Friday, 28 January, 2022
TopicCentral Board of Direct Taxes (CBDT)

Topic: Central Board of Direct Taxes (CBDT)

Income tax refunds worth Rs 92,961 crore issued to 63.23 lakh taxpayers in 2021-22

The figure includes income tax refunds of Rs 23,026 crore in 61,53,231 cases and corporate tax refunds of Rs 69,934 crore in 1,69,355 cases, an official Twitter post said.

CBDT extends due dates under Direct Tax ‘Vivad se Vishwas’ Act, 2020 till 30 September

Considering the difficulties being faced in issuing and amending Form no 3—which is a prerequisite for making payment by the declarant - the last date has been extended, CBDT said.

CBDT detects Rs 880 crore concealed income after survey of Bengaluru service company

Quess Corp Limited has refuted the charges of concealment of income and said that it was extending full cooperation to the department.

Govt examining Cairn retrospective tax order, law of the time has to be carried out—CBDT chief

P.C. Mody says govt has already appealed international tribunal order in Vodafone retrospective tax case, and will soon decide whether to appeal Cairn verdict too.

Shivraj govt in a bind as ex-Congress MLAs named in MP ‘poll cash’ case are now in BJP

EC order is based on CBDT report that names several ex-Congress MLAs who defected to the BJP, including two cabinet ministers. MP govt to speak to EC in first week of January.

Chinese national arrested now for ‘running hawala network’ was held for spying in 2018

According to officials of Central Board of Direct Taxes, Luo Sang was using 8-10 bank accounts and represented fake Chinese companies in hawala operations worth Rs 300 crore.

PM Modi to launch direct tax reforms platform, ‘Transparent Taxation – Honouring the Honest’

The virtual event, to be held Thursday, will be witnessed by various chambers of commerce, trade associations, chartered accountants' associations and 'eminent' taxpayers.

I-T Return forms being revised to accommodate timeline extension due to Covid-19 crisis: CBDT

Surabhi Ahluwalia, Official Spokespersons of CBDT, said the return filing utility will be made available by 31 May, 2020, to avail benefits for FY 2019-20.

Modi govt message to taxmen — ensure 100% targets are met, or forget good postings

Modi govt wants to earn Rs 2 lakh crore from ‘Vivaad Se Vishwas’ scheme for disputed tax cases, and has told field officers their appraisals will depend on it.

LIC to tax charter: Budget 2020 wants India in the big league, but offers mere quick fixes

Modi govt’s Budget identifies key reform areas, but a mere window dressing won’t get desired results. There is clear need for deep structural reforms.

On Camera

YourTurn

Covid isn’t behind us, but the world’s next big health emergency is already here

Covid has led to 5.6 million deaths, but antimicrobial resistance is likely to log 10 million deaths annually by 2050. Its treatment has led to antibiotics' overuse, which has spiked drug resistance.
An Assicurazioni Generali SpA logo sits above an entrance to their offices in Rome | Bloomberg

Italian Generali buys 25% stake worth Rs 1,250 cr in insurance JV from embattled Future Group

The stake sale, which will give Generali majority control over the JV, comes as the Future Group is locked in a prolonged legal battle with partner Amazon.

Defence

The Indian Army's Akash missiles on display during the 73rd Republic Day Parade, at Rajpath, in New Delhi | ANI

Not just 1st R-Day, 26 Jan 1950 also significant as Indian Army, Navy shed ‘Royal’ prefix

Both the ‘Royal’ prefix for the Navy and Air Force in India, as well as the absence of such a label for the Army, have their roots in British military and political history.

Modi vs non-BJP CMs: When most popular isn’t all-powerful & why Centre-state ties will worsen

Modi’s inability to win many states, and the huge popularity his rivals enjoy there, is pushing Indian politics in a more robustly federal direction.
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