Chief CIT Anil Goel Arrested By CBI For Alleged Bribe Wealth Of Rs. 30 Cr
The CBI has issued a grim press release stating that a Principal Commissioner of Income-tax has been arrested for allegedly demanding a bribe of Rs. 10 lakhs. His unaccounted wealth is reported to be around Rs. 30 crore
CBDT Instruction On Revised And Updated Guidance For Implementation Of Transfer Pricing Provisions
The CBDT has issued Instruction No. 15/2015 dated 16.10.2015 in which it has set out revised and updated guidance for implementation of transfer pricing provisions. The Instruction sets out the circumstances in which a reference can be made to the TPO by the AO, the role of the TPO when such a reference is made, the role of the AO after determination of the ALP by the TPO, etc. The Instruction is of crucial importance to all taxpayers and professionals engaged in the practice of transfer pricing law
CBDT Press Release Reg Claiming Of Medical Expenditure For Tax Purposes Made Easy
The CBDT has issued a press release dated 14.10.2015 stating that the condition of obtaining the certificate for claiming expenditure under section 80DDB in respect of specified ailments from a specialist working in a Government hospital has been amended. As per amended Rule 11DD, the prescription can be issued by any specialist mentioned in the amended Rule. Henceforth, it will not be mandatory to obtain a certificate from a specialist working in a Government hospital
CBDT Office Order Regarding Creation Of Additional Benches Of DRP To Handle Large Pendency Of Cases
The CBDT has issued Office Order No. 198 of 2015 dated 13.10.2015 stating that in order to address the large pendency before DRPs at Mumbai and Bengaluru, the CBDT has decided to create additional Benches i.e. DRP-3 at Mumbai DRP-2 at Bengaluru until further orders
CBDT Instruction Reg Framing Of Scrutiny Assessments In Cases Of Assessees Engaged In The Business Of Mining
The CBDT has issued Instruction No. 14/2015 in which important directives have been set out with regard to framing of scrutiny assessments in cases of assessees engaged in the business of Mining
Regards,
Editor,
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