Income Tax News

FM Jaitely defends Demonetisation says key step in formalising the economy

09 November 2018 at 11:29

Following is the Text of the Article written by the Union Minister of Finance and Corporate Affairs, Shri Arun Jaitley on completion of two years of Demonetisation entitled � Impact of Demonetisation�:�Today we complete two years af

Posted in Income Tax | 2 comments | 4725 Views

Draft Notification proposing Amendment of Rules 2C, 2CA,10G and others

29 October 2018 at 17:56

Draft Notification proposing Amendment of Rules 2C, 2CA and 11AA and for Nos. 10G, 56 and 56G of the Income-tax Rules, 1962 placed in public domain for inputs from stakeholders and general publicCurrently, for grant of approval under sub-clauses (iv)

Posted in Income Tax | 3 comments | 7068 Views

No further extension of ITR and Tax audit dates says CBDT

26 October 2018 at 11:34

CBDT confirmed that there will be no further extension of ITR and TAR due dates. Rejected Tax bar association Guwahati request. Issues below notification.

Posted in Income Tax | 2 comments | 14034 Views

Cabinet approves appointment of Appellate Tribunal for Benami Property Transaction

25 October 2018 at 11:02

Cabinet approves appointment of Adjudicating Authority and establishment of Appellate Tribunal under Prohibition of Benami Property Transactions Act, 1988The Union Cabinet chaired by Prime Minister Shri Narendra Modi has approved the appointment of A

Posted in Income Tax | 6453 Views

CBDT further extends due date for audit to 31st October

08 October 2018 at 18:27

CBDT further extends due dt for filing of IT Returns & audit reports from 15th Oct,2018 to 31st Oct, 2018 for all assessees liable to file ITRs for AY 2018-19 by 30.09.2018,after considering representations from stakeholders. Liability to pay int

Posted in Income Tax | 23 comments | 85191 Views

Direct tax collection at 5.47 lakh crore growing at 16.7%

05 October 2018 at 10:55

Direct Tax Collections for F.Y. 2018-19 up to September, 2018 (Half-yearly figures) show that gross collections are at Rs. 5.47 lakh crore which is 16.7% higher than the gross collections for the corresponding period of last yearThe provisional figur

Posted in Income Tax | 2 comments | 7317 Views

CBI Arrests an Income Tax Inspector in A Bribery case of Rs. 10 Lakh

05 October 2018 at 10:55

The Central Bureau of Investigation has arrested an Income Tax Inspector, working in the office of Joint Commissioner, Income Tax, Range-III, Lucknow and a private person in a bribery case of Rs. 10 lakh. A case was registered U/s 7 and 7A of PC Act,

Posted in Income Tax | 3669 Views

Key Features of new TDS Return preparation software

04 October 2018 at 10:57

i. Integration of new Encryption certificate in File Validation Utilities (FVUs)- Renewed Encryption certificate with extended validity has been integrated in FVUsii. Incorporation of latest File Validation Utility (FVU) version 5.9 (applicable for T

Posted in Income Tax | 3 comments | 9555 Views

Tax audit and ITR due date extended to 15th October

24 September 2018 at 16:58

CBDT extends due dt for filing of Income Tax Returns & audit reports from 30th Sept,2018 to 15th Oct, 2018

Posted in Income Tax | 16 comments | 96597 Views

Gurugram DGGI arrests two businessmen for fraudulent Rs. 79.21 crore ITC invoices

21 September 2018 at 15:35

Gurugram Zonal Unit of the Directorate General of GST Intelligence (DGGI) arrests two businessmenin a case of fraudulent issuance of Input Tax Credit (ITC) invoices without actual supply of goods, involving evasion of approximately Rs. 79.21 crore on

Posted in Income Tax | 1 comments | 5127 Views