Income Tax News
CBDT | Clarification on continuation of concessional rate of tax on certain interest income of the FPIs
17 March 2021 at 19:15CBDT issues clarification on continuation of concessional rate of tax on interest income of FPIs. It has been clarified that the concessional rate of 5% will continue to be applicable on certain interest income of FPIs.
CBDT issues refunds to more than 2.09 crore taxpayers between 1st April 2020 to 15th March 2021
17 March 2021 at 16:41Income tax refunds of Rs. 73,607 crore have been issued in 2,06,64,547 cases & corporate tax refunds of Rs. 1,31,198 crore have been issued in 2,21,014 cases.
Income Tax | Significant Changes w.e.f 1st April 2021
17 March 2021 at 14:17Significant changes in income tax that would come w.e.f 1st April 2021 has been listed here in a tabular format.
CBDT diversifies existing posts for functional requirement
17 March 2021 at 05:07CBDT hereby makes an amendment in the notification of the Government of India, Ministry of Finance, Central Board of Direct Taxes, No.66/2014 dated 13th November 2014.
CBDT inserts new Form 15E and Amends Rule 29BA
17 March 2021 at 04:57CBDT has released the Income-tax (5th Amendment) Rules, 2021 which will come into force with effect from the 1st day of April 2021. A new Form 15E has been introduced by the competent authority and an amendment has been made under Rule 29BA as well.
82,072 assessment cases completed in faceless manner till 10th March 2021
16 March 2021 at 17:39Income tax assessments are being done in a faceless manner, this was stated by Shri Anurag Singh Thakur, Union Minister of State for Finance & Corporate Affairs, in a written reply to a question in Rajya Sabha today.
Tax relief for industries affected by Coronavirus
15 March 2021 at 17:48In view of the challenges faced by taxpayers due to the outbreak of Novel Corona Virus (COVID-19), the Government of India has taken several taxation measures to extend tax exemptions received by the industries.
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.
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