Income Tax News

CBDT releases Updated Form 64D

19 March 2021 at 05:22

An updated version of form 64D as per notification no. 55/2020 is now available for filing by the Central Board of Direct Taxes on the E-Filing Portal.

Posted in Income Tax | 1 comments | 11391 Views

CBDT | Clarification on continuation of concessional rate of tax on certain interest income of the FPIs

17 March 2021 at 19:15

CBDT issues clarification on continuation of concessional rate of tax on interest income of FPIs. It has been clarified that the concessional rate of 5% will continue to be applicable on certain interest income of FPIs.

Posted in Income Tax | 1332 Views

CBDT issues refunds to more than 2.09 crore taxpayers between 1st April 2020 to 15th March 2021

17 March 2021 at 16:41

Income tax refunds of Rs. 73,607 crore have been issued in 2,06,64,547 cases & corporate tax refunds of Rs. 1,31,198 crore have been issued in 2,21,014 cases.

Posted in Income Tax | 1119 Views

Income Tax | Significant Changes w.e.f 1st April 2021

17 March 2021 at 14:17

Significant changes in income tax that would come w.e.f 1st April 2021 has been listed here in a tabular format.

Posted in Income Tax | 5 comments | 22815 Views

CBDT diversifies existing posts for functional requirement

17 March 2021 at 05:07

CBDT hereby makes an amendment in the notification of the Government of India, Ministry of Finance, Central Board of Direct Taxes, No.66/2014 dated 13th November 2014.

Posted in Income Tax | 1731 Views

CBDT inserts new Form 15E and Amends Rule 29BA

17 March 2021 at 04:57

CBDT has released the Income-tax (5th Amendment) Rules, 2021 which will come into force with effect from the 1st day of April 2021. A new Form 15E has been introduced by the competent authority and an amendment has been made under Rule 29BA as well.

Posted in Income Tax | 9516 Views

82,072 assessment cases completed in faceless manner till 10th March 2021

16 March 2021 at 17:39

Income tax assessments are being done in a faceless manner, this was stated by Shri Anurag Singh Thakur, Union Minister of State for Finance & Corporate Affairs, in a written reply to a question in Rajya Sabha today.

Posted in Income Tax | 1173 Views

Tax relief for industries affected by Coronavirus

15 March 2021 at 17:48

In view of the challenges faced by taxpayers due to the outbreak of Novel Corona Virus (COVID-19), the Government of India has taken several taxation measures to extend tax exemptions received by the industries.

Posted in Income Tax | 2 comments | 9606 Views

Income-tax (4th Amendment) Rules, 2021

13 March 2021 at 05:21

The Central Board of Direct Taxes has released the Income-tax (4th Amendment) Rules, 2021 and has made various amendments with respect to pre-filling the return of income under Rule 114(E) of the Income Tax Rules, 1962.

Posted in Income Tax | 2 comments | 13581 Views

ICAI extends Condonation Scheme to regularize UDINs to 31st March 2021

12 March 2021 at 22:44

The Institute of Chartered Accountants of India has extended the Condonation Scheme to regularize UDINs to 31st March 2021. Thus, all the missed UDINs between the period 1st February 2019 to 10th March 2021 can now be generated up to 31st March 2021.

Posted in Income Tax | 12201 Views