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Relief for Cyclone Fani victims: Due dates for TDS compliance extended
Sat, May 25, 2019
Several steps have been taken to lighten the burden on the victims of Fani
ITR filing: CBDT amends Form 15H of Income-tax Rules 1962; senior citizens to benefit
Sat, May 25, 2019
The Central Board of Direct Taxes (CBDT) has recently revised the norms related to Form 15 H, which is applicable to persons aged above 60 years. The new rule will consider the provision of Section 87A, according to CBDT notification.
Income Tax Dept proposes to seek more details on foreign donations from trusts
Tue, May 21, 2019
The Central Board of Direct Taxes (CBDT) has issued a draft notification to amend Form 10B of the Income-tax Rules, 1962 by proposing changes in the audit report form to be filled by trusts and institutions.
Fall in ITRs in FY19 due to inclusion of past AY's return filings: Income Tax dept
Mon, May 06, 2019
The CBDT in its statement on Monday said the 6.74 crore income tax returns filed in the 2017-18 fiscal included 5.47 crore income tax returns (ITRs) for Assessment Year (AY) 2017-18.
I-T department proposes new norms for taxing MNCs in India
Fri, Apr 19, 2019
The income tax department on April 18 proposed change in the methodology for taxing multinational companies, including digital firms, having permanent establishment in India by giving weightage to factors like domestic sales, employee strength, assets and user base.
Income Tax Department raids in 4 states
Tue, Apr 09, 2019
Income Tax Department officials on Tuesday raided in four states of the country. Watch this video to know more.
CBDT issues new Income Tax Return forms, here are the details
Sun, Apr 07, 2019
As per the data available with CBDT, 6.87 crore Income Tax Returns (ITRs) were filed during FY 2017-18 as compared to 5.48 crore ITRs filed during FY 2016-17, translating into a growth of 25 pre cent.
CBDT notifies income tax return forms for FY18-19
Fri, Apr 05, 2019
New income tax return forms for AY 2019-20 have been notified. The return forms ask for more information from the tax payers as compared to previous year. Watch this video to know more.
Vested interests behind 'harassment of taxpayers' charge: CBDT
Tue, Jan 22, 2019
CBDT on Monday clarified that there had been no mass harassment by the Income Tax Department as it had filed only 1,400 prosecutions during the current fiscal for various offences under the Income Tax Act.
Income tax return: Big changes coming, will tax rates be cut?
Tue, Dec 04, 2018
The NDA government would be presenting its interim Budget for 2018-19 on February 1. The full 2018-19 Budget would be presented after the general elections due sometime in the mid of 2019.
Income Tax Returns filing: PAN form changed by I-T Dept; Don't do this anymore
Wed, Nov 21, 2018
An identification number assigned to income tax assessees in the country, PAN is required for financial transactions like opening of a bank account and filing of income tax returns (ITR). The amended rules will provide that furnishing of father's name will not be mandatory for a person whose mother is a single parent a CBDT notification stated.
Reward for income tax payers? See what CBDT chairman said
Thu, Nov 15, 2018
The CBDT, that frames policies for the Income Tax (I-T) Department, is "examining" a report that proposes to facilitate honest and consistent taxpayers in availing a variety of public services and tax-related works on priority, a top official said Wednesday.
Income tax filers list: 75 L new tax filers added to IT net this fiscal
Sun, Nov 04, 2018
About 75 lakh new tax filers have been added to the income tax payers list in the country this fiscal till now, a senior official said.
Net direct tax collection grows 15.7% to Rs 4.89-lakh cr: CBDT
Mon, Oct 22, 2018
The net direct tax collection in the country grew by 15.7 per cent on year-on-year basis to reach Rs 4.89 lakh crore in the current fiscal till third week of October, a senior official on Monday quoting from the latest data.
Income Tax Return (ITR) filing deadline extended; Good news? Taxpayers missing this big point
Wed, Sep 26, 2018
The CBDT extended the deadline for filing Income Tax Return (ITR) and audit report for the financial year 2017-18.
Crackdown against shell firms: This is what CBDT wants Income Tax dept to do
Sun, Jul 29, 2018
The CBDT has directed the Income Tax Department to ensure filing all its petitions before the NCLT by next month to recover due taxes worth crores of rupees from a number of de-registered shell or dummy companies
ITR filing last date: Income tax returns filing deadline extended by Modi govt
Thu, Jul 26, 2018
ITR filing last date: CBDT has extended Income tax returns (ITR) filing deadline. The due date for filing tax returns for assessment year 2018-19 for taxpayers has been extended by one month till August 31, 2018 from the earlier July 31, 2018.
Be Aware! Real Estate, Firms careful in dealing with cash ahead; CBDT warns with new rules
Sun, Jun 24, 2018
The Narendra Modi government has been pushing digital payments for quite some time now, especially since the time of demonetisation announcement.
Scindia House fire: Nirav Modi/Mehul Choksi case records safe, govt clarifies
Mon, Jun 04, 2018
Nirav Modi/Mehul Choksi case: The government today clarified that documents relating to the Nirav Modi/Mehul Choksi case were completely safe.
Income Tax dept tells TDS deductors not to violate deadline, threatens to slap Rs 200 p.d. penalty
Sat, May 19, 2018
TDS deductors have been cautioned today to adhere to the stipulated deadline of May 31 to file their statements. Income Tax Department (ITD) threatened to slap a penalty of Rs 200 on them for each day of default if they failed to meet the deadline. The Central Board of Direct Taxes (CBDT), which frames policy for the I-T department, issued an advertisement in this context