While witnessing the 161st Income Tax Day on 24th July 2021, Finance Minister Nirmala Sitharaman felicitated the Income Tax Department and said that "principles of equity, justice and fairplay in tax administration permeate our tax policy even today."
The 161st anniversary of Income Tax Day was observed by the Central Board of Direct Taxes and all its field offices across India on 24th July 2021. As part of the observance, the field formations held a range of activities.
On Thursday, 22nd July 2021, around 100 officials from the Income Tax Department conducted a raid at over 30 locations of the Media Group Dainik Bhaskar's offices in Madhya Pradesh, Maharashtra, Delhi, Rajasthan and Gujarat.
Certain allegations have appeared in some sections of media that IT Dept officials were suggesting changes in stories & taking editorial decisions during their search on offices of Media Group Dainik Bhaskar.
Taxpayers can now submit Forms 15CA/15CB in manual format to the authorized dealers till 15th August 2021. Authorized dealers are advised to accept such Forms till 15th August 2021 for the purpose of foreign remittances.
The Government has decided to provide income tax exemption to the amount received by a taxpayer for medical treatment from an employer or from any person for treatment of COVID-19 during the financial year 2019-20 and subsequent years.
The District Taxation Bar Association (Direct Taxes), Ludhiana has written a Memorandum to FM Nirmala Sitharaman wherein, they have highlighted 22 problems that are being faced by them and the taxpayers at large, on the New Income Tax Portal.
Income tax refunds of Rs. 11,731 crore have been issued in 18,52,540 cases & corporate tax refunds of Rs. 27,220 crore have been issued in 1,06,433 cases.
"Pursuant to decisions in that meeting, our members from ICAI are continuously working with Ministry of Finance officials and Infosys group in configuring glitch-free functionalities of new efiling portal" - ICAI.
Income tax refunds of Rs. 10,408 crore have been issued in 16,89,063 cases & corporate tax refunds of Rs. 26,642 crore have been issued in 1,03,088 cases.
Landmark Judgments: Important Provisions of the EPF & ESI Act interpreted by the Honorable Supreme Court of India
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