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action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home3/a1636wpq/public_html/taxclick.org/wp-includes/functions.php on line 6114<\/a>Government of Ministry of Finance<\/strong><\/p>\n Department of Revenue<\/strong><\/p>\n Central Board of Direct Taxes<\/strong><\/p>\n PRESS RELEASE<\/strong><\/p>\n New Delhi, 15th<\/sup> December, 2015<\/p>\n <\/p>\n <\/p>\n The <\/p>\n Some of the <\/p>\n <\/p>\n <\/span><\/p>\n <\/p>\n <\/p>\n (Shefali Shah)<\/strong><\/p>\n Pr. Commissioner of Income Tax (OSD)<\/strong><\/p>\n Official Spokesperson, CBDT<\/strong><\/p>\n <\/p>\n","protected":false},"excerpt":{"rendered":" Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi, 15th December, 2015 Some of the significant decisions taken are 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],"class_list":["post-143","post","type-post","status-publish","format-standard","hentry","category-income-tax","tag-cbdt"],"yoast_head":"\n
\nIndia<\/strong><\/span><\/p>\nSubject:
\nSignificant decisions taken by CBDT in last three months-regarding.<\/strong><\/h2>\n
\nCentral Board of Direct Taxes has taken a number of decisions over last three
\nmonths with the objective of providing better taxpayer services, improving ease
\nof doing business and reducing the burden of compliance on the tax payer.<\/p>\n
\nsignificant decisions taken are<\/p>\n
<\/span><\/p>\n\n
\nrecommendations regarding applicability of MAT
\non Foreign Institutional Investors\/Foreign Portfolio Investors (FII\/FPI). <\/li>\n
\nthat MAT will not apply to foreign companies having no PE in India.<\/li>\n
\nsubmission of Form No 15G and Form No 15H <\/a>for furnishing self declaration for
\nlower deduction or no deduction of tax.<\/li>\n
\nto incorporate \u201crange concept\u201d and use of \u201cmulti year data\u201d to reduce
\nlitigation on transfer pricing issues.<\/li>\n
\nprovide online facility to resolve mismatch of prepaid taxes in Income Tax
\nReturns.<\/li>\n
\nsimplify the provisions of the Income Tax Act, 1961.<\/li>\n
\nIncome Tax Act with reduction in tax rates for corporate taxpayers- extension
\nof time for submission of comments.<\/li>\n
\nDisclosures Standards (ICDS) under section 145(2) of the Income Tax Act.<\/li>\n
\nregarding income from off-shore Rupee Denominated Bonds.<\/li>\n
\nbelow Rs.50,000\/- for A.Y. 2013-14 and 2014-15 for cases not selected for
\nscrutiny.<\/li>\n
\nIncome Tax Department before Tribunal and High Courts enhanced from Rs.4 lakh
\nand Rs.10 Lakh to Rs.10 lakh and Rs.20 lakh respectively with retrospective
\neffect.<\/li>\n<\/ul>\n