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Feb 09, 2016
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Black money: CBDT asks I-T dept to speed up overseas requests
With the current financial year coming to a close soon, CBDT has asked the Income Tax department to speed up select black money and tax evasion probe cases which require cooperation from foreign agencies under existing bilateral treaties. Officials said the Central Board of Direct Taxes (CBDT) has asked the taxman to send across to it all such cases for exchange of information which are getting "time barred" by March 31, the last day of the 2015-16 fiscal. According to an official instruction in this regard, the department officials have been asked to send these requests latest by the end of this month so that they can be scrutinised, formatted and finally sent abroad before March end.
Source -
http://www.business-standard.com
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