Income Tax News
CBDT issues refunds to more than 15.47 lakh taxpayers between 1st April to 31st May, 2021
04 June 2021 at 18:41Income tax refunds of Rs. 7,538 crore have been issued in 15,02,854 cases & corporate tax refunds of Rs. 18,738 crore have been issued in 44,531 cases.
CBDT member JB Mohapatra handed over the charge of Chairman
01 June 2021 at 06:29Upon completion of his tenure, here is the outgoing Chairman CBDT, Sh. PC Mody handing over the charge of Chairman, CBDT to Sh. JB Mohapatra, Member, CBDT, who will hold the charge in addition to his regular duties.
CBDT issues refunds to more than 15.45 lakh taxpayers between 1st April and 24th May 2021
26 May 2021 at 17:03Income tax refunds of Rs. 7,494 crore have been issued in 15,00,397 cases & corporate tax refunds of Rs. 17,807 crore have been issued in 44,140 cases.
CBDT issues clarification w.r.t limitation for filing of appeals before CIT(Appeals) under IT Act,1961
25 May 2021 at 22:35The Central Board of Direct Taxes clarifies that if different relaxations are available to the taxpayers for a particular compliance, the taxpayer is entitled to the relaxation which is more beneficial to him.
CBDT issues Procedure for exercise of option u/s 245M(1) and furnishing & upload of Form No. 34BB under Rule 44DA(1)
25 May 2021 at 07:14The Central Board of Direct Taxes has issued the procedure for the exercise of option under sub-section (1) of section 245M and intimation thereof by furnishing and upload of Form No. 3488 under sub-rule (1) of Rule 44DA of Income-tax Rules, 1962.
CBDT issues Amendment in Computation of Fair Market Value of Capital Assets for the purposes of section 50B of the Income-tax Act
25 May 2021 at 06:46CBDT has released the Income Tax (16th Amendment) Rules, 2021 wherein, an amendment has been made in the computation of Fair Market Value of Capital Assets for the purposes of section 50B of the Income Tax Act.
CBDT extends due dates of Income Tax Return, Tax Audit, TDS Statement and Others
20 May 2021 at 17:45The Central Board of Direct Taxes has extended the due dates of Income Tax Return, Tax Audit, TDS Statement and Other Compliances to provide relief to taxpayers in view of the COVID-19 pandemic.
CBDT to Launch a New E-Filing Portal on 7th June 2021
19 May 2021 at 23:07The 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.
CBDT issues refunds to more than 15 lakh taxpayers between 1st April and 17th May, 2021
19 May 2021 at 19:06Income 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.
CBDT makes certain amendments vide Notification No. 47/2021
13 May 2021 at 22:30Tariff Notification No. 47/2021-Customs (N.T.) in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver.
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