Income Tax News
Income Tax Department introduces "Jhatpat Processing" for ITR 1 and 4
21 December 2020 at 18:05The Income Tax Department has introduced "Jhatpat Processing" for easy filing and processing of ITRs. The process has started for ITR 1 and 4. Click the link below to file your return now!
3.69 crore Income Tax Returns for AY 2020-21 filed till 20th Dec 2020
21 December 2020 at 14:29The Central Board of Direct Taxes has notified that the total Income Tax Returns filed till 20th December 2020 for AY 2020-21, is 3.69 crores. Read the ITR-Wise break-up of the figure here.
Mandatory validation of UDIN in all Income Tax Forms
21 December 2020 at 11:00CBDT has given a one-time relaxation by allowing them to update UDINs for forms latest by 31st December 2020 for treating these forms as valid.
CBDT releases Checklist to Avoid Mistakes in Filing ITR 7 for AY 2020-21
18 December 2020 at 13:33The Central Board of Direct Taxes has released a checklist to avoid mistakes in filing the Income Tax Return - 7 for AY 2020-21. Read the entire checklist here...
Over 3.43 crore Income Tax Returns have already been filed for AY 20-21
18 December 2020 at 12:03The Central Board of Direct Taxes has notified that the total Income Tax Returns filed for AY 2020-21, is 3.43 crores. Do you also wish to avoid the last minute rush? Then file your Income Tax Return now!
Vivad se Vishwas: Opt for the scheme till December 31st, 2020
18 December 2020 at 11:26The Income Department is attending all the VsVS related matters with utmost priority and it is requested that the taxpayers come forward and avail the scheme.
CBIC announces the Revised Exchange Rates w.e.f 18th December 2020
18 December 2020 at 10:12The Central Board of Indirect Taxes and Customs has announced the Revised Exchange Rates relating to the import and export of goods w.e.f 18th December 2020.
Income Tax Department conducts searches in a group case from Erode in Tamil Nadu
18 December 2020 at 10:12Overall, there is a detection of Rs. 700 crores of unaccounted income and a seizure of Rs. 21 crores of unaccounted cash as a result of this search.
Request for extension in due date for filing IT Returns and Audit Reports - Lucknow CA Tax Practitioners Association
17 December 2020 at 17:51Request for extension of Due date for filing Income Tax Return of AY 2019-20 & AY 2020-21 and for filing of Audit Report under various provisions of the Income Tax Act, 1961 for Assessment Year 2020-21
BCAS gives representation on several hardships caused to the taxpayers
18 December 2020 at 10:19The Bombay Chartered Accountants' Society has made a representation to the CPC on several hardships caused to the taxpayers and their suggestions for the same.
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