Income Tax News
99.94 lac new tax filers in 2017-18
03 April 2018 at 11:54Provisional Direct Tax Collections and Number of Income Tax Returns filed for F.Y. 2017-2018The provisional figures of Direct Tax collections for FY 2017-18 show that net collections are at Rs.9.95 lakh crore which is 17.1% higher than the net collec
Income tax office to remain open on 29th,30th and 31st March
28 March 2018 at 10:41The last date for filing belated returns for Assessment Years 2016-17 and 2017-18 and revised returns for Assessment Year 2016-17 is 31st March, 2018. The Financial Year 2017-18 closes on 31st March, 2018 which is a Saturday. 29th & 30th March, 2
CBDT extends date for linking Aadhar with PAN till 30th June 2018
28 March 2018 at 10:41The Central Board of Direct Taxes (CBDT) had allowed time till 31st March, 2018 to link PAN with Aadhaar while filing the Income Tax Returns. Upon consideration of the matter, the CBDT further extends the time for linking PAN with Aadhaar till 30th J
Requirement to furnish country by country report under sec 286(4) of Income Tax Act
27 March 2018 at 12:34The Government of India issues clarification regarding requirement for furnishing of Country-by Country Report under Section 286(4) of Income Tax Act, 1961.In keeping with India’s commitment to implement the Recommendations of the 2015 Final Re
Questionnaire released for new Direct Tax law
22 March 2018 at 11:12Stakeholder engagement by the Task Force drafting the new Direct Tax LawA Task Force has been constituted to review the Income-tax Act, 1961 and to draft a new Direct Tax Law in consonance with the economic needs of the country.In this endeavour of d
Action taken by ICAI on PNB matter
10 March 2018 at 12:42Immediately after the report of major fraud in Punjab National Bank coming out in the various Newspapers, the ICAI has taken suo moto cognizance of media reports and as a proactive step has sought assistance by writing to various investigating arms o
87.79 crore banks accounts have been linked with Aadhaar
10 March 2018 at 12:38As per the latest available information as on 05.03.2018, number of Aadhaar cards linked with PAN is 16,65,82,421 . Further, as on 02.03.2018, 8779.65 Lakhs Current Accounts and Savings Accounts have been linked with Aadhaar.There are number of secur
Direct Tax collection show a growth of 19.5% till Feb 2018
09 March 2018 at 16:49Direct Tax collections for F.Y. 2017-2018 show growth of 19.5% up to February, 2018The provisional figures of Direct Tax collections up to February, 2018 show that net collections are at Rs.7.44 lakh crore which is 19.5% higher than the net collectio
GDP growth revised to 6.6% in 2017-18
01 March 2018 at 10:38Finance Ministry: Robust growth in manufacturing and significant acceleration in construction mark a turnaround in the country’s economic growth momentum; Heralding an improvement in the investment climate, real gross fixed capital formation is
New facilities for UAN Aadhar linking introduced By EPFO
28 February 2018 at 10:45Employees' Provident Fund Organisation (EPFO) has introduced UAN-Aadhaar linking facility for the convenience of members using EPFO Link in UMANG Mobile App. This is in addition to the existing web facility already available at EPFO's we
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