Income Tax News
Cost Inflation Index for FY 2021-22
16 June 2021 at 06:41Cost Inflation Index for FY 2021-22 is 317. It is used to calculate the inflation adjusted cost price of an asset. The inflation adjusted price then is used to arrive at long-term capital gains or long-term losses.
Finance Ministry to hold meeting on 22nd June, 2021 with Infosys on issues in new Income Tax Portal
15 June 2021 at 22:33Senior officials of the Ministry of Finance, Government of India, will hold an interactive meeting on the 22nd of June, 2021, between 11:00 AM to 01:00 PM with Infosys on issues/glitches in the recently launched e-filing portal of the IT Department.
Relaxation in electronic filing of Income Tax Forms 15CA/15CB
14 June 2021 at 18:01In view of the difficulties reported by taxpayers in electronic filing of IT Forms 15CA/15CB on the portal, it has been decided that taxpayers can submit the aforesaid Forms in manual format to the authorized dealers till June 30th, 2021.
FM Nirmala Sitharaman urges the Infosys team to look into the new E-Filing Portal Issues
09 June 2021 at 05:27Finance Minister Smt. Nirmala Sitharaman took to her Twitter handle to request the entire Infosys Team and Co-Founder Nandan Nilekani to look into the grievances of the taxpayers and glitches on the functioning of the new E-Filing website.
CBDT amends TDS Form 26Q
09 June 2021 at 05:20CBDT has released the Income-tax (17th Amendment) Rules, 2021 in order to further amend the Income-tax Rules, 1962 wherein, changes have been made in the "Annexure: Deductee/Payee Wise Breakup of TDS" in the TDS Form 26Q.
Features of the New E-Filing Portal
05 June 2021 at 22:40The Income Tax Department has launched its new e-filing portal on 7th June 2021 which is aimed at providing taxpayer convenience and a modern, seamless experience to taxpayers. Some of the highlights of the new portal are detailed here.
CBDT issues refunds to more than 15.47 lakh taxpayers between 1st April to 31st May, 2021
04 June 2021 at 18:41Income tax refunds of Rs. 7,538 crore have been issued in 15,02,854 cases & corporate tax refunds of Rs. 18,738 crore have been issued in 44,531 cases.
CBDT member JB Mohapatra handed over the charge of Chairman
01 June 2021 at 06:29Upon completion of his tenure, here is the outgoing Chairman CBDT, Sh. PC Mody handing over the charge of Chairman, CBDT to Sh. JB Mohapatra, Member, CBDT, who will hold the charge in addition to his regular duties.
CBDT issues refunds to more than 15.45 lakh taxpayers between 1st April and 24th May 2021
26 May 2021 at 17:03Income tax refunds of Rs. 7,494 crore have been issued in 15,00,397 cases & corporate tax refunds of Rs. 17,807 crore have been issued in 44,140 cases.
CBDT issues clarification w.r.t limitation for filing of appeals before CIT(Appeals) under IT Act,1961
25 May 2021 at 22:35The Central Board of Direct Taxes clarifies that if different relaxations are available to the taxpayers for a particular compliance, the taxpayer is entitled to the relaxation which is more beneficial to him.
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