Income Tax News
CBDT issues refunds to more than 63.23 lakh taxpayers from 1st April to 18th October 2021
22 October 2021 at 08:33CBDT issues refunds of over Rs. 92,961 crore to more than 63.23 lakh taxpayers from 1st April, 2021 to 18th October, 2021.
Over 2 crore ITRs filed on the New IT Portal amid Reporting of Technical Glitches
15 October 2021 at 09:16More than 2 crore ITRs for AY 2021-22 have been filed on the portal, of which ITRs 1 & 4 constitute 86%. It is encouraging to note that more than 1.70 crore returns have been e-verified, out of which 1.49 crore are through Aadhaar based OTP.
CBDT issues refunds to more than 59.51 lakh taxpayers from 1st April to 11th October 2021
14 October 2021 at 06:09Income tax refunds of Rs. 22,214 crore have been issued in 57,83,032 cases & corporate tax refunds of Rs. 62,567 crore have been issued in 1,67,718 cases. This includes 29.23 lakh refunds of AY 2021-22 amounting to Rs. 2241.39 crore.
CBDT issues refunds to more than 53.54 lakh taxpayers from 1st April to 4th October, 2021
06 October 2021 at 20:10Income tax refunds of Rs. 20,510 crore have been issued in 51,88,762 cases &corporate tax refunds of Rs. 61,719 crore have been issued in 1,65,397 cases. This includes 24.73 lakh refunds of AY 2021-22 amounting to Rs. 1903.05 crore.
Government takes note of the data trove in the Pandora Papers leak
05 October 2021 at 05:48On 3rd October 2021, the International Consortium of International Journalists (ICIJ) has come out with what is claimed to be a 2.94 terabyte data trove that exposes the offshore secrets of wealthy elites from more than 200 countries and territories.
CBDT notifies Rules for implementing the amendments made by the Taxation Laws(Amendment) Act, 2021
02 October 2021 at 15:41No tax demand shall be raised in future on the basis of the amendment to section 9 of the Income-tax Act made vide Finance Act, 2012 for any offshore indirect transfer of Indian assets if the transaction was undertaken before 28th May 2012.
CBDT issues order u/s 119(2)(b) for filing applications for settlement before Interim Board for Settlement by 30th September 2021
29 September 2021 at 06:01CBDT has authorized the Commissioner of Income Tax to admit an application for settlement on behalf of the Interim Board filed after 31.01.2021 and before 30.09.2021 and treat such applications as valid and process them as "pending applications".
Gross Direct Tax collections for the FY 2021-22 register a growth of 47%
24 September 2021 at 19:35The Net Direct Tax collection of Rs. 5,70,568 crore (as on 22.09.2021) include Corporation Tax (CIT) at Rs. 3,02,975 crore (net of refund) and Personal Income Tax (PIT) including Security Transaction Tax(STT) at Rs. 2,67,593 crore (net of refund).
CBDT issues refunds to more than 45.25 lakh taxpayers from 1st April to 20th September 2021
23 September 2021 at 05:55Income tax refunds of Rs. 18,873 crore have been issued in 43,68,741cases &corporate tax refunds of Rs. 55,285 crore have been issued in 1,55,920 cases.
Income tax Department raids premises of former Maharashtra Home Minister Anil Deshmukh
21 September 2021 at 05:46Evidence found during the search clearly indicates concealment of income to the extent of about Rs. 17 crore. Several bank lockers found during the course of the search operation have been put under prohibitory orders.
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