MAY 2017 Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes Draft Income Computation and Disclosure Standard [ICDS] Real Estate Transactions Preamble This Income Computation and Disclosure Standard is applicable for computation of income chargeable under the head “Profits and gains of business or profession” or “Income from other sources”…

Circular No. 15 of 2017  F.No. 500/002/2015-FT&TR-lll(1)  Government of India  Ministry of Finance  Department of Revenue  Central Board of Direct Taxes New Delhi, dated 21st April, 2017 Subject: Clarification on removal of Cyprus from the list of notified jurisdictional areas under section 94A of the Income-tax Act, 1961. Cyprus was specified as a “notified jurisdictional area”…

MINISTRY OF FINANCE (Department of Revenue) NOTIFICATION New Delhi, the 11th May, 2017 S.O. 1513 (E).—In exercise of the powers conferred by sub-section (3) of section 139AA of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies that the provisions of section 139AA shall not apply to an individual who does not…

Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes PRESS RELEASE New Delhi, 5th May, 2017. Subject: Request for stakeholder’s comment on draft rules relating to valuation of unquoted equity share for the purposes of section 56 and section 50CA of the Income-tax Act, 1961. The Finance Act, 2017 inserted…

Draft Notification INCOME-TAX In exercise of the powers conferred by section 50CA and sub-section 2 of section 56 read with section 295 of the Income-tax Act, 1961 ( 43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely:- 1. (1) These rules may…

Circular No.14 of 2017 F.No.370142/33/2016-TPL(Part) Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes (TPL Division) *** Dated: 21st April, 2017 Extension of time for filing declaration under the Taxation and Investment Regime for Pradhan Mantri Garib Kalyan Yojana, 2016 The Taxation and Investment Regime for Pradhan Mantri Garib Kalyan…

Income–tax (Seventh Amendment) Rules, 2017 5th April, 2017 In exercise of the powers conferred by section 139A and section 285BA, read with section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely:— 1. (1) These rules…

MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 5th April, 2017 G.S.R. 331(E).—In exercise of the powers conferred by section 139A and section 285BA, read with section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further…

Income-tax (5th Amendment) Rules, 2017 31st March, 2017 In exercise of the powers conferred by sub-section (3) of section 115BBF, read with section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely:— 1. (1) These rules…

MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 31st March, 2017 INCOME-TAX G.S.R. 318(E).—In exercise of the powers conferred by sub-section (3) of section 115BBF, read with section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules…

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