cbdt notification

The government has refuted claims of imposing GST on UPI transactions exceeding Rs 2,000, clarifying that no such proposal exists. GST applies to charges like Merchant Discount Rate (MDR), which is currently waived for UPI transactions. To promote digital payments, the government supports UPI through incentive schemes, allocating significant funds and solidifying India's position as a leader in real-time transactions.

The Haryana government has announced that Eid-ul-Fitr on March 31 will be a restricted holiday instead of a gazetted holiday due to the financial year-end. Income Tax Department offices will remain open from March 29 to 31 to assist taxpayers. RBI has also directed banks handling government transactions to stay open on March 31 for special clearing operations.

The Central Board of Direct Taxes (CBDT)’s latest notification allowing private hospitals to accept cash in excess of Rs 2 lakh for emergent Covid-19 treatment will regularise exploitation by private hospitals, said former Union energy secretary EAS Sarma.

Candidates who appeared in the SSC CGL 2024 Tier 2 exam can now submit their post and department preferences via the official website until February 27, 2025, 5 PM. The SSC has announced 18,174 vacancies with a detailed category-wise distribution for the recruitment process.

CBDT has extended the validity period of nil or lower withholding tax certificates, where these certificates were set to expire in March-end, by three months. CBDT has stated that in all cases, where an application for nil or reduced withholding tax rate was pending and certificates had been issued for 2019-20, their validity would get extended to June 30.

The cbdt notification points out that during scrutiny proceedings, some AOs had been routinely calling for information that was not relevant for the enquiry.

The finance ministry on Wednesday extended the deadline for filing income tax returns for the assessment year 2022-23 by businesses till November 7. The last date for filing ITR by companies who are required to get their accounts audited was October 31.

New Delhi, May 18 () While seeking information from a foreign country in connection with black money stashed abroad by Indians, the CBDT has decided to refrain from invoking a specific treaty clause of not informing the person, except in special cases, in a bid to avoid delays.

State Bank of India (SBI) and other lenders that had purchased 10 billion equity shares of Yes Bank at Rs 10 per share under the reconstruction scheme approved by the RBI will not have to pay tax on the price differential (between what was paid by it and the fair market value).

Capital markets regulator Sebi on Friday asked investors to link their PAN with Aadhaar number by September 30 for continual and smooth transactions in the securities market. Failing to comply with this, a person's Permanent Account Number (PAN) card will become inoperative, which means incomplete Know Your Customer (KYC) details.

New Delhi, Jul 11 () CBDT today issued a fresh notification making it clear that information about those who declare their black money under the compliance window, ending September 30, will be kept secret.

NEW DELHI: In a bid to facilitate tax-payers, the government has extended by one month the last date for filing income tax returns in bulk by salaried employees to August 31.

Over 80,000 taxpayers who had deposited significant amounts of cash during the demonetisation period but failed to respond to initial notices sent by the income tax (I-T) department and furnish their tax returns for the financial year 2016-17 will now be subject to a ‘best judgement’ assessment.

In case of other entities, the minimum fee prescribed by CBDT is either of 0.3 per cent of the assets under management; or 10 per cent of profits derived by the fund in excess of the specified hurdle rate, where the remuneration is only to income or profit linked.