Income Tax News

Reporting under clause 30C & 44 of the Tax Audit Report to be kept in abeyance till 31st March 2022

26 March 2021 at 05:14

In view of the prevailing situation due to COVID-19 pandemic across the country, it has been decided by the Board that the reporting under clause 30C and clause 44 of the Tax Audit Report shall be kept in abeyance till 31st March, 2022.

Posted in Income Tax | 8823 Views

CBDT issues refunds to more than 2.24 crore taxpayers between 1st April 2020 to 22nd March 2021

24 March 2021 at 19:05

Income tax refunds of Rs. 79,483 crore have been issued in 2,21,92,812 cases & corporate tax refunds of Rs. 1,34,340 crore have been issued in 2,22,188 cases.

Posted in Income Tax | 1086 Views

CBDT | Clarifications on provisions of the Direct Tax Vivad se Vishwas Act, 2020

24 March 2021 at 10:21

CBDT has issued a clarification on the provisions of the Direct Tax Vivad se Vishwas Act, 2020, wherein further clarity with regard to the classification of a case as a ‘search ease’ has been issued by the concerned authorities.

Posted in Income Tax | 2109 Views

CBDT releases Updated Form 64D

19 March 2021 at 05:22

An updated version of form 64D as per notification no. 55/2020 is now available for filing by the Central Board of Direct Taxes on the E-Filing Portal.

Posted in Income Tax | 1 comments | 11403 Views

CBDT | Clarification on continuation of concessional rate of tax on certain interest income of the FPIs

17 March 2021 at 19:15

CBDT issues clarification on continuation of concessional rate of tax on interest income of FPIs. It has been clarified that the concessional rate of 5% will continue to be applicable on certain interest income of FPIs.

Posted in Income Tax | 1338 Views

CBDT issues refunds to more than 2.09 crore taxpayers between 1st April 2020 to 15th March 2021

17 March 2021 at 16:41

Income tax refunds of Rs. 73,607 crore have been issued in 2,06,64,547 cases & corporate tax refunds of Rs. 1,31,198 crore have been issued in 2,21,014 cases.

Posted in Income Tax | 1122 Views

Income Tax | Significant Changes w.e.f 1st April 2021

17 March 2021 at 14:17

Significant changes in income tax that would come w.e.f 1st April 2021 has been listed here in a tabular format.

Posted in Income Tax | 5 comments | 22824 Views

CBDT diversifies existing posts for functional requirement

17 March 2021 at 05:07

CBDT hereby makes an amendment in the notification of the Government of India, Ministry of Finance, Central Board of Direct Taxes, No.66/2014 dated 13th November 2014.

Posted in Income Tax | 1737 Views

CBDT inserts new Form 15E and Amends Rule 29BA

17 March 2021 at 04:57

CBDT has released the Income-tax (5th Amendment) Rules, 2021 which will come into force with effect from the 1st day of April 2021. A new Form 15E has been introduced by the competent authority and an amendment has been made under Rule 29BA as well.

Posted in Income Tax | 9525 Views

82,072 assessment cases completed in faceless manner till 10th March 2021

16 March 2021 at 17:39

Income tax assessments are being done in a faceless manner, this was stated by Shri Anurag Singh Thakur, Union Minister of State for Finance & Corporate Affairs, in a written reply to a question in Rajya Sabha today.

Posted in Income Tax | 1176 Views