Income Tax News

Date of payment under the Direct Tax Vivad se Vishwas Act, 2020 extended to 30th September 2021

29 August 2021 at 16:29

Considering the difficulties being faced in issuing and amending Form no 3, it has been decided to extend the last date of payment of the amount (without any additional amount) to 30th September 2021.

Posted in Income Tax | 4494 Views

Draft notification for framing of rules for the amendments made by the Taxation Laws (Amendment) Act, 2021

29 August 2021 at 07:30

The amendment made by the 2021 Act also provides that the demand raised for offshore indirect transfer of Indian assets made before 28th May 2012 shall be nullified on fulfilment of specified conditions.

Posted in Income Tax | 4206 Views

FM Nirmala Sitharaman sets 15th September as deadline for Infosys to resolve issues in the new IT Portal

23 August 2021 at 21:08

The Finance Minister demanded that the issues faced by taxpayers on current functionalities of the portal should be resolved by the team by 15th September, 2021 so that taxpayers and professionals can work seamlessly on the portal.

Posted in Income Tax | 6 comments | 9795 Views

New IT Portal now live after emergency maintenance activity by Infosys

23 August 2021 at 06:31

In a tweet, at around 9 pm on 22nd August 2021, the Infosys team revealed that the maintenance activity has now been completed and the portal is up and running again.

Posted in Income Tax | 7 comments | 10716 Views

FM Summons Infosys CEO to explain why glitches on the New IT Portal have not been resolved

22 August 2021 at 17:16

Ministry of Finance has summoned Sh Salil Parekh, MD &CEO, Infosys on 23/08/2021 to explain to hon'ble FM as to why even after 2.5 months since launch of new e-filing portal, glitches in the portal have not been resolved.

Posted in Income Tax | 2 comments | 5895 Views

CBDT notifies new Rule 12AA

20 August 2021 at 15:19

CBDT has released the Income-tax (24th Amendment) Rules, 2021 in order to amend the Income-tax Rules, 1962. Under the amended rules, a new Rule 12AA has been inserted after Rule 12A and a new Rule 51B has also been inserted after Rule 51A.

Posted in Income Tax | 7932 Views

Glitches in the New IT Portal expected to be solved in 2-3 weeks - FM

18 August 2021 at 05:49

ANI, on 16th August 2021 tweeted from their official Twitter handle that FM Nirmala Sitharaman has committed to fixing all technical glitches on the New Income tax Portal in the next 2-3 weeks.

Posted in Income Tax | 2 comments | 11979 Views

CBDT issues refunds to more than 22.61 lakh taxpayers between 1st April to 9th August, 2021

14 August 2021 at 10:30

Income tax refunds of Rs. 14,241 crore have been issued in 21,38,375 cases & corporate tax refunds of Rs. 33,078 crore have been issued in 1,22,511 cases.

Posted in Income Tax | 1809 Views

Rs 99,756 crore disputed tax amount settled under Vivad Se Vishwas scheme

10 August 2021 at 05:49

The scheme 'Vivad Se Vishwas' is a voluntary scheme for resolving pending direct tax disputes amicably with the taxpayers and no targets were fixed by the Government under the Scheme.

Posted in Income Tax | 2220 Views

IT Department creates dedicated e-mail ids for registering grievances under the Faceless Scheme

09 August 2021 at 05:54

In a move aimed to further improve taxpayer services in alignment with the Taxpayers’ Charter, the Income Tax Department creates dedicated e-mail ids for registering grievances in respect of pending cases under the Faceless Scheme.

Posted in Income Tax | 1 comments | 6561 Views