Income Tax News

Tax audit and ITR due date extended to 15th October

24 September 2018 at 16:58

CBDT extends due dt for filing of Income Tax Returns & audit reports from 30th Sept,2018 to 15th Oct, 2018

Posted in Income Tax | 16 comments | 96576 Views

Gurugram DGGI arrests two businessmen for fraudulent Rs. 79.21 crore ITC invoices

21 September 2018 at 15:35

Gurugram Zonal Unit of the Directorate General of GST Intelligence (DGGI) arrests two businessmenin a case of fraudulent issuance of Input Tax Credit (ITC) invoices without actual supply of goods, involving evasion of approximately Rs. 79.21 crore on

Posted in Income Tax | 1 comments | 5112 Views

ICAI sends representation to Govt to extend Tax audit reports due date

19 September 2018 at 12:03

THE INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA(Set up by an Act of Parliament)ICAI/DTC/2018-19/Rep�3617th September, 2018Shri Sushil Chandra Ji,Chairman,Central Board of Direct Taxes,Ministry of Finance,Government of India,North Block,New Delh

Posted in Income Tax | 3 comments | 23976 Views

Furnishing of father's name not compulsory for PAN application

01 September 2018 at 12:27

Draft notification proposing amendments in rule 114 of the Income-tax Rules, 1962 and permanent account number application Forms (Form 49A and Form 49AA) - Inviting comments of stakeholdersRule 114 of the Income-tax Rules, 1962 (I.T.Rules) inter alia

Posted in Income Tax | 8 comments | 8526 Views

Govt. invites comments on draft amended Form 13 for Lower Deduction of TDS u/s 197

21 August 2018 at 10:52

Income-tax Rules, 1962 (I.T.Rules) prescribe Form No.13 for filing an application for seeking a certificate under Section 197 and/or under Section 206C (9) of the Income-tax Act, 1961 (the Act), for no deduction of tax or deduction/collection of tax

Posted in Income Tax | 8133 Views

SEBI issues guidelines to Control Black Money in Share Market

11 August 2018 at 17:48

Securities and Exchange Board of India (SEBI), vide circular dated April 27, 2007, has mandated that PAN would be the sole identification number for all participants transacting in the securities market, irrespective of the amount of transaction.Sche

Posted in Income Tax | 4077 Views

Action on those Converting Black Money into White during Demonetization

08 August 2018 at 11:09

Appropriate action by the Income-tax Department (ITD) and other Law Enforcement Agencies has been taken against those involved in the misuse of the Scheme of Demonetization.Such actions by the Income-tax Department included among others, conducting s

Posted in Income Tax | 1 comments | 9306 Views

Income Tax Notices issued for assets holdings by NRIs

08 August 2018 at 11:09

Income Tax Notices have been issued by the Income Tax Department and the Enforcement Directorate. In respect of Income Tax Department, assesses including, non-resident assesses are served notices/summons consequent to the initiation of various procee

Posted in Income Tax | 3621 Views

Income Tax issues Notices for assessment/reassessment of income of old cases

04 August 2018 at 13:16

Notices for assessment/reassessment of income of old casesUnder the provisions of Income-tax Act, 1961 (‘Act’), notices for assessment/reassessment of income of old cases of more than six years from the end of the relevant assessment year

Posted in Income Tax | 11394 Views

Benefits of Grant can be given without Aadhar

03 August 2018 at 11:06

As per section 7 of the Aadhaar (Targeted Delivery of Financial and Other Subsidies, Benefits and Services) Act, 2016, any individual who is desirous of availing any subsidy, benefit or service for which the expenditure is incurred from the Consolida

Posted in Income Tax | 5178 Views