The CBDT has decided that relief will only be applicable to taxpayers who were eligible to file application for settlement on January 31, 2021 for the assessment years for which the application is sought to be filed (relevant assessment years)
September 7, 2021It has now been decided to extend the aforesaid date to August 15 from the earlier deadline of July 15.
July 21, 2021The corrective measures are being taken based on feedback from taxpayers, tax professionals, and representatives of ICAI to provide taxpayers with a smooth e-filing experience.
July 12, 2021The Finance Act, 2021 inserted a new Section 194Q in the Income-Tax Act, 1961, which took effect from July 1, 202I.
July 2, 2021The functionality allows the tax deductor or collector to feed the single PAN (PAN search) or multiple PANs (bulk search) of the deductee/coIIectee, which can get a response if such deductee/collectee is a specified person.
June 23, 2021A lot of measures have been taken to ease compliance burden and provide better taxpayer services, Mody said, adding that this got reflected in the tax collection for last fiscal.
April 9, 2021This includes personal income tax (PIT) refunds amounting to Rs 31,741 crore.
September 17, 2020Section 138 of the Income Tax Act empowers income tax authorities to share information/ details of its taxpayers with other agencies.
September 1, 2020Finance Ministry sources said that the demand management strategy to be adopted by the Income Tax Department was also discussed in the meeting.
August 19, 2020The JCA has pointed out that the restructuring exercise if not implemented in a thoughtful manner may result in massive displacement of manpower.
August 17, 2020In order to implement the scheme, the Board has diverted the existing manpower at all levels of the department to the Faceless Assessment charges.
August 15, 2020In a tweet earlier in the day, PM Modi said the initiative will strengthen the Government's efforts of reforming and simplifying the tax system and will benefit several honest taxpayers, whose hard work powers national progress.
August 13, 2020Form 26AS is an annual consolidated tax statement that can be accessed from the income-tax website by taxpayers using their Permanent Account Number (PAN).
July 18, 2020The date for commencement of operation for the SEZ units for claiming deduction under deduction 10AA of the IT Act has also been further extended to September, 30, 2020 for the units which received necessary approval by 31st March, 2020.
June 24, 2020To encourage digital transactions and move towards a less-cash economy, the government inserted a new provision, Section 269SU
May 20, 2020As per I-T laws, for 2019-20 fiscal, individuals staying in India for 182 days or more in a fiscal or 60 days or more in a fiscal and at least 365 days in the past 4 fiscals will be considered as resident of India for taxation purpose.
May 9, 2020The Finance Ministry on Sunday had slammed the report released under the aegis of the Indian Revenue Service Association (IRSA), terming it ill-conceived and ordered an inquiry.
April 28, 2020