Direct tax
Oct 25, 2020 00:57
The government had earlier in May extended various due dates for filing ITRs for FY 2019-20 from July 31 to November 30, to give compliance relief to taxpayers due to the Covid-19 pandemic. read more
Sep 09, 2020 18:05
This include personal income tax (PIT) refunds amounting to Rs 30,768 crore issued to 25.83 lakh taxpayers and corporate tax refunds amounting to Rs 70,540 crore issued to over 1.71 lakh taxpayers during this period. read more
Jul 19, 2020 00:02
The objective of the e-campaign is to facilitate taxpayers to validate their returns or financial transaction information available with the I-T department, online, and promote voluntary compliance so that they do not get into notice and scrutiny process. read more
Jul 18, 2020 17:04
In May, CBDT had notified the revised Form 26AS, containing details of tax collected or deducted at source which will now include information pertaining to property and share transactions. read more
Jul 14, 2020 20:55
This one-time relaxation is available to those taxpayers who could not get their tax returns validated from the assessment year 2015-16 to 2019-20, a finance ministry official said. read more
Apr 26, 2020 22:13
The suggestions were made in a report titled Fiscal Options & Response to Covid-19 Epidemic (FORCE) and released to the media on the IRS Association’s Twitter handle and website. read more
Mar 16, 2020 16:51
The Central Board of Direct Taxes (CBDT), that frames policy for the I-T department, had extended the deadline for this task for the eighth time on December 30 last year. read more
Feb 06, 2020 02:22
The bill, named The Direct Tax Vivad Se Vishwas Bill, 2020, which was introduced in the Lok Sabha, aims for resolution of tax disputes and related matters. read more
Dec 17, 2019 16:21
Taxmen have been told that the corporate tax relief worth Rs 1.45 lakh crore should not be taken as an excuse for lesser direct tax collection target. read more
Oct 31, 2019 22:05
The CBDT order also said the ITRs filed by individual taxpayers, post the set deadline of August 31, will also be considered valid as part of the latest order. read more
Oct 18, 2019 21:54
The top body of the income tax department said no bank or provider of a digital payment system shall “impose any charge on a payer making payment, or a beneficiary receiving payment” through electronic modes. read more
Oct 02, 2019 15:49
The document identification numbers system of the Central Board of Direct Taxes (CBDT) has already started working and it generated about 17,500 communications with DIN on Tuesday. read more
Aug 30, 2019 14:06
The total income during the assessment year 2019-20, however, should not be more than Rs 50 lakh. read more
Aug 28, 2019 12:26
AIFs are privately pooled investment funds of Indian or foreign sources and can operate in the form of a trust or a company or a body corporate or a limited liability partnership (LLP). read more
Jul 16, 2019 20:04
CBDT further clarified that the updating of utility do not hamper filing of return as the taxpayers are allowed to file using the utility which is available at that point of time. For example, more than 85 lakh taxpayers have filed returns in ITR-1 till... read more
