Income Tax News

IT Department rolls out a new Annual Information Statement (AIS) on the Compliance Portal

02 November 2021 at 08:35

The new AIS can be accessed by clicking on the link "Annual Information Statement (AIS)" on the new Income tax Portal. The display of Form 26AS on TRACES portal will also continue in parallel till the new AIS is validated and completely operational.

Posted in Income Tax | 15048 Views

More than 2.25 crore ITRs for AY 2021-22 filed on Income Tax e-filing portal till 28th Oct 2021

30 October 2021 at 12:17

Over 55% of these ITRs have been prepared using the online form available & filed on the new portal. More than 1.95 crore ITRs for AY 2021-22 have been e-verified till 28th October 2021. Out of this, 86% were verified using Aadhaar OTP.

Posted in Income Tax | 1 comments | 1590 Views

CBDT issues refunds to more than 77.92 lakh taxpayers from 1st April to 25th October 2021

27 October 2021 at 14:03

Income tax refunds of Rs. 27,965 crore have been issued in 76,21,956 cases & corporate tax refunds of Rs. 74,987 crore have been issued in 1,70,424 cases. This includes 46.09 lakh refunds of AY 2021-22.

Posted in Income Tax | 1278 Views

CBDT issues refunds to more than 63.23 lakh taxpayers from 1st April to 18th October 2021

22 October 2021 at 08:33

CBDT issues refunds of over Rs. 92,961 crore to more than 63.23 lakh taxpayers from 1st April, 2021 to 18th October, 2021.

Posted in Income Tax | 1 comments | 1470 Views

Over 2 crore ITRs filed on the New IT Portal amid Reporting of Technical Glitches

15 October 2021 at 09:16

More than 2 crore ITRs for AY 2021-22 have been filed on the portal, of which ITRs 1 & 4 constitute 86%. It is encouraging to note that more than 1.70 crore returns have been e-verified, out of which 1.49 crore are through Aadhaar based OTP.

Posted in Income Tax | 1977 Views

CBDT issues refunds to more than 59.51 lakh taxpayers from 1st April to 11th October 2021

14 October 2021 at 06:09

Income tax refunds of Rs. 22,214 crore have been issued in 57,83,032 cases & corporate tax refunds of Rs. 62,567 crore have been issued in 1,67,718 cases. This includes 29.23 lakh refunds of AY 2021-22 amounting to Rs. 2241.39 crore.

Posted in Income Tax | 1488 Views

CBDT issues refunds to more than 53.54 lakh taxpayers from 1st April to 4th October, 2021

06 October 2021 at 20:10

Income tax refunds of Rs. 20,510 crore have been issued in 51,88,762 cases &corporate tax refunds of Rs. 61,719 crore have been issued in 1,65,397 cases. This includes 24.73 lakh refunds of AY 2021-22 amounting to Rs. 1903.05 crore.

Posted in Income Tax | 1 comments | 1527 Views

Government takes note of the data trove in the Pandora Papers leak

05 October 2021 at 05:48

On 3rd October 2021, the International Consortium of International Journalists (ICIJ) has come out with what is claimed to be a 2.94 terabyte data trove that exposes the offshore secrets of wealthy elites from more than 200 countries and territories.

Posted in Income Tax | 1581 Views

CBDT notifies Rules for implementing the amendments made by the Taxation Laws(Amendment) Act, 2021

02 October 2021 at 15:41

No tax demand shall be raised in future on the basis of the amendment to section 9 of the Income-tax Act made vide Finance Act, 2012 for any offshore indirect transfer of Indian assets if the transaction was undertaken before 28th May 2012.

Posted in Income Tax | 1 comments | 5691 Views

CBDT issues order u/s 119(2)(b) for filing applications for settlement before Interim Board for Settlement by 30th September 2021

29 September 2021 at 06:01

CBDT has authorized the Commissioner of Income Tax to admit an application for settlement on behalf of the Interim Board filed after 31.01.2021 and before 30.09.2021 and treat such applications as valid and process them as "pending applications".

Posted in Income Tax | 6072 Views