CBDT Circular

Cash sales of agriculture produce exempted by CBDT

The Central Board of Direct Taxes (CBDT) on Friday has provided clarifications regarding applicability of Income Tax provisions to the cultivators of agriculture produce. Sections 40A(3) and section 269ST of the Income Tax Act put cap over cash transactions. CBDT by this circular has clarified about exemptions provided to the cultivators of agriculture produce. Representations… Read More »

CBDT extends due date for furnishing CbC report for accounting year 2016-17 to March 31, 2018

The Central Board of Direct Taxes (CBDT) has extended due date for furnishing of country-by-country (CbC) report in respect of international group for reporting accounting year 2016-17 to 31st March, 2018. FY 2016-17 will be the first reporting year for furnishing of CbCR. The rules for furnishing of CbCR are also still under consideration. On… Read More »