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Income Tax News


FM Summons Infosys CEO to explain why glitches on the New IT Portal have not been resolved

   22 August 2021 at 17:16

Ministry of Finance has summoned Sh Salil Parekh, MD &CEO, Infosys on 23/08/2021 to explain to hon'ble FM as to why even after 2.5 months since launch of new e-filing portal, glitches in the portal have not been resolved.

Posted in Income Tax  2 comments |   5841 Views


CBDT notifies new Rule 12AA

   20 August 2021 at 15:19

CBDT has released the Income-tax (24th Amendment) Rules, 2021 in order to amend the Income-tax Rules, 1962. Under the amended rules, a new Rule 12AA has been inserted after Rule 12A and a new Rule 51B has also been inserted after Rule 51A.

Posted in Income Tax |   7878 Views


Glitches in the New IT Portal expected to be solved in 2-3 weeks - FM

   18 August 2021 at 05:49

ANI, on 16th August 2021 tweeted from their official Twitter handle that FM Nirmala Sitharaman has committed to fixing all technical glitches on the New Income tax Portal in the next 2-3 weeks.

Posted in Income Tax  2 comments |   11964 Views


CBDT issues refunds to more than 22.61 lakh taxpayers between 1st April to 9th August, 2021

   14 August 2021 at 10:30

Income tax refunds of Rs. 14,241 crore have been issued in 21,38,375 cases & corporate tax refunds of Rs. 33,078 crore have been issued in 1,22,511 cases.

Posted in Income Tax |   1782 Views


Rs 99,756 crore disputed tax amount settled under Vivad Se Vishwas scheme

   10 August 2021 at 05:49

The scheme 'Vivad Se Vishwas' is a voluntary scheme for resolving pending direct tax disputes amicably with the taxpayers and no targets were fixed by the Government under the  Scheme.

Posted in Income Tax |   2184 Views


IT Department creates dedicated e-mail ids for registering grievances under the Faceless Scheme

   09 August 2021 at 05:54

In a move aimed to further improve taxpayer services in alignment with the Taxpayers’ Charter, the Income Tax Department creates dedicated e-mail ids for registering grievances in respect of pending cases under the Faceless Scheme.

Posted in Income Tax  1 comments |   6531 Views


CBDT issues refunds to more than 21.32 lakh taxpayers between 1st April to 2nd August, 2021

   08 August 2021 at 18:54

Income tax refunds of Rs. 13,694 crore have been issued in 20,12,802 cases & corporate tax refunds of Rs. 32,203 crore have been issued in 1,19,173 cases.

Posted in Income Tax |   1509 Views


Lok Sabha passes Bill to settle retrospective taxation - Taxation Laws (Amendment) Bill, 2021

   06 August 2021 at 18:08

This bill is likely to settle disputes with Cairn Energy Plc, Vodafone Group Plc, and 15 other companies over retrospective tax demands raised by the Union Government.

Posted in Income Tax |   11418 Views


CBDT further extends the due dates for electronic filing of certain forms

   03 August 2021 at 20:38

On consideration of difficulties reported by the taxpayers and other stakeholders in the electronic filing of certain Forms, CBDT has decided to further extend the due dates for electronic filing of such Forms vide Circular No.15/2021 dated 03.08.2021.

Posted in Income Tax  3 comments |   30504 Views


CBDT issues refunds of over Rs. 43,991 crore to more than 21.03 lakh taxpayers between 1st April, 2021 to 26th July, 2021

   30 July 2021 at 18:48

Income tax refunds of Rs. 13,341 crore have been issued in 19,89,912 cases & corporate tax refunds of Rs. 30,651 crore have been issued in 1,12,567 cases.

Posted in Income Tax |   1734 Views