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Tag: Central Board Of Direct Taxes

Govt notifies simplified 'Sahaj' ITR form

New Delhi: The government on Thursday notified one-page simplified Income-tax Return Form-1 called “Sahaj” for Assessment Year (AY) 2018-19 that can be used by salaried employees having income up to Rs 50 lakh. The Central Board of Direct Taxes (CBDT) had notified the Sahaj form for AY 2017-18 as well which benefited around three crore […]

  • Wednesday, 07 July 2021
Direct Tax collections rise 14% to Rs 4.8 lakh cr during April-November

New Delhi: The government on Saturday reported a growth of 14.4 per cent in direct tax collections for April-November, 2017-18. “Provisional figures of direct tax collections up to November 2017 show that net collections are at Rs 4.8 lakh crore which is 14.4 per cent higher than the net collections for corresponding period of last […]

  • Tuesday, 06 July 2021
CBDT launches online chat to answer taxpayers' queries

New Delhi: The Central Board of Direct Taxes (CBDT) has launched an online chat service for income taxpayers to enable them to seek answers to their queries relating to direct tax issues. The Income Tax Department’s website now hosts a “Live Chat” window which takes questions on tax matters from Monday to Friday between 10 […]

  • Tuesday, 06 July 2021
Foreign Account Tax Compliance Act
Accounts sans FATCA certification to be blocked from Monday

New Delhi: Accounts of those individuals and entities who have not provided self-certification by April 30 will be blocked by the Indian government from Monday, it has been announced. This would be done in order to comply with the provisions of the Foreign Account Tax Compliance Act (FATCA). “The account holders may be informed that, […]

  • Monday, 05 July 2021
Central Board of Direct Taxes
CBDT allots PAN and TAN in a day for ease of doing business

New Delhi: In another move to improve ease of doing business in India, the Income Tax Department has tied up with the Corporate Affairs Ministry (MCA) to issue Permanent Account Numbers (PAN) and Tax Deduction Account Numbers (TAN) within a day, an official said on Tuesday. “The Central Board of Direct Taxes has tied up […]

  • Monday, 05 July 2021
Govt extends ITR filing deadline to August 5

New Delhi: In a last minute decision, the government today extended the deadline for filing Income Tax Returns (ITRs) till August 5, a top official said today. The official twitter handle of the department said the move was made “in view of difficulties faced by taxpayers.” A senior official of the department said the decision […]

  • Monday, 28 June 2021
Central Board of Direct Taxes
CBDT committee to review 'naming, shaming' of tax defaulters

New Delhi: The CBDT is mulling expanding the scope of its policy of “naming and shaming” of tax defaulters by sharing such data with banks and credit-rating agencies. The Board, which decides policy matters for the Income Tax Department, has ordered creation of a special committee to analyse the subject and review the existing mechanism […]

  • Monday, 28 June 2021
Nira Radia
No tax evasion angle to probe in Radia tapes: I-T to SC

The Income Tax department, on directions of the Supreme Court in connection with the 2G spectrum allocation case, has found no instance of tax evasion after going through the entire range of intercepted conversations of corporate lobbyist Niira Radia

  • Monday, 21 June 2021
MHA order on data in computers
Every Computer Is Now Under Government Watch; MHA Issues Notice

New Delhi: The Ministry of Home Affairs has released an order authorising security and intelligence agencies for purposes of interception, monitoring and decryption of any information generated, transmitted, received or stored in any computer resource under the Information Technology Act. “Not just calls or emails, but any data found on a computer can be intercepted. […]

  • Friday, 04 June 2021
PAN-Aadhaar linking: ‘Neglect’ may land you in trouble

Even though the last date for the linking of Aadhaar and PAN card has been extended by sixth time till September 30, 2019, you may not get relief. The Central Board of Direct Taxes (CBDT) has said taxpayers would have to mandatorily quote and link Aadhaar number while filing the return of income. It is […]

  • Sunday, 02 May 2021
CBDT refutes reports of decline in e-filing of ITR

New Delhi: The Central Board of Direct Taxes (CBDT) on Monday refuted reports that e-filing of income tax returns (ITRs) had dropped in FY19, claiming that ITR e-filing figures of financial year 2018-19 were “not comparable” to those of 2017-18. “This is factually untrue, because the figures for FY 2017-18 and FY 2018-19 are not […]

  • Saturday, 01 May 2021
Income Tax Return (ITR): Big announcement by CBDT

Bhubaneswar: The Central Board of Direct Taxes (CBDT) today clarified that no changes have been made in the Income Tax Return (ITR) forms including ITR-2 and ITR-3. In a release, CBDT stated that no changes have been made since the notification was made on April 1, 2019, the first day of the assessment year 2019-20. […]

  • Wednesday, 28 April 2021
Breaking! Deadline to file Income Tax Returns extended; Here's latest updates

Bhubaneswar: The Central Board of Direct Taxes (CBDT) today extended the ‘due date’ for filing of Income Tax Returns (ITR). As per the latest announcement, the deadline of filing ITR has been extended from July 31, 2019 to August 31, 2019 in respect of certain categories of taxpayers who were liable to file their Returns […]

  • Wednesday, 28 April 2021
No MAT Credit For Companies Opting For Lower Corporate Tax: CBDT

New Delhi: Clarifying on the shift from current to the new corporate tax regime, the tax department on Wednesday said that companies opting to pay for lower tax rate of 22 per cent would not be allowed to avail Minimum Alternate Tax (MAT) credit. These companies would also not be able to carry forward the […]

  • Sunday, 25 April 2021
Relief For Taxpayers: No TDS On Interest Income Till June 30

New Delhi: The Central Board of Direct Taxes (CBDT) has extended the validity of forms 15G and 15H by three months to June 30, 2020 and prevent banks from deducting TDS on interest income of individuals. No TDS on interest income is another relief for taxpayers. As per an order issued by the CBDT late […]

  • Sunday, 18 April 2021
IT Return Forms: CBDT Notifies Modified Forms For FY 19-20

New Delhi: The Central Board of Direct Taxes (CBDT) has notified new Income Tax Return Forms for the Assessment Year 2020-21 or the financial year 2019-20. The modifications come in the backdrop of the coronavirus pandemic. In a notification, the Finance Ministry said it issued ITR-1 (Sahaj), ITR-2, ITR-3, ITR-4 (Sugam), ITR-5, ITR-6, ITR-7 and […]

  • Friday, 16 April 2021
Pay Penalty If Not Already Filed I-T Returns, No More Extensions Now

New Delhi: The Central Board of Direct Taxes dashed hopes of all taxpayers waiting for further extension of due dates for filing tax returns rejecting all representation in this regard, citing that the process cannot be delayed ‘indefinitely’ and hamper the functioning of the tax department and welfare programmes of the government. The decision means […]

  • Wednesday, 07 April 2021
CBDT Notifies New Income Tax Return Forms For 2021-22; Check Details

Bhubaneswar: The Central Board of Direct Taxes (CBDT) has notified Income Tax Return Forms (ITR Forms) for the Assessment Year 2021-22 (FY 2020-21). To facilitate taxpayers and minimize the compliance burden, no significant changes have been made in the ITR Forms this year as compared to last year’s Forms. Only the bare minimum changes necessitated […]

  • Friday, 02 April 2021

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