Income Tax News

Income tax office to remain open on 29th,30th and 31st March

28 March 2018 at 10:41

The last date for filing belated returns for Assessment Years 2016-17 and 2017-18 and revised returns for Assessment Year 2016-17 is 31st March, 2018. The Financial Year 2017-18 closes on 31st March, 2018 which is a Saturday. 29th & 30th March, 2

Posted in Income Tax | 6 comments | 6318 Views

CBDT extends date for linking Aadhar with PAN till 30th June 2018

28 March 2018 at 10:41

The Central Board of Direct Taxes (CBDT) had allowed time till 31st March, 2018 to link PAN with Aadhaar while filing the Income Tax Returns. Upon consideration of the matter, the CBDT further extends the time for linking PAN with Aadhaar till 30th J

Posted in Income Tax | 1 comments | 2079 Views

Requirement to furnish country by country report under sec 286(4) of Income Tax Act

27 March 2018 at 12:34

The Government of India issues clarification regarding requirement for furnishing of Country-by Country Report under Section 286(4) of Income Tax Act, 1961.In keeping with India’s commitment to implement the Recommendations of the 2015 Final Re

Posted in Income Tax | 1 comments | 7071 Views

Questionnaire released for new Direct Tax law

22 March 2018 at 11:12

Stakeholder engagement by the Task Force drafting the new Direct Tax LawA Task Force has been constituted to review the Income-tax Act, 1961 and to draft a new Direct Tax Law in consonance with the economic needs of the country.In this endeavour of d

Posted in Income Tax | 10431 Views

Action taken by ICAI on PNB matter

10 March 2018 at 12:42

Immediately after the report of major fraud in Punjab National Bank coming out in the various Newspapers, the ICAI has taken suo moto cognizance of media reports and as a proactive step has sought assistance by writing to various investigating arms o

Posted in Income Tax | 3 comments | 5403 Views

87.79 crore banks accounts have been linked with Aadhaar

10 March 2018 at 12:38

As per the latest available information as on 05.03.2018, number of Aadhaar cards linked with PAN is 16,65,82,421 . Further, as on 02.03.2018, 8779.65 Lakhs Current Accounts and Savings Accounts have been linked with Aadhaar.There are number of secur

Posted in Income Tax | 2 comments | 2844 Views

Direct Tax collection show a growth of 19.5% till Feb 2018

09 March 2018 at 16:49

Direct Tax collections for F.Y. 2017-2018 show growth of 19.5% up to February, 2018The provisional figures of Direct Tax collections up to February, 2018 show that net collections are at Rs.7.44 lakh crore which is 19.5% higher than the net collectio

Posted in Income Tax | 2496 Views

GDP growth revised to 6.6% in 2017-18

01 March 2018 at 10:38

Finance Ministry: Robust growth in manufacturing and significant acceleration in construction mark a turnaround in the country’s economic growth momentum; Heralding an improvement in the investment climate, real gross fixed capital formation is

Posted in Income Tax | 2307 Views

New facilities for UAN Aadhar linking introduced By EPFO

28 February 2018 at 10:45

Employees' Provident Fund Organisation (EPFO) has introduced UAN-Aadhaar linking facility for the convenience of members using EPFO Link in UMANG Mobile App. This is in addition to the existing web facility already available at EPFO's we

Posted in Income Tax | 5403 Views

Revised Form 10A for Registration of Charitable Trust

27 February 2018 at 13:58

Central Board of Direct Taxes (CBDT) on 19th February 2018 vide Notification No. 10/2018 has revised the format of Form 10A - Application Form for Registration of Charitable and Religious Trust under section 12A of the Income Tax Act, 1961.In the Inc

Posted in Income Tax | 20169 Views