Income Tax News

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 | 1344 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 | 9528 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

Tax relief for industries affected by Coronavirus

15 March 2021 at 17:48

In view of the challenges faced by taxpayers due to the outbreak of Novel Corona Virus (COVID-19), the Government of India has taken several taxation measures to extend tax exemptions received by the industries.

Posted in Income Tax | 2 comments | 9612 Views

Income-tax (4th Amendment) Rules, 2021

13 March 2021 at 05:21

The Central Board of Direct Taxes has released the Income-tax (4th Amendment) Rules, 2021 and has made various amendments with respect to pre-filling the return of income under Rule 114(E) of the Income Tax Rules, 1962.

Posted in Income Tax | 2 comments | 13608 Views