{"id":143,"date":"2015-12-17T00:00:00","date_gmt":"2015-12-16T18:30:00","guid":{"rendered":""},"modified":"2015-12-29T11:10:48","modified_gmt":"2015-12-29T05:40:48","slug":"the-list-of-important-decisions-taken-by-cbdt-in-last-three-months","status":"publish","type":"post","link":"https:\/\/taxclick.org\/type\/income-tax\/the-list-of-important-decisions-taken-by-cbdt-in-last-three-months\/","title":{"rendered":"The List of important decisions taken by CBDT in last three months"},"content":{"rendered":"<p style=\"text-align:center\"><a style=\"text-align:center\"><\/a><strong style=\"text-align:center;font-family:georgia, palatino, serif;font-size:medium\">Government of<br \/>\nIndia<\/strong><span style=\"text-align:center;font-family:georgia, palatino, serif;font-size:medium\"><\/span><\/p>\n<p style=\"text-align:center;font-family:georgia, palatino, serif;font-size:medium\"><strong>Ministry of Finance<\/strong><\/p>\n<p style=\"text-align:center;font-family:georgia, palatino, serif;font-size:medium\"><strong>Department of Revenue<\/strong><\/p>\n<p style=\"text-align:center;font-family:georgia, palatino, serif;font-size:medium\"><strong>Central Board of Direct Taxes<\/strong><\/p>\n<p style=\"text-align: center; font-family: georgia, palatino, serif; font-size: medium;\" margin-bottom:0in;margin-bottom:.0001pt;line-height:10.0pt\"=\"\">&nbsp;<strong>PRESS RELEASE<\/strong><\/p>\n<p style=\"text-align: center; font-family: georgia, palatino, serif; font-size: medium;\" margin-bottom:0in;margin-bottom:.0001pt;line-height:15.0pt\"=\"\">&nbsp;New Delhi, 15<sup>th<\/sup> December, 2015<\/p>\n<p style=\"font-family: georgia, palatino, serif; font-size: medium;\" margin-bottom:0in;margin-bottom:.0001pt;line-height:10.5pt\"=\"\">&nbsp;<\/p>\n<h2 style=\"font-size:medium\"><strong>Subject:<br \/>\nSignificant decisions taken by CBDT in last three months-regarding.<\/strong><\/h2>\n<p style=\"font-family: georgia, palatino, serif; font-size: medium;\" margin-bottom:0in;margin-bottom:.0001pt;line-height:14.8pt\"=\"\">&nbsp;<\/p>\n<p style=\"font-family: georgia, palatino, serif; font-size: medium;\" margin-bottom:0in;margin-bottom:.0001pt;text-align:justify;line-height:104%\"=\"\">The<br \/>\nCentral Board of Direct Taxes has taken a number of decisions over last three<br \/>\nmonths with the objective of providing better taxpayer services, improving ease<br \/>\nof doing business and reducing the burden of compliance on the tax payer.<\/p>\n<p style=\"font-family: georgia, palatino, serif; font-size: medium;\" margin-bottom:0in;margin-bottom:.0001pt;line-height:11.6pt\"=\"\">&nbsp;<\/p>\n<p style=\"font-family:georgia, palatino, serif;font-size:medium\">Some of the<br \/>\nsignificant decisions taken are<\/p>\n<p style=\"font-family: georgia, palatino, serif; font-size: medium;\" margin-bottom:0in;margin-bottom:.0001pt;line-height:12.05pt\"=\"\">&nbsp;<\/p>\n<p><span style=\"font-size:medium\"><br \/><\/span><\/p>\n<ul style=\"font-size:medium\">\n<li>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp;Acceptance of A.P Shah Committee\u2019s<br \/>\nrecommendations regarding applicability of&nbsp;MAT<br \/>\non Foreign Institutional Investors\/Foreign Portfolio Investors (FII\/FPI). &nbsp;<\/li>\n<li>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp;Decision<br \/>\nthat MAT will not apply to foreign companies having no PE in India.<\/li>\n<li>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp;Simplification of procedures for<br \/>\nsubmission of F<a href=\"https:\/\/taxclick.org\/type\/income-tax\/the-requirement-of-submitting-physical-copy-of-form-15g-and-15h-by-the-deductor-has-been-dispensed-with-from-1st-october-2015\" target=\"_blank\">orm No 15G and Form No 15H <\/a>for furnishing self declaration for<br \/>\nlower deduction or no deduction of tax.