Pramod Chandra Mody takes over as new CBDT chairman
Friday, February 15, 2019, 8:12 PM
IRS officer Pramod Chandra Mody took over as the new chairman of the Central Board of Direct Taxes (CBDT), the policy making body of the Income Tax Department. Mody, a 1982-batch Indian Revenue Service (Income Tax cadre) officer, has been appointed in place of Sushil Chandra, who was on Thursday named as Election Commissioner ahead of the Lok Sabha polls due this summer.
Tax soup for restaurants not sharing service charges with staff
Saturday, November 24, 2018, 12:06 PM
The Central Board of Direct Taxes (CBDT) has said that service charge collected by restaurants but not passed on to workers will be liable to income tax. The tax department has instructed officials to verify if there is any 'under-reporting' or 'non-reporting' of income collected as service charge. The CBDT's crackdown comes after the Consumer Affairs Ministry flagged its concerns.
Flipkart deal: Tax dept will act once Walmart obtains regulatory nod
Sunday, June 3, 2018, 1:36 PM
Flipkart has shared some details with the I-T authorities on its USD 16 billion deal with US-based Walmart, but the tax department will act only after regulatory approvals have been obtained, an official said. The department is currently studying the details received from the company, the official said, adding that they can issue notices seeking details of taxes withheld once the transactions are completed.