Income Tax News

CBDT issues refunds to more than 13 lakh taxpayers between 1st April to 10th May, 2021

13 May 2021 at 05:29

Income tax refunds of Rs. 5,575 crore have been issued in 12,71,401 cases & corporate tax refunds of Rs. 11,486 crore have been issued in 29,592 cases.

Posted in Income Tax | 1554 Views

CBDT extends deadline for updating UDINs in all IT forms till 30th June 2021

12 May 2021 at 16:33

The Central Board of Direct Taxes has given an extension for updating the Unique Document Identification Number generated from the ICAI portal in all the Income Tax Forms and Audit Reports uploaded at the e-filing portal, to 30th June 2021.

Posted in Income Tax | 14253 Views

CBDT clarifies that no directive issued to hospitals for disclosing cash they receive

11 May 2021 at 22:07

The news article published in Business Standard with the headline 'IT goes after hospitals over unaccounted cash' is unsubstantiated, clarifies Finance Ministry and CBDT.

Posted in Income Tax | 1 comments | 7818 Views

CBDT provides relaxation in cash payments of more than Rs. 2 lakhs for hospitals providing COVID treatment

08 May 2021 at 00:20

CBDT grants relaxation of monetary limit u/s 269ST for cash payment above Rs 2.00 lakhs to Hospitals, Dispensaries, Nursing Homes, Covid Care Centres or similar other facilities providing Covid Treatment to patients during 1.4.2021 to 31.5.2021.

Posted in Income Tax | 10389 Views

CBDT notifies amendments to the agricultural extension project

07 May 2021 at 06:02

Central Board of Direct Taxes notifies amendments to the agricultural extension project

Posted in Income Tax | 1839 Views

CBDT determines rate of exchange of conversion of foreign currencies w.e.f 7th May 2021

06 May 2021 at 19:52

CBDT determines that the rate of exchange of conversion of each of the foreign currencies specified in column (2) of each of Schedule I and Schedule II annexed hereto, into Indian currency or vice versa, shall, come into effect from 7th May, 2021

Posted in Income Tax | 1 comments | 2679 Views

CBDT exempts Cash Allowance up to Rs. 36000 received by an employee u/s 10(5) of the Income Tax Act

06 May 2021 at 05:52

A new LTC Cash Voucher Scheme has been notified by the concerned authorities under which Cash Allowance up to Rs. 36000 received by an employee u/s 10(5) of the Income Tax Act is exempt from the AY beginning 1st April 2021.

Posted in Income Tax | 17712 Views

CBDT issues refunds to more than 11.73 lakh taxpayers between 1st April 2021 and 3rd May 2021

05 May 2021 at 14:06

Income tax refunds of Rs. 5,047 crore have been issued in 11,51,408 cases & corporate tax refunds of Rs. 10,392 crore have been issued in 21,487 cases.

Posted in Income Tax | 1113 Views

CBDT specifies conditions wherein an eligible foreign investor is not required to quote Aadhaar/Enrollment ID for filing of an ITR

05 May 2021 at 05:31

CBDT has released the Income-tax (14th Amendment) Rules, 2021 under which conditions have been specified wherein an eligible foreign investor is not required to quote Aadhaar/Enrollment ID for filing of an ITR u/s 139A.

Posted in Income Tax | 1029 Views

CBDT notifies certain pension funds under Section 10(23FE)

05 May 2021 at 05:23

CBDT has notified pension funds namely Caisse de dépôt et placement du Québec, Ivanhoe Logistics India Inc and CDPQ Fixed Income XI Inc as specified persons u/s 10(23FE) of the IT Act via Notification No's - S.O. 1732(E), S.O. 1734(E) and S.O. 1735 (E).

Posted in Income Tax | 1986 Views