Income Tax News

CBDT issues refunds of more than Rs. 2.62 lakh crore upto 31st March 2021

01 April 2021 at 19:03

Central Board of Direct Taxes (CBDT) has issued refunds of more than Rs. 2.62 lakh crore to more than 2.38 crore taxpayers from 1st April, 2020 to 31st March, 2021.

Posted in Income Tax | 933 Views

Govt backtracks on notification to slash interest rates on small savings

01 April 2021 at 10:52

Interest rates of small savings schemes of GoI shall continue to be at the rates which existed in the last quarter of 2020-2021, ie, rates that prevailed as of March 2021.

Posted in Income Tax | 1551 Views

CBDT | Faceless Appeal (Amendment) Scheme, 2021

01 April 2021 at 05:54

The Central Board of Direct Taxes has released the Faceless Appeal (Amendment) Scheme, 2021 in order to further amend the Faceless Appeal Scheme, 2020.

Posted in Income Tax | 2379 Views

CBDT issues refunds to more than 2.37 crore taxpayers between 1st April, 2020 to 29th March, 2021

31 March 2021 at 22:14

Income tax refunds of Rs. 85,012 crore have been issued in 2,33,78,418 cases & corporate tax refunds of Rs. 1,39,817 crore have been issued in 2,85,438 cases.

Posted in Income Tax | 1023 Views

Last date for linking of Aadhaar number with PAN extended to 30th June 2021

31 March 2021 at 21:53

Keeping in view the difficulties faced by the taxpayers, the Central Government has issued notification today extending the last date for the intimation of Aadhaar number and linking thereof with PAN to 30th June, 2021.

Posted in Income Tax | 1743 Views

Mass SMS sent by IT Dept giving assessees time till 31st March to respond on high value transaction

31 March 2021 at 05:17

Mass SMS sent by IT Dept giving assessees time till 31st March to respond whilst the compliance portal is not working

Posted in Income Tax | 5 comments | 26853 Views

CBDT makes amendments to Rule 2C vide Income-tax (6th Amendment) Rules, 2021

27 March 2021 at 04:52

The Central Board of Direct Taxes has released the Income-tax (6th Amendment) Rules, 2021 wherein, further amendments have been made in Rule 2C of the Income-tax Rules, 1962.

Posted in Income Tax | 10767 Views

Reporting under clause 30C & 44 of the Tax Audit Report to be kept in abeyance till 31st March 2022

26 March 2021 at 05:14

In view of the prevailing situation due to COVID-19 pandemic across the country, it has been decided by the Board that the reporting under clause 30C and clause 44 of the Tax Audit Report shall be kept in abeyance till 31st March, 2022.

Posted in Income Tax | 8862 Views

CBDT issues refunds to more than 2.24 crore taxpayers between 1st April 2020 to 22nd March 2021

24 March 2021 at 19:05

Income tax refunds of Rs. 79,483 crore have been issued in 2,21,92,812 cases & corporate tax refunds of Rs. 1,34,340 crore have been issued in 2,22,188 cases.

Posted in Income Tax | 1137 Views

CBDT | Clarifications on provisions of the Direct Tax Vivad se Vishwas Act, 2020

24 March 2021 at 10:21

CBDT has issued a clarification on the provisions of the Direct Tax Vivad se Vishwas Act, 2020, wherein further clarity with regard to the classification of a case as a ‘search ease’ has been issued by the concerned authorities.

Posted in Income Tax | 2154 Views