CBDT takes various significant decisions in last three months for providing better taxpayer services, improving ease of doing business and reducing the burden of compliance on the tax payer

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CBDT takes various significant decisions in last three months for providing better taxpayer services, improving ease of doing business and reducing the burden of compliance on the tax payer

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....BDT takes various significant decisions in last three months for providing better taxpayer services, improving ease of doing business and reducing the burden of compliance on the tax payer News and Press Release Dated:- 16-12-2015 The Central Board of Direct Taxes (CBDT) has taken a number of decisions over last three months with the objective of providing better taxpayer services, i....

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....mproving ease of doing business and reducing the burden of compliance on the tax payer. Some of the significant decisions taken are * Acceptance of A.P Shah Committee's recommendations regarding applicability of MAT on Foreign Institutional Investors/Foreign Portfolio Investors (FII/FPI). * Decision that MAT will not apply to foreign companies having no PE in India. * Simplification of proc....

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....edures for submission of Form No 15G and Form No 15H for furnishing self declaration for lower deduction or no deduction of tax. * Notification of Transfer Pricing Rules to incorporate "range concept" and use of "multi year data" to reduce litigation on transfer pricing issues. * Launching of "e-sahyog" Pilot Project to provide online facility to resolve mismatch of prepaid taxes in Income Tax....

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.... Returns. * Setting up of Committee with a view to simplify the provisions of the Income Tax Act, 1961. * Phasing out plan of deductions under the Income Tax Act with reduction in tax rates for corporate taxpayers- extension of time for submission of comments. * Notification of Income Computation and Disclosures Standards (ICDS) under section 145(2) of the Income Tax Act. * Notification re....

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....garding income from off-shore Rupee Denominated Bonds. * Decision to expedite issue of refunds below ₹ 50,000/- for A.Y. 2013-14 and 2014-15 for cases not selected for scrutiny. * Monetary limits for filing appeal by the Income Tax Department before Tribunal and High Courts enhanced from ₹ 4 lakh and ₹ 10 Lakh to ₹ 10 lakh and ₹ 20 lakh respectively with retrospec....

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....tive effect. News - Press release - PIB....

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CBDT takes various significant decisions in last three months for providing better taxpayer services, improving ease of doing business and reducing the burden of compliance on the tax payer