Page-4 of Income Tax Current Affairs, GK & News
K M Prasad appointed as new Principal Chief Commissioner of Income-tax (PCCIT) of National e-assessment centre
The National e-Assessment Centre (NeAC) has been set up by the Central Board of Direct Taxes (CBDT) in the national capital as part of the government’s ambitious plan to launch faceless and nameless assessment for Income Tax (IT) payers from October 2019. K M Prasad, the 1984-batch Indian Revenue Service (IRS) officer, has been appointed ..
Topics: Central Civil Services • Commissioner of Income Tax • Economy of India • Government of India • Income Tax • Income tax in India • Indian Revenue Service • Internal Revenue Service • Ministry of Finance • Tax • Taxation in India
National E-Assessment Centre (NeAC) will be setup in New Delhi as part of the Centre government’s ambitious plan to launch faceless and nameless assessment for income tax payers from October 2019. The order for the creation of NeAC was issued by Central Board of Direct Taxes (CBDT), which frames policy for Income-tax department. About National ..
Category: Economy & Banking Current Affairs
The task force, headed by CBDT member Akhilesh Ranjan, constituted by the Union government for drafting the new Direct Tax Code (DTC) has recently submitted its report to Union Minister of Finance and Corporate Affairs Nirmala Sitharaman. The task force was constituted to replace the 6-decades-old Income Tax Act 1961. It is believed that the ..
The Indian Government has made a few tweaks to the norms of foreign portfolio investors (FPIs) to attract funding for the Indian capital market. What has happened? The Indian Government had, in the recent Union Budget, announced that increased surcharge will now be applicable to the FPIs. The Indian Government had levied an increase in ..
There were several reports in the social media that a few taxpayers were facing issues in filing the returns. What had happened? Unverified reports in the social media claimed that the large scale changes were made in the Income-tax Return (ITR) forms including ITR-2 and ITR-3. Apparently, it was claimed that this created problems in ..