<\/li>\n<li>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp;Notification of Transfer Pricing Rules<br \/>\nto incorporate \u201crange concept\u201d and use of \u201cmulti year data\u201d to reduce<br \/>\nlitigation on transfer pricing issues.<\/li>\n<li>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp;Launching of \u201ce-sahyog\u201d Pilot Project to<br \/>\nprovide online facility to resolve mismatch of prepaid taxes in Income Tax<br \/>\nReturns.<\/li>\n<li>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp;Setting up of Committee with a view to<br \/>\nsimplify the provisions of the Income Tax Act, 1961.<\/li>\n<li>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp;Phasing out plan of deductions under the<br \/>\nIncome Tax Act with reduction in tax rates for corporate taxpayers- extension<br \/>\nof time for submission of comments.<\/li>\n<li>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp;Notification of Income Computation and<br \/>\nDisclosures Standards (ICDS) under section 145(2) of the Income Tax Act.<\/li>\n<li>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp;Notification<br \/>\nregarding income from off-shore Rupee Denominated Bonds.<\/li>\n<li>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp;Decision to <a href=\"https:\/\/taxclick.org\/type\/income-tax\/CBDT-has-issued-directions-to-expedite-the-issue-of-pending-refunds-below-Rs-50000\" target=\"_blank\">expedite issue of refunds<\/a><br \/>\nbelow Rs.50,000\/- for A.Y. 2013-14 and 2014-15 for cases not selected for<br \/>\nscrutiny.<\/li>\n<li>&nbsp; &nbsp; &nbsp; &nbsp; &nbsp;Monetary limits for filing appeal by the<br \/>\nIncome Tax Department before Tribunal and High Courts enhanced from Rs.4 lakh<br \/>\nand Rs.10 Lakh to Rs.10 lakh and Rs.20 lakh respectively with retrospective<br \/>\neffect.<\/li>\n<\/ul>\n<p><span style=\"font-size:medium\"><\/p>\n<p><\/span><\/p>\n<p style=\"font-family: georgia, palatino, serif; font-size: medium;\" margin-bottom:0in;margin-bottom:.0001pt;line-height:10.0pt\"=\"\">&nbsp;<\/p>\n<p style=\"font-family: georgia, palatino, serif; font-size: medium;\" margin-bottom:0in;margin-bottom:.0001pt;line-height:18.15pt\"=\"\">&nbsp;<\/p>\n<p style=\"font-family:georgia, palatino, serif;font-size:medium\"><strong>(Shefali Shah)<\/strong><\/p>\n<p style=\"font-family: georgia, palatino, serif; font-size: medium;\" margin-bottom:0in;margin-bottom:.0001pt;line-height:2.5pt\"=\"\">&nbsp;<strong>Pr. Commissioner of Income Tax (OSD)<\/strong><\/p>\n<p style=\"font-family: georgia, palatino, serif; font-size: medium;\" margin-bottom:0in;margin-bottom:.0001pt;line-height:.6pt\"=\"\">&nbsp;<strong>Official Spokesperson, CBDT<\/strong><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes &nbsp;New Delhi, 15th December, 2015 &nbsp; &nbsp; Some of the significant decisions taken are &nbsp; &nbsp;Pr. Commissioner of Income Tax (OSD)<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_uag_custom_page_level_css":"","_mi_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[4],"tags":[31],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>The List of important decisions taken by CBDT in last three months - All About Finance<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/taxclick.org\/type\/income-tax\/the-list-of-important-decisions-taken-by-cbdt-in-last-three-months\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The List of important decisions taken by CBDT in last three months - All About Finance\" \/>\n<meta property=\"og:description\" content=\"Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes &nbsp;New Delhi, 15th December, 2015 &nbsp; &nbsp; Some of the significant decisions taken are &nbsp; &nbsp;Pr. 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