Income Tax News


IT Department conducts search operations on a taxpayer in Delhi

   06 December 2021 at 12:13

The Income Tax Department initiated search action on 24.11.2021 on a taxpayer in Delhi who has created a beneficiary trust and an underlying company in low tax overseas jurisdiction.

Posted in Income Tax |   5238 Views


Over 3 crore ITRs filed on the new e-Filing portal of Income Tax Department

   05 December 2021 at 16:44

More than 3 crore Income Tax Returns filed on new e-Filing portal of Income Tax Department; Taxpayers who are yet to file their ITRs for AY 2021-22 advised to file at the earliest

Posted in Income Tax |   6057 Views


CBDT issues refunds to more than 1.15 crore taxpayers from 1st April to 29th November, 2021

   02 December 2021 at 09:07

CBDT issues refunds of over Rs. 1,29,210 crore to more than 1.15 crore taxpayers from 1st April, 2021 to 29th November 2021.

Posted in Income Tax |   1257 Views


CBDT extends the last date for updating UDINs till 31st January, 2022

   30 November 2021 at 17:53

The CBDT has extended the last date for updating UDINs for all the IT forms at the e-filing portal to 31st January, 2022.

Posted in Income Tax |   10290 Views


FM Nirmala Sitharaman and CM Yogi Inaugurate IT Departments Office Complex, 'Pratyaksh Kar Bhawan', at Lucknow

   27 November 2021 at 08:43

The Income Tax Department's new Office Complex, the 'Pratyaksh Kar Bhawan', at Lucknow was inaugurated today i. e. 26.11.2021 by Chief Minister of Uttar Pradesh Shri Yogi Aditya Nath and Union Finance & Corporate Affairs Minister Smt. Nirmala Sitharaman

Posted in Income Tax |   1461 Views


Unaccounted income worth Rs 66 lakh unearthed by IT Department during raids in Maharashtra, Gujarat, Delhi

   26 November 2021 at 08:40

Income Tax Department conducts search operations in Maharashtra, Gujarat and Delhi on certain Indian companies and their associate concerns, controlled by a neighbouring country

Posted in Income Tax |   1485 Views


CBDT lays out guidelines for Sections 194O, 194Q & 206C to remove taxpayer difficulties

   26 November 2021 at 08:40

Guidelines under sub-section (4) of section 194-0, sub-section (3) of section 194Q and sub-section (1-1) of section 206C of the Income-tax Act, 1961

Posted in Income Tax |   12348 Views


CBDT amends Form No. 52A - Statement to be Furnished to AO u/s 285B for Production of a Cinematograph Film

   26 November 2021 at 08:40

Under the amended Income Tax (32nd Amendment) Rules, 2021, Form No. 52A which is a statement to be furnished to the Assessing Officer under section 285B of the Income Tax Act, 1961, in respect of production of a cinematograph film has been amended. 

Posted in Income Tax |   3258 Views


CBDT issues refunds to more than 1.11 crore taxpayers from 1st April to 22nd November 2021

   25 November 2021 at 07:02

CBDT issues refunds of over Rs. 1,23,667 crore to more than 1.11 crore taxpayers from 1st Apr,2021 to 22nd November,2021.

Posted in Income Tax |   1437 Views


Centre releases Tax Devolution instalments of Rs. 95,082 crore to State Governments

   24 November 2021 at 09:08

Centre releases two installments of tax devolution to State Governments amounting to Rs. 95,082 crore as against normal monthly devolution of Rs. 47,541 crore

Posted in Income Tax |   1296 Views