Income Tax News

Rs. 2,51,411 crore Tax Revenue received upto June 2019

01 August 2019 at 11:42

Monthly Review of Accounts of Union Government of India upto the month of June 2019 for the Financial Year 2019-20.The Monthly Account of the Union Government of India upto the month of June 2019 has been consolidated and reports published.The highli

Posted in Income Tax | 7047 Views

Extension of time to 16th Aug to the Task Force for drafting a New Direct Tax Legislation

01 August 2019 at 11:42

A Task Force was constituted by the Government in November, 2017 to review the existing Income-tax Act, 1961 and to draft a new direct tax law in consonance with economic need s of the country. It was required to submit its report by 31st of July, 20

Posted in Income Tax | 2316 Views

Foreign Assets worth Rs. 200 crore found in IT search

29 July 2019 at 11:26

Income Tax Department conducted searches on 23rd July, 2019 in a group covering 13 premises across 3 States (Delhi, Haryana & Himachal Pradesh).The group, controlled by persons who have significant political presence in a neighbouring State for d

Posted in Income Tax | 8757 Views

FM asks Tax officers to deal firmly with Tax evaders

25 July 2019 at 11:44

Finance Minister exhorted Income Tax officers to be prompt in redressing the grievances of the tax payersFinance Minister asks Tax officers to deal firmly with Tax evaders Income Tax Department celebrates Aaykar Diwas 2019The Union Minister of Financ

Posted in Income Tax | 6831 Views

3 people arrested in Gurugram for fraudulent ITC claim of Rs. 5.7 crores

25 July 2019 at 11:44

CGST Commissionerate, Gurugram arrest Three persons for committing offences under CGST Act CGST Commissionerate, Gurugram, Haryana has arrested three persons namely, Sh. Sh. Anil Kumar, S/o Sh. Balwan Singh, R/o VPO Jevra, Tehsil Barwala, Dist.- Hisa

Posted in Income Tax | 2499 Views

Due date for ITR extended to 31st August 2019

23 July 2019 at 19:42

Due date for ITR extended to 31st August 2019

Posted in Income Tax | 32 comments | 48204 Views

ITR-2 and ITR-5 utilities modified to fix bugs

23 July 2019 at 11:55

ITR-2 & ITR-5 utilities are modified to fix bugs identified while filling Schedule FA in ITR-2 (Java utility), Partners information is ITR-5 (Java utility) and Part A-General answer to Investment Fund query in ITR-5 (Excel utility). These bug fix

Posted in Income Tax | 7416 Views

Representation to include Cost Accountant as Accountant under IT Act

22 July 2019 at 11:50

Modification of the term "Accountant" as appearing in the Explanation below sub-section (2) of section 288 of the Income Tax Act, 1961 to include the "Cost Accountant" thereinThe Institute of Cost Accountants of India (ICAI) is a

Posted in Income Tax | 11 comments | 10254 Views

Scrip wise details of entering LTCG is optional in ITR says CBDT

22 July 2019 at 11:50

Schedule 112A and 115AD(1)(iii) of long term capital gain are provided in the Income Tax Return software as per the Instructions to the Notified ITR form and based on taxpayer feedback.Taxpayers have an option to either enter the Scrip wise details o

Posted in Income Tax | 1 comments | 2565 Views

CBDT clarifies no major changes have been introduced in the ITR-2 and ITR-3

17 July 2019 at 12:31

CBDT issues clarification on incorrect reports in social media pertaining to difficulty in filing of Income Tax ReturnsCentral Board of Direct Taxes (CBDT) has said today that no changes have been made in any of the Income-tax Return (ITR) forms incl

Posted in Income Tax | 10 comments | 21600 Views