The Income Tax Department has released a Corrigendum to order under section 119 of the Income-tax Act dated 11/01/2021 which clarified that no further extension shall be made in due dates compliances of the Income Tax Act.
The penalty under this Scheme shall be imposed in respect of such territorial area, or persons or class of persons, or income or class of income or cases or class of cases, or penalties or class of penalties as may be specified by the Board.
The public can now file a Tax Evasion Petition through a link on the e-filing website of the Department under the head “File complaint of tax evasion/undisclosed foreign asset/ benami property”.
The Income Tax Department, on 11th January 2021 clarified that no further extension shall be given for Income Tax Returns and Tax Audit Reports. In this regard, they compared the due date extensions of other countries.
CBDT clarifies that there will be no further extensions in the due date for filing Income Tax Returns and Tax Audit Reports.
The Income Tax Department, via their official Twitter handle, has made an announcement stating that the E-Filing Portal will be going under a maintenance activity on 11th Jan 2021 immediately after 12 midnight till 4 AM.
The Income Tax Department has requested taxpayers to give sufficient time before multiple submissions for Aadhaar OTP. This is because of the new restrictions by UIDAI of a maximum of 5 OTP requests for a single Aadhaar within a span of 30 minutes.
The search action has resulted in the seizure of unaccounted cash of Rs. 3.02 crore and jewellery worth Rs. 72 lakh.
The National Securities Depository Limited has released the e-TDS/TCS Return Preparation Utility Ver 3.5 for Regular & Correct e-TDS/TCS.
The Central Board of Indirect Taxes and Customs hereby determines the rate of exchange of conversion of each of the foreign currencies given w.e.f 8th January 2021.
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