Wednesday, 19 December 2018

Govt. orders restructuring of IT Dept. for enhancing effectiveness, forms Committee

Government orders cadre review exercise for restructuring of IT Department, forms a 15-member Cadre Review & Restructuring Committee chaired by Pr. DGIT (Sys) S. K. Das; The Terms of reference for the Committee include - organizing IT Dept. in a manner which will further promote compliance with Direct Tax laws, rationalizing the organizational structure for enhancing effectiveness of Dept., proposing appropriate modifications in extant organizational structure; Committee to submit its report to the CBDT within 3 months from date of this order 

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Supreme Court ruling holds non-compete fee is allowable as revenue expenditure

  The Hon’ble Supreme Court settled the long-standing controversy surrounding the tax treatment of non-compete fees and, based on the facts ...