Income Tax News

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 | 14220 Views

Over 3.43 crore Income Tax Returns have already been filed for AY 20-21

18 December 2020 at 12:03

The 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!

Posted in Income Tax | 2883 Views

Vivad se Vishwas: Opt for the scheme till December 31st, 2020

18 December 2020 at 11:26

The 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.

Posted in Income Tax | 2382 Views

CBIC announces the Revised Exchange Rates w.e.f 18th December 2020

18 December 2020 at 10:12

The 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.

Posted in Income Tax | 2445 Views

Income Tax Department conducts searches in a group case from Erode in Tamil Nadu

18 December 2020 at 10:12

Overall, 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.

Posted in Income Tax | 1302 Views

Request for extension in due date for filing IT Returns and Audit Reports - Lucknow CA Tax Practitioners Association

17 December 2020 at 17:51

Request 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

Posted in Income Tax | 15951 Views

BCAS gives representation on several hardships caused to the taxpayers

18 December 2020 at 10:19

The Bombay Chartered Accountants' Society has made a representation to the CPC on several hardships caused to the taxpayers and their suggestions for the same.

Posted in Income Tax | 2424 Views

Income Tax Department conducts searches in Chandigarh

17 December 2020 at 10:07

The 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.

Posted in Income Tax | 1578 Views

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 10:07

Income 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

Posted in Income Tax | 1110 Views