Egmont Protocol information exchange: centralised requisition procedure, confidentiality safeguards and mandatory feedback required for cross border financial intelligence.
Requisition under the Egmont Protocol requires Investigation Directorates to route requests through the CBDT Nodal Officer (Director/Deputy Secretary, Investigation IV) using the prescribed proforma in duplicate with hard and soft copies, jurisdiction specified, and signatures of the concerned ADIT/DDIT and authorising PCIT/PDIT (Inv.). Requests must supply complete factual and legal information, state purpose and urgency, and justify multi jurisdiction distribution. Information received under the MoU with FIU IND is strictly confidential, for need to know use only, not to be used as evidence or disclosed without consent, and feedback to FIU IND via CBDT is required.

Knowledge Hub centralizes machine learning knowledge management, providing i Wiki, i Library, i Forum and i Query access via Insight Portal for authorised staff.
Instruction establishes an integrated Knowledge Hub in the Insight Portal to centralize organisational knowledge management using machine learning. It comprises four collaborative modules-i Wiki, i Library, i Forum and i Query-and is accessible via the Insight Portal on TAXNET connected computers. A User Guide is available under Resources and operational functionalities are detailed in an annexure. Technical support is provided through the designated Helpdesk; the instruction is issued by the Director of Income Tax (Systems) with approval of the Principal DGIT (System).

Best judgement assessment applied where s142(1) notices during demonetisation remain unresponded; AOs to collect evidence and proceed.
Where notices for return filing issued during demonetisation remained uncomplied, jurisdictional AOs will be provided updated identifying information and guidance, must invoke information gathering powers and conduct local enquiries, and proceed to frame a best judgement assessment after considering gathered material and affording the assessee an opportunity to be heard; supervisory directions from the Range Head and forwarding of material to jurisdictional AOs for identified ultimate beneficiaries are required, with completion targeted within the specified fiscal timeline.

Task force for drafting a new direct tax law: deadline extended, report now required by end of May.
The Task Force, reconstituted under the Member (Legislation), CBDT and authorised to co opt members, was tasked to review the Income tax Act, 1961 and draft a new direct tax law reflecting international best practices and national economic needs. Its original deadline for submitting the report has been extended by three months, and the Task Force is now required to submit its report by 31.05.2019, this extension having been approved by the Finance Minister.

Risk based STR handling: prioritise F1 STRs for immediate investigation and submit action and feedback reports to CBDT.
A risk analysis system will prioritise STRs and only highest risk reports will be investigated by the Investigation Wing. Until XML bulk exchange via Project Insight is stabilised, FIU IND will share data with the Directorate of Systems and only F1 STRs will be transmitted over FINnet to designated users. Investigation Directorates must take immediate action on F1 STRs and submit action taken reports and prescribed feedback to CBDT; other high risk STRs identified by the STR Risk Profiling Committee will be notified subsequently.

Deemed filing deadline extension under section 119(2) relieves regional taxpayers from interest charges and allows retrospective processing.
The Board, invoking its powers under section 119(2), directs that taxpayers whose return and audit report for AY 2018-19 were due on 31.10.18 and who file up to 28.02.19 shall be deemed to have filed by 31.10.18. Returns filed in the relevant window shall be exempt from interest under section 234A. Unprocessed returns will be processed and already processed returns will be rectified by CIT-CPC or the concerned jurisdictional authority under section 154. Relief is limited to taxpayers of the affected region with the specified due date.

STR feedback requirement: F1 category reports must be submitted online via FINnet and shared with CBDT.
The memorandum reiterates that feedback reports for all STRs classified as F1 category and reported as disposed must be submitted online via the FINnet portal, with copies in the prescribed format sent to the CBDT; feedback on other STR categories should be shared with FIU IND in significant cases to address FIU IND's concern over lack of recent submissions by field formations.

