News Update

Income tax hands over Rs 1700 Cr tax demand to Congress PartyGST - Neither SCN nor the order spell out the reasons for retrospective cancellation of registration, hence cannot be sustained: HCStage-2 of Vikram-1 orbital rocket successfully test-firedGST - Non-application of mind - If reply was unsatisfactory, details could have been sought - Record does not reflect that such exercise was done - Matter remitted: HCHouthis claim UK has not capability to intercept their hypersonic missilesGST - Merely because a taxpayer has not filed returns for some period does not mean that registration is required to be cancelled with retrospective date also covering the period when returns were filed and taxpayer was compliant: HCIsraeli forces kill 200 Palestinians at Gaza medical complex & arrest over 1000GST - Petitioner's reply, although terse, is not taken into account while passing assessment orders - Petitioner put on terms, another opportunity provided: HCUnveil One Nation; One Debt Code; One Compliance Rule for Centre & StatesChina moves WTO against US tax subsidies for EVs & renewable energyMore on non-doms - The UK Spring Budget 2024 (See TII Edit)Notorious history-sheeter Mukhtar Ansari succumbs to cardiac arrest in UP jailTraining Program for Cambodian civil servants commences at MussoorieNY imposes USD 15 congestion taxCBIC revises tariff value of edible oils, gold & silver45 killed as bus races into ravine in South AfricaCBIC directs all Customs offices to remain open on Saturday & SundayBankman-Fried jailed for 25 yrs in FTX scamI-T- Once the citizen deposits the tax upon coming to know of his liability, it cannot be said that he has deliberately or willfully evaded the depositing of tax and interest in terms of Section 234A can be waived: HCHouthis attack continues in Red Sea; US military shoots down 4 dronesFederal Govt hands out USD 60 mn to rebuild collapsed bridge in BaltimoreI-T - Receipts of sale of scrap being part & parcel of activity and being proximate thereto would also be within ambit of gains derived from industrial undertaking for purpose of computing deduction u/s 80-IB: HCCanadian School Boards sue social media titans for 4 bn Canadian dollar in damagesFormer IPS officer Sanjiv Bhatt jailed for 20 yrs for planting drugs to frame lawyerCus - No Cess is payable when Basic Customs Duty is found to be Nil: CESTAT
 
Garib Kalyan Yojana- If tax paid by Mar 31, declaration can be filed by May 10

By TIOL News Service

NEW DELHI, APR 21, 2017: The Central Board of Direct Taxes (CBDT) vide Circular No.14 of 2017 dated April 21, 2017, has extended the date of filing of declaration under Pradhan Mantri Garib Kalyan Yojana, 2016 (PMGKY) to May 10, 2017 in cases where tax, surcharge and penalty under PMGKY has been paid on or before the March 31, 2017, and deposit under the Deposit Scheme has been made on or before the April 30, 2017.

The Taxation and Investment Regime for PMGKY had commenced on December 17, 2016 and was open for declarations up to 31st March, 2017. Representations from stakeholders have been received stating that in some cases tax, surcharge and penalty have been paid on or before March 31, 2017 but the corresponding deposit under the Pradhan Mantri Garib Kalyan Deposit Scheme, 2016 (Deposit Scheme) could not be made by the said date. Accordingly, DEA vide notification S.O.1218(E) dated April 19 , 2017 has extended the date of making deposit under the Deposit Scheme upto April 30, 2017 in respect of cases where tax, surcharge and penalty under PMGKY has been paid on or before March 31, 2017.

Subsequently, CBDT vide Circular No.14 of 2017 dated April 21, 2017 has extended the date of filing of declaration under PMGKY to May 10, 2017 in cases where tax, surcharge and penalty under PMGKY has been paid on or before the March 31, 2017, and deposit under the Deposit Scheme has been made on or before the April 30, 2017.

The Circular may be accessed on the official website of the Income-tax Department www.incometaxindia.gov.in.


POST YOUR COMMENTS
   

AR not Afar by SK Rahman

TIOL Tube Latest

Shri Shailendra Kumar, Trustee, TIOL Trust, giving welcome speech at TIOL Awards 2023




Shri M C Joshi, Former Chairman, CBDT




Address by Shri Buggana Rajendranath, Hon'ble Finance Minister of Andhra Pradesh at TIOL Awards 2023