Central Board of Direct Taxes Current Affairs - 2020

CBDT inaugurates Web Portal for exchange of information on Income Tax

Central Board of Direct Taxes (CBDT) has inaugurated the Web Portal for Exchange of Information on Income Tax which will consolidate all relevant Automatic Exchange of Information (AEOI) related information at one place. This portal will help in convenient access by public, financial institutions as well as departmental officers at large. Web Portal for Exchange Read More…

CBDT launches Documentation Identification Number

The Central Board of Direct Taxes (CBDT) has launched a computer-generated Document Identification Number (DIN) to ensure greater transparency and accountability in tax administration. Thus from now onwards, every CBDT communication will have to have a documentation identification number. The DIN system has been created as per the direction of Nirmala Sitharaman, Union Minister of Read More…

CBDT to set up National e-Assessment centre in New Delhi

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 Read More…

India, Switzerland Automatic Exchange of Financial Account Information kicks in

Automatic Exchange of Information (AEOI) Regime between Switzerland and India kicked off from September 1, 2019. Under this mechanism, India will start receiving information on all financial accounts held by Indian residents in Switzerland, for the year 2018. Central Board of Direct Taxes (CBDT) has hailed this move as a significant step in the government’s Read More…

CBDT notifies creation of special cell for startups

Central Board of Direct Taxes (CBDT) has created five-member special cell to address grievances of startups with relation to angel tax and other tax-related issues. It will be headed by member (Income Tax and Computerisation) of CBDT. This initiative is the latest amongst the recent initiatives taken by the CBDT to further ease the compliance Read More…