
If you fail to file ITR by due date, you will be penalised, even get jailed
15 Jul 2019 2:11 PM

In case, you fail to file your ITR, the income tax department may send you a notice and you could be jailed.

CBDT has issued a notice dated June 4, 2019 extending the due date for employers to file their TDS returns from June 30 to July 10.
Will income tax filing deadline be extended from July 31?
13 Jul 2019 1:42 PM

Tax payers have to pay special attention this year on account of the changes in the forms.

Experts said surcharge on capital gain on companies is lesser and, therefore, these FPIs could choose to come as a company, if they wanted to pay a lesser surcharge. (Photo: Representational | PTI)
FPIs can opt for corporate route to avail lower tax surcharge: CBDT chief
10 Jul 2019 6:11 PM

FPIs get covered by higher tax rate as they have been investing as a non-corporate entity such as trust or association of persons.

The effective income tax rate for individuals with a taxable income of Rs 2-5 crore will go up from 35.88 per cent to 39 per cent.
Govt to soon issue clarification on applicability of surcharge on FPIs: Finmin
09 Jul 2019 8:31 AM

FM Sitharaman proposed to increase surcharge from 15 pc to 25 pc on taxable income between Rs 2 cr and Rs 5 cr.


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