Income Tax News
Income-tax (4th Amendment) Rules, 2021
13 March 2021 at 05:21The Central Board of Direct Taxes has released the Income-tax (4th Amendment) Rules, 2021 and has made various amendments with respect to pre-filling the return of income under Rule 114(E) of the Income Tax Rules, 1962.
ICAI extends Condonation Scheme to regularize UDINs to 31st March 2021
12 March 2021 at 22:44The Institute of Chartered Accountants of India has extended the Condonation Scheme to regularize UDINs to 31st March 2021. Thus, all the missed UDINs between the period 1st February 2019 to 10th March 2021 can now be generated up to 31st March 2021.
CBDT amends Form No. 12BA under Income Tax Rules, 1962
12 March 2021 at 21:16CBDT amends Form 12BA Statement showing particulars of perquisites, other fringe benefits or amenities and profits in lieu of salary with value thereof. This Form will be applicable from the 1st day of April 2021.
CBDT issues refunds of over Rs. 2,00,411 crore between 1st April, 2020 to 8th March, 2021
10 March 2021 at 19:07Income tax refunds of Rs. 71,865 crore have been issued in 1,99,44,329 cases & corporate tax refunds of Rs. 1,28,546 crore have been issued in 2,20,372 cases.
CBDT issues clarification in respect of Residency under the IT Act, 1961
03 March 2021 at 22:48Vide Circular No.2 of 2021, it has been provided that if any individual is facing double taxation even after taking into account the relief provided by the relevant DTAA, he/she may furnish the specified information by 31st March, 2021.
CBDT issues refunds of over Rs. 1,98,106 crore between 1st April, 2020 to 28th February, 2021
03 March 2021 at 20:21Income tax refunds of Rs. 70,572 crore have been issued in 1,92,45,556 cases & corporate tax refunds of Rs. 1,27,534 crore have been issued in 2,19,050 cases.
IT Department conducts raid at the properties of film director Anurag Kashyap and actor Taapsee Pannu
03 March 2021 at 14:19The Income Tax Department today carried out raids at the properties of film director Anurag Kashyap, actor Taapsee Pannu and filmmaker Vikas Bahl.
Cross border payments for use of software not taxable as royalty
03 March 2021 at 12:13The Supreme Court on 2nd March 2021 held that Indian Companies need not deduct tax for the amount they pay foreign manufacturers and suppliers for use or re-sale of computer software through end-user license agreements (EULA).
Shri P.C. Mody, Chairman, CBDT inaugurates the Phase II - Mid-Career Training Programme of IRS Officers
02 March 2021 at 05:29Shri P.C. Mody, Chairman, CBDT inaugurates the Phase II - Mid-Career Training Programme of Indian Revenue Service Officers today.
CBDT extends due dates under Income Tax (Penalty & Assessment / Re-assessment) for Dept officers
27 February 2021 at 20:06CBDT has extended various due dates of Assessment and Re-Assessment under the IT Act, together with due dates under the Benami Act for Department Officers
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