CBDT has released the Income Tax (16th Amendment) Rules, 2021 wherein, an amendment has been made in the computation of Fair Market Value of Capital Assets for the purposes of section 50B of the Income Tax Act.
The Central Board of Direct Taxes has extended the due dates of Income Tax Return, Tax Audit, TDS Statement and Other Compliances to provide relief to taxpayers in view of the COVID-19 pandemic.
The Central Board of Direct Taxes is all set to launch a new E-Filing Portal on 7th June 2021. Thus, in preparation for the launch and migration activities, the existing portal will be unavailable from 1st June 2021 to 6th June 2021.
Income tax refunds of Rs. 7,458 crore have been issued in 14,98,488 cases & corporate tax refunds of Rs. 17,334 crore have been issued in 43,661 cases.
Tariff Notification No. 47/2021-Customs (N.T.) in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver.
Income tax refunds of Rs. 5,575 crore have been issued in 12,71,401 cases & corporate tax refunds of Rs. 11,486 crore have been issued in 29,592 cases.
The Central Board of Direct Taxes has given an extension for updating the Unique Document Identification Number generated from the ICAI portal in all the Income Tax Forms and Audit Reports uploaded at the e-filing portal, to 30th June 2021.
The news article published in Business Standard with the headline 'IT goes after hospitals over unaccounted cash' is unsubstantiated, clarifies Finance Ministry and CBDT.
CBDT grants relaxation of monetary limit u/s 269ST for cash payment above Rs 2.00 lakhs to Hospitals, Dispensaries, Nursing Homes, Covid Care Centres or similar other facilities providing Covid Treatment to patients during 1.4.2021 to 31.5.2021.
Central Board of Direct Taxes notifies amendments to the agricultural extension project
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