Income Tax News

CBDT to Launch a New E-Filing Portal on 7th June 2021

19 May 2021 at 23:07

The Central Board of Direct Taxes is all set to launch a new E-Filing Portal on 7th June 2021. Thus, in preparation for the launch and migration activities, the existing portal will be unavailable from 1st June 2021 to 6th June 2021.

Posted in Income Tax | 1 comments | 7899 Views

CBDT issues refunds to more than 15 lakh taxpayers between 1st April and 17th May, 2021

19 May 2021 at 19:06

Income tax refunds of Rs. 7,458 crore have been issued in 14,98,488 cases & corporate tax refunds of Rs. 17,334 crore have been issued in 43,661 cases.

Posted in Income Tax | 1278 Views

CBDT makes certain amendments vide Notification No. 47/2021

13 May 2021 at 22:30

Tariff Notification No. 47/2021-Customs (N.T.) in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver.

Posted in Income Tax | 1 comments | 2718 Views

CBDT issues refunds to more than 13 lakh taxpayers between 1st April to 10th May, 2021

13 May 2021 at 05:29

Income tax refunds of Rs. 5,575 crore have been issued in 12,71,401 cases & corporate tax refunds of Rs. 11,486 crore have been issued in 29,592 cases.

Posted in Income Tax | 1560 Views

CBDT extends deadline for updating UDINs in all IT forms till 30th June 2021

12 May 2021 at 16:33

The Central Board of Direct Taxes has given an extension for updating the Unique Document Identification Number generated from the ICAI portal in all the Income Tax Forms and Audit Reports uploaded at the e-filing portal, to 30th June 2021.

Posted in Income Tax | 14268 Views

CBDT clarifies that no directive issued to hospitals for disclosing cash they receive

11 May 2021 at 22:07

The news article published in Business Standard with the headline 'IT goes after hospitals over unaccounted cash' is unsubstantiated, clarifies Finance Ministry and CBDT.

Posted in Income Tax | 1 comments | 7830 Views

CBDT provides relaxation in cash payments of more than Rs. 2 lakhs for hospitals providing COVID treatment

08 May 2021 at 00:20

CBDT grants relaxation of monetary limit u/s 269ST for cash payment above Rs 2.00 lakhs to Hospitals, Dispensaries, Nursing Homes, Covid Care Centres or similar other facilities providing Covid Treatment to patients during 1.4.2021 to 31.5.2021.

Posted in Income Tax | 10440 Views

CBDT notifies amendments to the agricultural extension project

07 May 2021 at 06:02

Central Board of Direct Taxes notifies amendments to the agricultural extension project

Posted in Income Tax | 1842 Views

CBDT determines rate of exchange of conversion of foreign currencies w.e.f 7th May 2021

06 May 2021 at 19:52

CBDT determines that the rate of exchange of conversion of each of the foreign currencies specified in column (2) of each of Schedule I and Schedule II annexed hereto, into Indian currency or vice versa, shall, come into effect from 7th May, 2021

Posted in Income Tax | 1 comments | 2712 Views

CBDT exempts Cash Allowance up to Rs. 36000 received by an employee u/s 10(5) of the Income Tax Act

06 May 2021 at 05:52

A new LTC Cash Voucher Scheme has been notified by the concerned authorities under which Cash Allowance up to Rs. 36000 received by an employee u/s 10(5) of the Income Tax Act is exempt from the AY beginning 1st April 2021.

Posted in Income Tax | 17730 Views