Page-3 of Income tax in India Current Affairs, GK & News

Sanjeev Sharma head of CBDT panel to help bring down tax litigation]

The Central Board of Direct Taxes (CBDT) has formed a four-member committee to look into the matter of taxation related pain points and submit its final report and recommendations by mid-March 2019. Its recommendations could include applying a filter for tax officer before a notice is issued and setting a time limit for concluding an ..

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Pramod Chandra Mody appointed as chairman of Central Board of Direct Taxes (CBDT)

Pramod Chandra Mody, a 1982 batch Indian Revenue Service (Income Tax cadre), has been appointed as the new chairman of Central Board of Direct Taxes (CBDT), the top policy making body of income tax department,. He succeeded Sushil Chandra, who was named as an new Election Commissioner (EC) of India. The CBDT Chairperson is ex-officio ..

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MP government launches farm debt-waiver scheme ‘Jai Kisan Rin Mukti Yojana’

In Madhya Pradesh, Chief Minister Kamal Nath launched the Rs 50,000-crore farm debt-waiver scheme named ‘Jai Kisan Rin Mukti Yojana’ on January 16, 2019. It would benefit 55 lakh small and marginal farmers. Under this scheme, Farmers who have registered themselves to pay GST and are paying income tax cannot avail benefits.

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Akhilesh Ranjan appointed as Convenor of Task Force drafting New Direct Tax Legislation

Union Finance Ministry has appointed Akhilesh Ranjan, Central Board of Direct Taxes (CBDT) member as Convenor of Task Force that is drafting New Direct Tax Legislation (Law). He will replace Arbind Modi who retired in September 2018. The other members (composition) of the Task Force remain unchanged. Akhilesh Ranjan is presently serving as Member (Legislation) ..

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Government of India (GoI) reduces minimum annual deposit requirement for accounts under Sukanya Samriddhi

The Government of India (GoI) has reduced the minimum annual deposit requirement for accounts under Sukanya Samriddhi Yojana from Rs. 1,000 to Rs. 250. The move will enable more people to take advantage of the girl child savings scheme. The government has amended the Sukanya Samriddhi Account Rules, 2016 for the purpose. The interest rate ..

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