Income Tax News

7,63,832 ITRs for AY 2020-21 have been filed on 25th December up to 9 PM

26 December 2020 at 10:22

The Income Tax Department, via their official Twitter Handle has released the daily statistics of Income Tax Returns Filed. The due date for filing Income Tax Return for AY 19-20 is 31st December 2020.

Posted in Income Tax | 2418 Views

CBDT issues refunds of over Rs. 1,50,863 crore to more than 1.18 crore taxpayers between 1st April 2020 to 20th December 2020

23 December 2020 at 19:33

Income tax refunds of Rs. 47,608 crore have been issued in 1,16,07,299 cases & corporate tax refunds of Rs. 1,03,255 crore have been issued in 2,01,796 cases.

Posted in Income Tax | 1407 Views

3.75 crore Income Tax Returns for AY 2020-21 filed till 21st Dec 2020

22 December 2020 at 13:28

The Central Board of Direct Taxes has notified that the total Income Tax Returns filed till 21st December 2020 for AY 2020-21, is 3.75 crores. Read the ITR-Wise break-up of the figure here.

Posted in Income Tax | 2733 Views

QRMP Scheme - Escalating Growth of Taxpayers by Limiting Tax Compliance Burden

22 December 2020 at 10:27

Know how the Quarterly Return Monthly Payment Scheme will escalate the growth of taxpayers by limiting the tax compliance burden, here.

Posted in Income Tax | 4869 Views

Income Tax Department cautions taxpayers on a fake link that promises to give a refund

21 December 2020 at 18:05

The Income Tax Department, via their official Twitter handle, cautioned the taxpayers of a fake link that has been circulating and is promising to give a refund.

Posted in Income Tax | 2583 Views

Income Tax Department releases E-Brochure on Vivad se Vishwas Scheme

21 December 2020 at 18:05

The Income Tax Department has released an E-Brochure on the Vivad se Vishwas Scheme, asking taxpayers to settle their income tax disputes by filing a declaration by 31.12.20.

Posted in Income Tax | 3936 Views

Income Tax Department introduces "Jhatpat Processing" for ITR 1 and 4

21 December 2020 at 18:05

The 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!

Posted in Income Tax | 4371 Views

3.69 crore Income Tax Returns for AY 2020-21 filed till 20th Dec 2020

21 December 2020 at 14:29

The 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.

Posted in Income Tax | 2112 Views

Mandatory validation of UDIN in all Income Tax Forms

21 December 2020 at 11:00

CBDT 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.

Posted in Income Tax | 14817 Views

CBDT releases Checklist to Avoid Mistakes in Filing ITR 7 for AY 2020-21

18 December 2020 at 13:33

The 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...

Posted in Income Tax | 14217 Views