Income Tax News

CBDT issues notification specifying format, procedure and guidelines for submission of SFT for Dividend Income

23 April 2021 at 05:13

The Central Board of Direct Taxes has notified the Format, Procedure and Guidelines for submission of SFT for Dividend Income under Section 285BA of the Income Tax Act, 1961 and Rule 114E that requires specified reporting persons to furnish SFT.

Posted in Income Tax | 1752 Views

CBDT notifies Canada Pension Plan Investment Board under Section 10(23FE)

23 April 2021 at 04:53

The Central Board of Direct Taxes has specified the pension fund, namely, the Canada Pension Plan Investment Board, as the specified person under Section 10(23FE) of the Income Tax Act.

Posted in Income Tax | 1332 Views

Request for Extension of Income Tax Due Dates and Time Barring Assessments

22 April 2021 at 15:24

The Lucknow CA Tax Practitioners Association has requested the Finance Minister Smt. Nirmala Sitharaman to extend various due dates under the Income Tax Act, together with the time barring date for the assessments which require a personal hearing.

Posted in Income Tax | 2 comments | 10818 Views

CBDT issues refunds to more than 7.39 lakh taxpayers between 1st April to 19th April, 2021

21 April 2021 at 22:09

Income tax refunds of Rs. 3,073 crore have been issued in 7,23,561 cases & corporate tax refunds of Rs. 2,577 crore have been issued in 15,206 cases.

Posted in Income Tax | 1191 Views

CBDT notifies audit report to be filed by the Sovereign Wealth Fund claiming exemption u/s 10(23FE)

21 April 2021 at 05:23

The Central Board of Direct Taxes has notified ‘Norfund, Govt of Norway’ as a Sovereign Wealth Fund and has specified the audit report to be filed by them for claiming exemption under Section 10(23FE).

Posted in Income Tax | 1464 Views

CBDT releases new Form 10BBA to relax provisions for Pension Fund to avail exemption

17 April 2021 at 05:08

The Central Board of Direct Taxes has released the Income-tax (10th Amendment) Rules, 2021 to further amend the Income-tax Rules, 1962.

Posted in Income Tax | 2019 Views

ITR-1 and ITR-4 forms for AY 2021-22 | Offline Utility Guide

05 April 2021 at 05:17

Steps to Download and install Offline Utility and fill the forms ITR-1 & ITR-4 for the AY 2021-22 have been listed in this news piece.

Posted in Income Tax | 11760 Views

CBDT releases JSON utility for forms ITR-1 and ITR-4 for AY 2021-22

03 April 2021 at 22:07

CBDT releases the new ITR 1 and ITR 4 forms for the AY 2021-22 in the JSON utility. Instructions for the usage of these offline utilities have been listed here...

Posted in Income Tax | 6633 Views

CBDT makes amendments in Rule 6G vide Income-tax (eighth Amendment) Rules, 2021

02 April 2021 at 05:45

The Central Board of Direct Taxes have released the Income Tax (Eighth Amendment) Rules, 2021, in order to further amend the Income Tax Rules, 1962 and, have added a sub rule (3) after rule 6G of the Rules.

Posted in Income Tax | 16788 Views

CBDT expands authorities of Director of Income Tax (Centralized Processing Centre), Bengaluru and Commissioner of Income-Tax (Exemption), Bengaluru

02 April 2021 at 05:40

The Central Board of Direct Taxes has expanded the authorities of Director of Income Tax (Centralized Processing Centre), Bengaluru and Commissioner of Income-Tax (Exemption), Bengaluru under provisions of the Income Tax Rules, 1962.

Posted in Income Tax | 2 comments | 1710 Views