Due date for ITR extended to 31st August 2019
ITR-2 & ITR-5 utilities are modified to fix bugs identified while filling Schedule FA in ITR-2 (Java utility), Partners information is ITR-5 (Java utility) and Part A-General answer to Investment Fund query in ITR-5 (Excel utility). These bug fix
Modification of the term "Accountant" as appearing in the Explanation below sub-section (2) of section 288 of the Income Tax Act, 1961 to include the "Cost Accountant" thereinThe Institute of Cost Accountants of India (ICAI) is a
Schedule 112A and 115AD(1)(iii) of long term capital gain are provided in the Income Tax Return software as per the Instructions to the Notified ITR form and based on taxpayer feedback.Taxpayers have an option to either enter the Scrip wise details o
CBDT issues clarification on incorrect reports in social media pertaining to difficulty in filing of Income Tax ReturnsCentral Board of Direct Taxes (CBDT) has said today that no changes have been made in any of the Income-tax Return (ITR) forms incl
Taxpayers are requested to note the followings in connection with pre-filling of ITRs-1. Pre-filling of ITR is only for the taxpayer's convenience. Taxpayers should verify the pre-filled data carefully and add any other taxable income which is no
Government has recently changed Form 16 and Form 24 Q to bring more disclosures. In order to enable pre-filling of return of income of salaried taxpayers, the Government has amended Form No. 16 (certificate for tax deduction) and Form No. 24Q (quart
The Government is continuously taking several initiatives to enhance the technology back bone of the Income Tax Department (ITD). ITD is having a dedicated directorate called �Directorate of System� which handles the technology aspects of
Central Board of Direct Taxes had issued Circular 10/2018 dated 31.12.2018 to clarify that provisions of section 56(2)(viia) of the Income-tax Act, 1961 being anti-abuse provisions shall not be applicable in cases of receipt of shares by the specifie
The Income Tax Department conducted search and seizure operations on 27.06.2019 on a prominent business group based in Srinagar, covering 4 premises in the Kashmir Valley and 6 places in the Jammu region. Apart from the premises in J&K, 10 other
Landmark Judgments: Important Provisions of the EPF & ESI Act interpreted by the Honorable Supreme Court of India
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