Income Tax News
For FY 2021-22, IT Department has issued refunds of over Rs. 51,531 crore upto 23rd August 2021
30 August 2021 at 05:58To date, 93% of the refund claims in ITRs for AY 20-21 have already been processed. In the past week, refunds of over Rs. 15,269 crore have been issued which will be credited to taxpayers shortly.
CBDT extends due dates for electronic filing of various Forms under the Income-tax Act, 1961
29 August 2021 at 16:30On consideration of difficulties reported by the taxpayers and other stakeholders in electronic filing of certain Forms under the provisions of the Income-tax Act,1961, CBDT has decided to further extend the due dates for electronic filing of such Forms.
Date of payment under the Direct Tax Vivad se Vishwas Act, 2020 extended to 30th September 2021
29 August 2021 at 16:29Considering 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.
Draft notification for framing of rules for the amendments made by the Taxation Laws (Amendment) Act, 2021
29 August 2021 at 07:30The 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.
FM Nirmala Sitharaman sets 15th September as deadline for Infosys to resolve issues in the new IT Portal
23 August 2021 at 21:08The 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.
New IT Portal now live after emergency maintenance activity by Infosys
23 August 2021 at 06:31In 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.
FM Summons Infosys CEO to explain why glitches on the New IT Portal have not been resolved
22 August 2021 at 17:16Ministry 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.
CBDT notifies new Rule 12AA
20 August 2021 at 15:19CBDT 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.
Glitches in the New IT Portal expected to be solved in 2-3 weeks - FM
18 August 2021 at 05:49ANI, 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.
CBDT issues refunds to more than 22.61 lakh taxpayers between 1st April to 9th August, 2021
14 August 2021 at 10:30Income 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.
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