Income Tax News


MAT benefit denied to company opting for Corporate tax of 22%

   03 October 2019 at 13:35

Clarifications in respect of- option exercised under section 115HAA of the Income-tax Act, 1961 inserted through The Taxation Laws (Amendment) Ordinance, 2019- reg

Posted in Income Tax  1 comments |   8196 Views


IT Department seizes 4 crore black money since declaration of Maharashtra Election

   03 October 2019 at 13:35

Four crore rupees worth of black money seized since declaration of Maharashtra Assembly Elections: DGIT (Investigation) DG of Income Tax (Investigation) briefs the media on steps taken by the Income Tax Department to curb use of black money and c

Posted in Income Tax |   2244 Views


DIN system of CBDT generates 17500 communication on first day

   01 October 2019 at 20:23

The Documentation Identification Number (DIN) system of Central Board of Direct Taxes (CBDT) has come into existence from today with the generation of about 17,500 communications with DIN on the very first day.

Posted in Income Tax |   2730 Views


Due date for linking of PAN with Aadhaar extended to 31st Dec 2019

   30 September 2019 at 12:05

Due date for linking of PAN with Aadhaar extended to 31st Dec 2019

Posted in Income Tax |   4626 Views


IT Dept clarifies the conduct of assessment proceeding through "e-proceeding" facility

   28 September 2019 at 10:32

IT Dept clarifies the conduct of assessment proceeding through "e-proceeding" facility

Posted in Income Tax |   9174 Views


CBDT gives last minute further clarification for filling up return forms for AY 19-20

   27 September 2019 at 11:14

Clarifications in respect of filling-up of return forms for the Assessment Year 2019-20 The Income-tax Return (ITR) forms for the Assessment Year (A.Y.) 2019-20 were notified vide notification bearing G.S.R. 279(E) dated the O1st day of April, 2019.

Posted in Income Tax |   48576 Views


CBDT finally extends Tax Audit due date to 31st October

   26 September 2019 at 22:52

On consideration of representations recd from across the country,CBDT has decided to extend the due date for filing of ITRs & Tax Audit Reports from 30th Sep,2019 to 31st of Oct,2019 in respect of persons whose accounts are required to be audited

Posted in Income Tax  53 comments |   35370 Views


Income Tax Dept clarifies no extension of Tax audit due date yet

   25 September 2019 at 12:42

The notification of due date extension pertaining to filing of ITRs that is being circulated on social media platforms is not genuine. Taxpayers are advised not to fall prey to such false news.

Posted in Income Tax  6 comments |   57180 Views


ICAI sends representation to CBDT for extension of time for submission of Tax Audit reports

   23 September 2019 at 17:49

Representation to CBDT requesting for extension of time for submission of Tax Audit Reports and related returns from 30th September, 2019 to 30th November, 2019..

Posted in Income Tax  17 comments |   35892 Views


Big Bang reform : Corporate tax rates slashed to 22% for domestic companies and 15% for new manufacturing companies

   20 September 2019 at 12:34

The Government has brought in the Taxation Laws (Amendment) Ordinance 2019 to make certain amendments in the Income-tax Act 1961 and the Finance (No. 2) Act 2019. This was announced by the Union Minister for Finance & Corporate Affairs Smt Nirmal

Posted in Income Tax  9 comments |   27063 Views



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