Cbdt News
HUDCO share price jumps after CBDT's approval for ₹5,000 crore fundraise via Zero Coupon Bonds
HUDCO shares jumped on Monday's stock market session after the Central Board of Direct Taxes approved ₹5,000 crore fundraiser. The company shares have given stock market investors more than 990% returns in the last five years.
2 min read21 Apr 2025CBDT’s nudge leads to disclosure of over ₹29,000 crore of foreign assets
India has been receiving details of assets and income parked abroad by Indians under different information-sharing frameworks. Based on that information, it urged taxpayers to declare their foreign assets and income in revised income tax returns for the assessment year 2024-25.
2 min read7 Mar 2025CBDT reminds employers of TDS obligations, highlights penalty for failure
In a circular issued on Thursday, CBDT highlighted that penalty is applicable where tax is not deducted at source on perquisites that are given in kind, according to a change in law introduced by way of Finance Act 2023.
2 min read21 Feb 2025Mint Explainer: Can capital gains make you ineligible for a tax rebate?
Say you make ₹12 lakh a year but earn ₹1 lakh from capital gains on your investments, pushing your total income above the rebate threshold. Will you still receive a rebate or will your entire income be taxed? Nobody seems to know.
4 min read20 Feb 2025A rich-country tax deal is dead in the water. But India is sailing ahead
The proposed profit attribution rules under India's income tax law seek to put in place an objective and balanced framework taking into account the economic activity here, need for simplicity and certainty in taxation and the business model of new age globalized companies.
4 min read11 Feb 2025Centre’s net direct-tax revenue grows 15.4% to ₹12.1 trillion in April-Nov
This is faster than the 12.8% growth rate assumed in the full-year budget presented in July, which gives comfort to policymakers on achieving the full-year target.
2 min read12 Nov 2024There’s now a faster way to resolve tax disputes. But it has a huge red flag.
The Central Board of Direct Taxes rolled out an electronic Dispute Resolution Scheme (e-DRS) last week for taxpayers with incomes below ₹50 lakh a year. But beware the one fatal flaw.
4 min read5 Sep 2024Need Income Tax Clearance Certificate for travel abroad? No: CBDT clarifies reports are ‘factually incorrect’. Details
The Finance Ministry department dismissed reports which claimed that all Indian citizens must obtain income-tax clearance certificate (ITCC) before leaving the country.
2 min read21 Aug 2024Made contribution to a trust? This is what needs to be revealed, I-T department directs
The department said anyone who contributes over Rs 50,000 is said to have made a substantial contribution to the trust or charity.
1 min read10 Oct 2023Review penalty for non-disclosure of foreign assets
A recent tribunal decision upholding a penalty of ₹10 lakh for non-disclosure of foreign assets brings up concerns about the proportionality of the penalty. The government should consider whether the cost of litigation is in the country's interest and if a more nominal penalty would be appropriate.
4 min read9 Oct 2023Popular Topics
Budget
The Union Budget contains details about the estimated receipts and the expenditure of the government for a particular fiscal year. The Budget is allotted for the upcoming fiscal year, which runs from 1st April to 31st March of the next year. Here is a quick guide on how the Union Budget is prepared