⁂    Karnataka High Court imposes exemplary costs on the officials (to be paid from their personal resources) who were involved in filing of writ petition against order of tribunal granting stay against recovery of demand.      ⁂    Direct Tax collections for F.Y. 2017-2018 show growth of 18.7% up To 15th January, 2018       ⁂    CBDT lists conditions wherein non-compliance with the obligations under the IGA would not be alleged by competent Authority of USA solely because of a failure of a reporting FFI to obtain and report each U.S.TIN.       ⁂    Department initiates criminal prosecution proceedings in a large number of cases of tax offenders and evaders      ⁂    Income Tax Department seizes Benami properties of more than Rs. 3,500 Crore in more than 900 cases attached      ⁂    CBDT issues Circular prescribing procedure to be followed by taxpayers while replying to intimations proposing adjustments in identified returns under section 143(1)(a)(vi) of the Act.       ⁂    Central Government announces the Electoral Bond Scheme, 2018.        ⁂    CBDT issues Circular containing the rates of deduction of income-tax from the payment of income chargeable under the head "Salaries" during the financial year 2017-18.        ⁂    Provisions relating to levy of MAT relaxed in case of companies against whom an application for corporate insolvency resolution process has been admitted under the Insolvency and Bankruptcy Code, 2016.       

Subscribe to Direct Tax Tracker

(Free for 15-days)