Deduction for senior citizens' interest income from bank and post office deposits, with eligibility and exclusion rules clarified.
Section 80TTB, effective from 01.04.2019, allows a deduction for senior citizens for interest on deposits with specified banks, co-operative banking societies and Post Office accounts, subject to a prescribed cap and subject to exclusion where interest is derived from deposits held by or on behalf of firms, associations or bodies of individuals; partners or members of such entities are not eligible, and claiming this deduction excludes claiming the alternative interest-deduction provision.

Monetary limits for departmental wealth tax appeals extended to wealth tax with a defined tax-effect rule and writ exception.
The CBDT extends Circular No.3/2018 monetary limits to Wealth Tax appeals effective 5 February 2019, applying Para 3 thresholds mutatis mutandis. For Wealth Tax, tax effect is the difference between tax on assessed Net Wealth and tax if disputed wealth were excluded; interest is excluded unless interest chargeability is disputed, in which case interest is the tax effect. For penalty orders, tax effect is the quantum of penalty deleted or reduced. The monetary limits do not apply to writ matters.

Section 80TTB phrase deletion clarifies explanatory text in salary deduction guidance under the income-tax circular.
Corrigendum deletes the parenthetical phrase "(not being time deposits)" from para 5.5.12 of Circular No.1/2019 concerning Section 80TTB, amending the explanatory text of the circular on income-tax deduction from salaries for FY 2018-19.

Hospital approval enables employer-paid specified medical treatment expenses to be excluded from employee perquisites during the approved validity period.
Approval is granted to Raj Hospitals, Ranchi under the proviso to section 17(2) read with Rule 3A, so that sums paid by an employer for medical treatment at the approved hospital for diseases specified in Rule 3A(2) shall not be treated as a perquisite in the hands of the employee; the approval is time limited, non transferable, subject to inspection, requires notification if statutory conditions cease to be met, may be withdrawn for fraud or non compliance, and requires timely renewal applications.

Official Assignee status: treated as artificial juridical person, not representative assessee; each estate must file separate ITR.
Official Assignees do not qualify as Representative Assessee under section 160(1)(iii) because they do not manage property or receive income on behalf of the debtor after adjudication; instead they must be treated as an artificial juridical person under section 2(31)(vii), obtain a separate PAN for each insolvent estate, file the applicable ITR electronically for artificial juridical persons, and have the estate income taxed at rates applicable to such juridical persons.

Applicability of section 56(2)(viia): fresh issue of shares falls within its scope and prior contrary circular withdrawn.
Clarifies that the anti abuse provision in section 56(2)(viia) applies to fresh issuance of shares by companies not substantially interested by the public; Circular No. 10/2018 is disavowed and shall be treated as never having been expressed and not to be relied upon by any Income tax authority.

Standard deduction under section 16(ia) applied to salary examples, triggering revised tax computations and corrected assessment year reference.
The corrigendum amends Annexure-I illustrations: examples previously labelled for one assessment year are to be read for the next assessment year; a numeric correction replaces Rs. 5,00,000 with Rs. 4,00,000 in Example 1 (Para A, serial (ii)); and a standard deduction of Rs. 40,000 is allowed in Examples 1-10, requiring revised total income and tax computations.

Interpretation of 'receives' under section 56 - prior circular withdrawn pending issuance of fresh comprehensive guidance by tax authorities.
Circular No. 10/2018 relating to interpretation of the term receives in section 56 is withdrawn and shall be treated as never issued because the issue is sub judice and stakeholders have sought clarifications on related provisions; a fresh comprehensive circular on interpretation of receives and related section 56 provisions will be issued in due course after further examination.

TDS on salaries: employers must deduct tax at prescribed rates, require PAN, remit deposits and file quarterly statements.
Employers and persons responsible for paying salaries must deduct income-tax on estimated salary income for the financial year at rates notified by the Finance Act, 2018, applying age-based slabs, surcharge and a health and education cess; employers may opt to pay tax on perquisites, must obtain prescribed evidence for exemptions and deductions (including PAN, Form 12BA/12BB), file quarterly TDS statements electronically, issue Form 16 via TRACES, timely deposit TDS or face interest, penalties and prosecution for non-compliance.