Income Tax News

Income Tax Department releases E-Brochure on Vivad se Vishwas Scheme

21 December 2020 at 18:05

The Income Tax Department has released an E-Brochure on the Vivad se Vishwas Scheme, asking taxpayers to settle their income tax disputes by filing a declaration by 31.12.20.

Posted in Income Tax | 3867 Views

3.69 crore Income Tax Returns for AY 2020-21 filed till 20th Dec 2020

21 December 2020 at 14:29

The Central Board of Direct Taxes has notified that the total Income Tax Returns filed till 20th December 2020 for AY 2020-21, is 3.69 crores. Read the ITR-Wise break-up of the figure here.

Posted in Income Tax | 2058 Views

Mandatory validation of UDIN in all Income Tax Forms

21 December 2020 at 11:00

CBDT has given a one-time relaxation by allowing them to update UDINs for forms latest by 31st December 2020 for treating these forms as valid.

Posted in Income Tax | 14718 Views

CBDT releases Checklist to Avoid Mistakes in Filing ITR 7 for AY 2020-21

18 December 2020 at 13:33

The Central Board of Direct Taxes has released a checklist to avoid mistakes in filing the Income Tax Return - 7 for AY 2020-21. Read the entire checklist here...

Posted in Income Tax | 14073 Views

Over 3.43 crore Income Tax Returns have already been filed for AY 20-21

18 December 2020 at 12:03

The Central Board of Direct Taxes has notified that the total Income Tax Returns filed for AY 2020-21, is 3.43 crores. Do you also wish to avoid the last minute rush? Then file your Income Tax Return now!

Posted in Income Tax | 2835 Views

Vivad se Vishwas: Opt for the scheme till December 31st, 2020

18 December 2020 at 11:26

The Income Department is attending all the VsVS related matters with utmost priority and it is requested that the taxpayers come forward and avail the scheme.

Posted in Income Tax | 2253 Views

BCAS gives representation on several hardships caused to the taxpayers

18 December 2020 at 10:19

The Bombay Chartered Accountants' Society has made a representation to the CPC on several hardships caused to the taxpayers and their suggestions for the same.

Posted in Income Tax | 2412 Views

CBIC announces the Revised Exchange Rates w.e.f 18th December 2020

18 December 2020 at 10:12

The Central Board of Indirect Taxes and Customs has announced the Revised Exchange Rates relating to the import and export of goods w.e.f 18th December 2020.

Posted in Income Tax | 2376 Views

Income Tax Department conducts searches in a group case from Erode in Tamil Nadu

18 December 2020 at 10:12

Overall, there is a detection of Rs. 700 crores of unaccounted income and a seizure of Rs. 21 crores of unaccounted cash as a result of this search.

Posted in Income Tax | 1239 Views

Request for extension in due date for filing IT Returns and Audit Reports - Lucknow CA Tax Practitioners Association

17 December 2020 at 17:51

Request for extension of Due date for filing Income Tax Return of AY 2019-20 & AY 2020-21 and for filing of Audit Report under various provisions of the Income Tax Act, 1961 for Assessment Year 2020-21

Posted in Income Tax | 15882 Views