Income Tax News


Guidelines for Compounding of Offences under Direct Tax Laws, 2019

   17 June 2019 at 11:38

F.No.28S/08/2014-IT(Inv.V)/ 147Government of IndiaMinistry of FinanceDepartment of Revenue(Central Board of Direct Taxes)C-Block, Dr. S.P. Mukherjee Civic Centre,Minto Road, New Delhi -11 00~2 .Dated: 14th June 2019All Pr.CCsIT/CCsIT/Pr.DGsITIDGsITMa

Posted in Income Tax |   5208 Views


Separate computation of capital gains for each scrip or units of mutual fund to be shown in ITR

   17 June 2019 at 11:38

In case of long term capital gains (LTCG) arising on sale of equity shares or unit of equity oriented fund or unit of business trust on which STT is paid, separate computation of capital gains should be made for each scrip or units of mutual fund sol

Posted in Income Tax  3 comments |   7527 Views


Aadhaar cannot be a mandatory proof of address unless law specifies

   13 June 2019 at 12:54

Making Aadhaar people friendlyNo individual to be compelled to provide proof of Aadhaar number unless provided by lawAadhaar number on voluntary basis to be accepted as KYC documentCabinet approves The Aadhaar and Other Laws (Amendment) Bill, 2019In

Posted in Income Tax  2 comments |   6876 Views


Rs 10,000 fine for possession of more than one PAN

   06 June 2019 at 11:25

As per provisions of Section 272B of the Income Tax Act., 1961, a penalty of Rs. 10,000 can be levied on possession of more than one PAN.

Posted in Income Tax  4 comments |   8937 Views


Date extended for linking PAN with Aadhaar to 30th Sep 2019

   06 June 2019 at 11:25

TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (i) Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes NOTIFICATION No. 31/2019 New Delhi, the 31st of March, 2019 In exe

Posted in Income Tax |   1989 Views


Due date extended for filing TDS statement Form 24Q to 30th June

   04 June 2019 at 12:13

CBDT extends the due date of filing of TDS Statement in Form 24Q for the financial year 2018-19 from 31st of May, 2019 to 30th of June, 2019.F.No.275/38/2017-IT(B)Government of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Direct Taxe

Posted in Income Tax  2 comments |   7752 Views


ITR 1, 2, 3, 4 & 5 for AY 2019-20 is now available for e-Filing

   29 May 2019 at 12:19

ITR 1, 2, 3, 4 & 5 for AY 2019-20 is now available for e-Filing. Other ITRs will be available shortlyInstructions:1. Select the Assessment Year2. Download and extract the zip file containing the utilities to the folder and open the utility3. Syst

Posted in Income Tax |   7341 Views


CBDT extends due date for TDS compliance in Odisha

   25 May 2019 at 10:43

With a view to redress genuine hardship faced by the deductors due to the severe disruption of normal life and breakdown of communication systems caused by cyclone "Fani" hitting the State of Odisha on 3rd of May, 2019, CBDT has provided th

Posted in Income Tax |   7134 Views


Modification in Form No. 15H: IT (4th Amendment Rules), 2019

   23 May 2019 at 18:02

MINISTRY OF FINANCE(Department of Revenue)(CENTRAL BOARD OF DIRECT TAXES)NOTIFICATIONNew Delhi, the 22nd May, 2019INCOME-TAXG.S.R. 375(E),- In exercise of the powers conferred by sub-section (1C) of section 197A read with section 295 of the Income-t

Posted in Income Tax |   6351 Views


CBDT issues Draft Notification for Amendment of Form No 10B of the Income-tax

   22 May 2019 at 11:58

Section 12A of the Income-tax Act, 1961 (the Act) provides for conditions for applicability of Sections 11 and 12 of the Act. One such condition under clause (b) of sub-section (1) thereof is that where the total income of the trust or institution c

Posted in Income Tax  2 comments |   8457 Views



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