Income Tax News
CBDT issues refunds of Rs. 1,36,066 crores to 40.19 lakh taxpayers between 1st April 2020 to 17th November 2020
18 November 2020 at 17:41Income tax refunds of Rs. 35,750 crore have been issued in 38,23,304 cases &corporate tax refunds of Rs.1,00,316 crore have been issued in 1,95,518 cases
CBIC makes amendments in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seeds, Areca Nut, Gold and Silver
16 November 2020 at 10:36CBIC makes amendments in Tariff Notification No. 107/2020-Customs (N.T.) in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seeds, Areca Nut, Gold and Silver
Last date for filing applications under Sabka Vishwas (Legacy Dispute Resolution) Scheme extended to 31st December, 2020 Jammu & Kashmir and Ladakh
13 November 2020 at 10:48Last date for filing applications under Sabka Vishwas (Legacy Dispute Resolution) Scheme extended to 31st December, 2020 Jammu & Kashmir and Ladakh
CBIC makes amendments in Exchange Rate Notification No. 106/2020 - Customs (N.T.)
13 November 2020 at 10:48CBIC makes amendments in Exchange Rate Notification No. 106/2020 - Customs (N.T.)
Government to make amendments in the Income Tax Act to help home-buyers as well as developers
12 November 2020 at 16:23Government to make amendments in the Income Tax Act to help home-buyers as well as developers
CBIC Notifies Tax Deposit Amount for persons who have opted to furnish a return for every quarter
12 November 2020 at 12:50CBIC Notifies Tax Deposit Amount for persons who have opted to furnish a return for every quarter
CBIC makes amendments to the Central Goods and Services Tax Act, 2017 (12 of 2017)
12 November 2020 at 12:50CBIC makes amendments to the Central Goods and Services Tax Act, 2017 (12 of 2017)
ITR forms to now contain pre-filled details of certain incomes
12 November 2020 at 11:26In order to make tax compliance more convenient, pre-filled ITRs have been provided to individual taxpayers. The ITR form now contains pre-filled details of certain incomes such as salary income.
CBIC issues revised policy & guidelines for setting up of ICDs/CFSs/AFSs
09 November 2020 at 10:29CBIC has issued revised policy & guidelines for setting up of ICDs/CFSs/AFSs. New guidelines take into account the present capacity, future growth potential & regional imbalances; ensure uniformity, transparency & seamless approval process.
CBIC appoints Senior Nodal Officers in each Customs Zone to fast track Faceless Assessment
09 November 2020 at 10:26CBIC has appointed senior Nodal Officers in each Customs Zone to fast track Faceless Assessment. If required, importers may contact these Nodal Officers for faster clearance of their imports.
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