Income Tax News
Income Tax Department works on FVU Related Charges
07 January 2021 at 10:15The Income Tax Department has issued a clarification that they are working on the changes of File Validation Utility and the taxpayers are requested to wait for some time.
CBDT issues refunds of over Rs. 1,64,016 crores to more than 1.41 crore taxpayers between 1st April 2020 to 04th January 2021
07 January 2021 at 10:15The Central Board of Direct Taxes, via their official Twitter handle, has released the amount of refund that has been issued to 1.41 crore taxpayers, including the break-up of such a refund.
CBIC issues clarification on the wrong due date being shown on the portal during return filing
06 January 2021 at 09:34Over the past couple of days, various taxpayers reported that the due date for filing GSTR-1 for Oct-Dec 2020 period is being shown as 31.01.2021 on the GST Portal, while the actual due date is 13.01.2021.
Request to adopt a humane approach in handling the extension of due dates in the times of the pandemic by The Chamber of Tax Consultants
05 January 2021 at 19:31The Chamber of Tax Consultants has written a representation letter to the Ministry of Finance and CBDT to adopt a humane approach in handling the extension of due dates.
Income Tax Department releases a calendar to make the tax journey of taxpayers easier
04 January 2021 at 11:26The Income Tax Department has released a calendar in order to make the tax journey of taxpayers easier. This has been done as part of the Income Tax Department's ‘Transparent Taxation- Honoring The Honest’ initiative wherein, taxes are made untaxing.
CBIC eases the accreditation requirements for MSMEs AEO T1 & T2 certification
04 January 2021 at 11:26The Central Board of Indirect Taxes and Customs has eased the accreditation requirements for MSMEs AEO T1 & T2 certification, which further offers them 9 exclusive benefits.
CBIC explains about the Remission of Duties and Taxes on Exported Products (RoDTEP) Scheme
04 January 2021 at 11:26The Central Board of Indirect Taxes and Customs, via their official Twitter handle, has released a poster, explaining the Remission of Duties and Taxes on Exported Products (RoDTEP) Scheme, which is made applicable w.e.f 1st January 2021 onwards.
Income Tax Department requests taxpayers to use the latest Income Tax Utilities to avoid interest/fee u/s 234F/234A
04 January 2021 at 11:26The Income Tax Department, via their official Twitter handle, has asked the taxpayers and professionals to use the latest income tax utilities, which have been available w.e.f 1st January 2021 to avoid interest/fee u/s 234F/234A
Updated ITR Utilities now available for download on the e-Filing Portal
04 January 2021 at 10:02CBDT has extended the due date for filing Income Tax Returns for the Assessment Year 2020-21. Accordingly, the ITRs are modified to update the 234A interest & 234F Fee calculation and the same is available for download.
1,70,838 ITRs for AY 2020-21 have been filed on 2nd January upto 2 PM
02 January 2021 at 17:55The Income Tax Department, via their official Twitter Handle has released the daily statistics of Income Tax Returns Filed. Know the statistics for 2nd January 2021 here.
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