Tag: CBDT
17 Results
-
Income Tax department issued over Rs 1.06 lakh crore refund between April 1-Sep 15
This includes personal income tax (PIT) refunds amounting to Rs 31,741 crore.
September 17, 2020 -
I-T authorities can share info with scheduled commercial banks: CBDT
Section 138 of the Income Tax Act empowers income tax authorities to share information/ details of its taxpayers with other agencies.
September 1, 2020 -
CBDT meets officials to dispel doubts on faceless tax collection
Finance Ministry sources said that the demand management strategy to be adopted by the Income Tax Department was also discussed in the meeting.
August 19, 2020 -
97 percent of Income Tax work force feeling left out
The JCA has pointed out that the restructuring exercise if not implemented in a thoughtful manner may result in massive displacement of manpower.
August 17, 2020 -
Faceless assessment to start with I-T Dept restructuring
In 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, 2020 -
PM Modi launches platform to empower honest taxpayers; faceless assessment, taxpayers’ charter from today
In 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, 2020 -
New Form 26AS to have details of high-value financial transactions: CBDT
Form 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, 2020 -
Covid-19 relief for taxpayers: Govt extends time limit of tax compliances
The 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, 2020 -
FinMin exempts B2B firms from using only BHIM, RuPay for accepting payments
To encourage digital transactions and move towards a less-cash economy, the government inserted a new provision, Section 269SU
May 20, 2020 -
Lockdown period not to be counted for determining residency status of NRIs, foreign nationals: CBDT
As 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, 2020 -
CBDT charge sheets 3 IRS officers involved in controversial tax report ‘FORCE’
The 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 -
Revised ITR forms for FY 2019-20 to be notified till month-end: CBDT
The return filing utility after incorporating necessary changes shall be made available by 31st May 2020 to avail benefits for FY 2019-20, CBDT said.
April 19, 2020 -
‘Committed to helping India’s small businesses’: PM Modi lauds I-T dept for tax reliefs
In a press release, the CBDT said, as a relief to MSMEs, income tax refunds worth Rs 5,204 crore have been issued by the central board in the last 10 days to nearly 8.2 lakh small businesses.
April 18, 2020 -
PAN-Aadhar linking ‘mandatory’ before Mar 31 deadline: IT Dept
It is mandatory to link your PAN and Aadhaar before 31st March, 2020
March 16, 2020 -
PAN to become inoperative if not linked with Aadhaar by March 31: I-T dept
The Supreme Court had in September 2018 declared Aadhaar as constitutionally valid and held that the biometric ID would remain mandatory for the filing of income tax returns and allotment of PAN cards.
February 15, 2020 -
Mutual Funds to deduct TDS at 10 per cent only on dividend income: CBDT
Finance Minister Nirmala Sitharaman in the Union Budget for 2020-21 has introduced a 10 per cent TDS provision
February 5, 2020 -
India gets first tranche of citizens’ Swiss Bank info under AEOI agreement with Switzerland
The automatic exchange of information with India is being implemented based on the Multilateral Competent Authority Agreement on the Automatic Exchange of Financial Account Information (MCAA).
October 8, 2019