Income Tax News
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.
Income Tax Department conducts searches in Chandigarh
17 December 2020 at 10:07The Income Tax Department carried out search and seizure operations on 13.12.2020 in the case of a Chandigarh based listed pharmaceutical company and its associated concerns.
CBDT issues refunds of over Rs. 1,48,274 crores to more than 1.02 crore taxpayers between 1st April 2020 and 14th December 2020
17 December 2020 at 10:07Income tax refunds of Rs. 45,264crore have been issued in 1,00,02,982 cases & corporate tax refunds of Rs. 1,03,010 crore have been issued in 2,00,854 cases
IT Department rolls out a dedicated Email ID to register feedback on the Faceless Assessment Scheme
17 December 2020 at 10:07Taxpayers may furnish their feedback/ grievance on the said email id, which will be closely monitored by a team of officials at the National e-Assessment Centre.
Instructions to the ITR Forms (ITR 1 to ITR 7) for A.Y. 2020-21
17 December 2020 at 10:07Instructions to the Income Tax Return Forms (ITR 1 to ITR 7) for A.Y. 2020-21 released by the Central Board of Direct taxes.
CBIC waives the recording of UIN on the invoices, for the months of April 2020 to March 2021
16 December 2020 at 13:03The Central Board of Indirect Taxes has waived the recording of UIN on the invoices, for the months of April 2020 to March 2021.
CBDT informs regarding income-tax assessees for identifying the eligible beneficiaries for transfer of financial assistance through Direct Benefit Transfer Scheme
16 December 2020 at 10:27The Central Board of Direct Taxes informs regarding income-tax assessees for identifying the eligible beneficiaries for transfer of financial assistance through the Direct Benefit Transfer Scheme.
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