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Income Tax News


6 lacs less Income tax return filers in FY 2019 vis-a-vis FY 2018

   04 May 2019 at 13:35

After clocking steep growth rates over the last few years (an average of 25% in the three years to FY18), the number of taxpayers filing income-tax e-returns saw a marginal contraction in FY19. In FY19, only 6.68 crore returns were filed online, 1% l

Posted in Income Tax  1 comments |   7890 Views


ITR 2 for AY 2019-20 is now available for e-filing along with ITR-1 & 4

   03 May 2019 at 11:18

ITR 1, 2 & 4 for AY 2019-20 is now available for e-Filing. Other ITRs will be available shortly. The Forms can be downloaded as mentioned below: Form Description Software Form 1 (Equalisation levy) Statement of Specified Servic

Posted in Income Tax  2 comments |   7092 Views


Income Tax Department continues search action in J&K Region

   26 April 2019 at 12:16

Government of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Direct Taxes New Delhi, 25th April, 2019Income Tax Department continues search action in J&K RegionIncome Tax Department conducted search and seizure operations at 5 loca

Posted in Income Tax  2 comments |   5238 Views


Amendment of Form 16 and Form 24Q

   16 April 2019 at 18:08

MINISTRY OF FINANCE(Department of Revenue)(CENTRAL BOARD OF DIRECT TAXES)NOTIFICATIONNew Delhi, the 12th April, 2019G.S.R. 304(E).—In exercise of powers conferred by sections 200 and 203 read with section 295 of the Incometax Act, 1961 (43 of 1

Posted in Income Tax |   13143 Views


Taxman to go after 65,000 non-filers for 2016-17

   10 April 2019 at 11:58

The Income Tax Department will initiate recovery of tax along with penalty from approximately 65,000 assessees who deposited Rs.10 lakh or more in their bank account during demonetisation, but did not file return for the assessment year 2017-18 (fina

Posted in Income Tax  2 comments |   7479 Views


ITR-1 and ITR- 4 for AY 2019-20 are now available for e-filing

   09 April 2019 at 20:55

The all new ITRs - ITR-1 and ITR-4 are now available to file the online return for the FY 2018-19. The last date to file the return is 31st July 2019. Other returns will also be made live shortly.These ITRs are applicable for,ITR- 1Applicable for: I

Posted in Income Tax  4 comments |   9978 Views


IT officials conduct raid on 52 locations in 4 states

   09 April 2019 at 11:23

Government of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Direct Taxes New Delhi, 8th April, 2019Brief highlights of the recent searches in NCR, Bhopal, Indore and GoaBased upon credible information of large scale collection, posses

Posted in Income Tax  12 comments |   11088 Views


Extension of the due date for furnishing report u/s 286(4) to 30th April 2019

   09 April 2019 at 11:23

F No 370142/17/2018 -IPL Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes Circular No.7/2019New Delhi, April 8, 2019 Order under section 119 of the Income-tax Act, 1961 Vide Notification in GSR 1217 (E) date

Posted in Income Tax |   9927 Views


CBIC issues clarification for taxpayers opting composition scheme

   08 April 2019 at 11:18

Circular No. 97/16/2019-GSTF. No. CBEC-20/16/04/2018 � GST (Pt. I)Government of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Indirect Taxes and CustomsGST Policy Wing****New Delhi, Dated the 5th April 2019To,The Principal Chief

Posted in Income Tax |   8301 Views


ITR Forms for AY 2019-20 notified by CBDT

   05 April 2019 at 11:32

New ITR forms have been released by CBDT for the assessment year 2019-20. They will have come into force from 1st April 2019.

Posted in Income Tax  1 comments |   16110 Views