Income Tax News


ICAI sends representation to CBDT for extension of time for submission of Tax Audit reports

   23 September 2019 at 17:49

Representation to CBDT requesting for extension of time for submission of Tax Audit Reports and related returns from 30th September, 2019 to 30th November, 2019..

Posted in Income Tax  17 comments |   35889 Views


Big Bang reform : Corporate tax rates slashed to 22% for domestic companies and 15% for new manufacturing companies

   20 September 2019 at 12:34

The Government has brought in the Taxation Laws (Amendment) Ordinance 2019 to make certain amendments in the Income-tax Act 1961 and the Finance (No. 2) Act 2019. This was announced by the Union Minister for Finance & Corporate Affairs Smt Nirmal

Posted in Income Tax  9 comments |   27060 Views


2% TDS on cash payment withdrawn for Farmers

   18 September 2019 at 11:40

Addressing the concerns raised by Agriculture Produce Market Committees (APMCs), it has been decided not to levy the 2% TDS on cash payments above Rs 1 crore made through APMCs, in order to make immediate payments to farmers for their produce.

Posted in Income Tax  3 comments |   11976 Views


E-assessment scheme notified by CBDT

   13 September 2019 at 17:56

NOTIFICATIONNew Delhi, the 12th September, 2019(INCOME-TAX)S.O. 3265(E).- In exercise of the powers conferred by sub-section (3B) of section 143 of the Income-tax Act, 1961 (43 of 1961), for the purposes of giving effect to the E-assessment Scheme, 2

Posted in Income Tax |   4965 Views


Cost inflation index for 2019-20 notified as 289

   13 September 2019 at 12:31

Cost inflation index for 2019-20 notified as 289

Posted in Income Tax |   8640 Views


Amendment in requirements for approval of an institution or fund under section 80G

   12 September 2019 at 11:32

Income-tax (6th Amendment) Rules, 2019

Posted in Income Tax |   6537 Views


Relaxation of compounding of offences to 12 month under IT Act

   12 September 2019 at 11:32

Relaxation of time-Compounding of Offences under Direct Tax Laws-One-time measure

Posted in Income Tax |   1794 Views


LTCG and STCG cases added as exception to monetary limits for filing appeals by dept

   09 September 2019 at 10:59

Circular No. 23 of20l9 F. No. 279/Misc.lM-93/20l8-ITJ(Pt.)Government of IndiaMinistry of FinanceDepartment of RevenueCentral Board Direct TaxesJudicial SectionCircular No. 23 of20l9New Delhi, 6th September 2019Subject: Exception to monetary limits fo

Posted in Income Tax |   11490 Views


CBDT guidelines for manual selection of scrutiny for 2019-20

   06 September 2019 at 11:27

F.No.225/169/2019/ITA-11 Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes (ITA-II division) North Block, New Delhi, the 5th September, 2019 To All Pr. Chief-Commissioners of Income-tax/Chief-Commissioner of

Posted in Income Tax |   24444 Views


CBDT consolidated Circulars for Start-ups

   03 September 2019 at 11:33

In order to provide hassle-free tax environment to the Start-ups, a series of announcements have been made by Union Finance & Corporate Affairs Minister Smt. Nirmala Sitharaman in her General Budget Speech, 2019, and also on 23rd August 2019. To

Posted in Income Tax |   7164 Views