Circular No. 2/2017 provides clarifications on the taxation and investment rules under the Pradhan Mantri Garib Kalyan Yojana (PMGKY). It explains eligibility, declaration of undisclosed income, tax payment, penalty, and mandatory deposit requirements under the scheme.

Circular No. 5/2017 introduced measures for reducing tax litigation. It directed the Income Tax Department to avoid filing appeals in cases where the tax effect is below prescribed monetary limits, aiming to reduce unnecessary disputes and improve tax administration efficiency.

Corrigendum to Circular No. 1/2017 provides corrections and clarifications relating to TDS on salary under Section 192 of the Income-tax Act. It rectifies certain errors/omissions in the original circular and ensures proper calculation and deduction of tax from salaries by employers.

Circular No. 6/2017 lays down guiding principles for determining the Place of Effective Management (POEM) of a company. It explains the criteria to identify the place where key management and commercial decisions necessary for conducting the company’s business are actually made, which helps determine the company’s residential status for income tax purposes.

Circular No. 7/2017 clarifies the implementation of General Anti-Avoidance Rules (GAAR) provisions under the Income-tax Act. It provides guidance on the applicability of GAAR, grandfathering of investments, interaction with tax treaties, and procedural safeguards to prevent misuse while targeting impermissible tax avoidance arrangements.

Circular No. 8/2017 provides clarification on determining the Place of Effective Management (POEM) for companies other than Indian companies. It explains the guiding principles and factors to identify where key management and commercial decisions necessary for the conduct of a company’s business are actually made for tax residency purposes under the Income-tax Act.

Circular No. 9/2017 clarified the taxation and investment provisions of the Pradhan Mantri Garib Kalyan Yojana (PMGKY), 2016. It explained the tax, surcharge, penalty, and mandatory deposit requirements for declaring undisclosed income, along with procedural aspects and eligibility conditions under the scheme.

Circular No. 10/2017 clarifies the applicability of Income Computation and Disclosure Standards (ICDS) notified under Section 145(2) of the Income-tax Act. It explains how ICDS should be followed for computing taxable income under the heads “Profits and Gains of Business or Profession” and “Income from Other Sources,” and provides guidance through FAQs on issues like revenue recognition, valuation, and disclosures.

Circular No. 11/2017 provides guidelines for waiver of interest charged under Section 201(1A)(i) of the Income-tax Act. It states that interest for delay in deduction of TDS/TCS may be waived in genuine hardship cases if the default occurred due to circumstances beyond the deductor’s control and specific conditions prescribed by the CBDT are satisfied.

clarified the taxation and investment regime under Pradhan Mantri Garib Kalyan Yojana. It allowed taxpayers who had paid tax, surcharge, penalty, and deposit under the scheme by 31 March 2017 to submit Form No. 1 up to 10 April 2017 due to delays in receiving bank challan details.

This circular clarifies that salary earned by a non-resident seafarer for services rendered outside India, even if credited to an NRE (Non-Resident External) account, is not taxable in India, as it is treated as income earned outside India.

This circular clarifies that Cyprus is removed from the list of Notified Jurisdictional Areas under Section 94A of the Income-tax Act, meaning the special anti-avoidance provisions and restrictions (like higher TDS and reporting requirements) will no longer apply to transactions with Cyprus after the notification.

Lease rent from letting out buildings or developed spaces in an industrial park along with facilities (like maintenance, utilities, security, etc.) is treated as a taxable supply of services under GST, not as exempt renting of immovable property.

Issued by the Central Board of Direct Taxes, this corrigendum corrects/clarifies certain points in Circular No. 17/2017, mainly related to TDS provisions and reporting requirements.

Issued by the Central Board of Direct Taxes, this circular clarifies that no TDS (tax deduction at source) is required on payments made to entities whose income is fully exempt under Section 10 of the Income-tax Act, provided valid documentary proof of exemption is submitted.

Foreign Exchange Management (Non-debt Instruments) Rules, 2019

RBI issues Amendment Directions on review of regulatory framework including registration requirement for ‘NBFCs not availing public funds and not having customer interface’ (including ‘Type I NBFCs’)

It explains situations where specified payments (not treated as “rent” under the Act) are not subject to TDS under Section 194-I, to avoid unnecessary deduction disputes.

It explains how seized cash or assets should be appropriated against tax liabilities, ensuring correct interpretation of the provision.

It clarifies that genuine trade advances in the ordinary course of business are not treated as deemed dividends, reducing disputes on this issue.