Income Tax News

Relaxation of compounding of offences to 12 month under IT Act

12 September 2019 at 11:32

Relaxation of time-Compounding of Offences under Direct Tax Laws-One-time measure

Posted in Income Tax | 1800 Views

LTCG and STCG cases added as exception to monetary limits for filing appeals by dept

09 September 2019 at 10:59

Circular No. 23 of20l9 F. No. 279/Misc.lM-93/20l8-ITJ(Pt.)Government of IndiaMinistry of FinanceDepartment of RevenueCentral Board Direct TaxesJudicial SectionCircular No. 23 of20l9New Delhi, 6th September 2019Subject: Exception to monetary limits fo

Posted in Income Tax | 11493 Views

CBDT guidelines for manual selection of scrutiny for 2019-20

06 September 2019 at 11:27

F.No.225/169/2019/ITA-11 Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes (ITA-II division) North Block, New Delhi, the 5th September, 2019 To All Pr. Chief-Commissioners of Income-tax/Chief-Commissioner of

Posted in Income Tax | 24474 Views

CBDT consolidated Circulars for Start-ups

03 September 2019 at 11:33

In order to provide hassle-free tax environment to the Start-ups, a series of announcements have been made by Union Finance & Corporate Affairs Minister Smt. Nirmala Sitharaman in her General Budget Speech, 2019, and also on 23rd August 2019. To

Posted in Income Tax | 7170 Views

More than 49 lac ITR filed smoothly in one day on 31st August

02 September 2019 at 12:06

Income Tax department made history with a quantum jump in the e-filing of Income- Tax Returns With an All time high record of 49 lakh 29 thousand and 121 ITRs filed in a single day on 31st August 2019.

Posted in Income Tax | 4 comments | 6294 Views

CBDT constitutes Start-up Cell for redressal of grievances related to Start-ups

31 August 2019 at 11:53

In order to redress grievances and address various tax related issues in the cases of Start-ups, a Start-up Cell has been constituted by CBDT on 30.08.2019

Posted in Income Tax | 4167 Views

CBDT clarifies sec 194N on cash withdrawal to come into effect from 1st Sep 2019

31 August 2019 at 10:52

In order to discourage cash transactions and move towards less cash economy, the Finance (No. 2) Act, 2019 has inserted a new section 194N in the Income-tax Act,1961 (the ‘Act’), to provide for levy of tax deduction at source (TDS) @2% on

Posted in Income Tax | 9837 Views

CBDT clarifies on fake news says no ITR due date extension

30 August 2019 at 17:26

It has come to the notice of CBDT that an order is being circulated on social media pertaining to extension of due dt for filing of IT Returns. It is categorically stated that the said order is not genuine. Taxpayers are advised to file Returns withi

Posted in Income Tax | 2 comments | 16320 Views

CBDT clarifies on differential regime between domestic investors and FPIs

29 August 2019 at 10:43

CBDT clarifies differential regime between domestic investors (including AIF category III) and FPIs existed even prior to General Budget 2019 and was not creation of the Finance (No. 2) Act, 2019The Central Board of Direct Taxes (CBDT) said today tha

Posted in Income Tax | 4833 Views

CBDT clarifies issues in filing ITR Forms for AY 2019-20

28 August 2019 at 11:06

Circular No. 21 of 2019F.No. 370142/1/2019-TPL (Pt.-1)Government of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Direct Taxes(TPL Division)***Dated: 27th August, 2019Clarifications in respect of filling-up of the ITR forms for the As

Posted in Income Tax | 2 comments | 34203 Views