Income Tax News

Father's name non-mandatory in PAN application form now

21 November 2018 at 11:27

MINISTRY OF FINANCE(Department of Revenue)(CENTRAL BOARD OF DIRECT TAXES)NOTIFICATIONNew Delhi, the 19th November, 2018G.S.R. 1128(E). In exercise of the powers conferred by section 139A read with section 295 of the Income-tax Act, 1961 (43 of 1961),

Posted in Income Tax | 2 comments | 7881 Views

FM Jaitely defends Demonetisation says key step in formalising the economy

09 November 2018 at 11:29

Following is the Text of the Article written by the Union Minister of Finance and Corporate Affairs, Shri Arun Jaitley on completion of two years of Demonetisation entitled � Impact of Demonetisation�:�Today we complete two years af

Posted in Income Tax | 2 comments | 4704 Views

Draft Notification proposing Amendment of Rules 2C, 2CA,10G and others

29 October 2018 at 17:56

Draft Notification proposing Amendment of Rules 2C, 2CA and 11AA and for Nos. 10G, 56 and 56G of the Income-tax Rules, 1962 placed in public domain for inputs from stakeholders and general publicCurrently, for grant of approval under sub-clauses (iv)

Posted in Income Tax | 3 comments | 7053 Views

No further extension of ITR and Tax audit dates says CBDT

26 October 2018 at 11:34

CBDT confirmed that there will be no further extension of ITR and TAR due dates. Rejected Tax bar association Guwahati request. Issues below notification.

Posted in Income Tax | 2 comments | 14019 Views

Cabinet approves appointment of Appellate Tribunal for Benami Property Transaction

25 October 2018 at 11:02

Cabinet approves appointment of Adjudicating Authority and establishment of Appellate Tribunal under Prohibition of Benami Property Transactions Act, 1988The Union Cabinet chaired by Prime Minister Shri Narendra Modi has approved the appointment of A

Posted in Income Tax | 6447 Views

CBDT further extends due date for audit to 31st October

08 October 2018 at 18:27

CBDT further extends due dt for filing of IT Returns & audit reports from 15th Oct,2018 to 31st Oct, 2018 for all assessees liable to file ITRs for AY 2018-19 by 30.09.2018,after considering representations from stakeholders. Liability to pay int

Posted in Income Tax | 23 comments | 85176 Views

Direct tax collection at 5.47 lakh crore growing at 16.7%

05 October 2018 at 10:55

Direct Tax Collections for F.Y. 2018-19 up to September, 2018 (Half-yearly figures) show that gross collections are at Rs. 5.47 lakh crore which is 16.7% higher than the gross collections for the corresponding period of last yearThe provisional figur

Posted in Income Tax | 2 comments | 7296 Views

CBI Arrests an Income Tax Inspector in A Bribery case of Rs. 10 Lakh

05 October 2018 at 10:55

The Central Bureau of Investigation has arrested an Income Tax Inspector, working in the office of Joint Commissioner, Income Tax, Range-III, Lucknow and a private person in a bribery case of Rs. 10 lakh. A case was registered U/s 7 and 7A of PC Act,

Posted in Income Tax | 3639 Views

Key Features of new TDS Return preparation software

04 October 2018 at 10:57

i. Integration of new Encryption certificate in File Validation Utilities (FVUs)- Renewed Encryption certificate with extended validity has been integrated in FVUsii. Incorporation of latest File Validation Utility (FVU) version 5.9 (applicable for T

Posted in Income Tax | 3 comments | 9540 Views