Income Tax News

CBDT releases the Faceless Penalty Scheme, 2021

13 January 2021 at 08:39

The penalty under this Scheme shall be imposed in respect of such territorial area, or persons or class of persons, or income or class of income or cases or class of cases, or penalties or class of penalties as may be specified by the Board.

Posted in Income Tax | 15615 Views

CBDT launches e-portal for filing complaints regarding tax evasion/Benami Properties/Foreign Undisclosed Assets

13 January 2021 at 08:33

The public can now file a Tax Evasion Petition through a link on the e-filing website of the Department under the head “File complaint of tax evasion/undisclosed foreign asset/ benami property”.

Posted in Income Tax | 4 comments | 7935 Views

Income tax department shares due date extensions of other countries while clarifying that no further extension will be made

12 January 2021 at 13:23

The Income Tax Department, on 11th January 2021 clarified that no further extension shall be given for Income Tax Returns and Tax Audit Reports. In this regard, they compared the due date extensions of other countries.

Posted in Income Tax | 14 comments | 21771 Views

No Further Extensions in the Due Date for Filing Income Tax Returns and Tax Audit Reports, says CBDT

11 January 2021 at 23:27

CBDT clarifies that there will be no further extensions in the due date for filing Income Tax Returns and Tax Audit Reports.

Posted in Income Tax | 19329 Views

E-Filing website to go under a maintenance activity on 11th Jan 2021 immediately after 12 midnight till 4 AM

11 January 2021 at 14:54

The Income Tax Department, via their official Twitter handle, has made an announcement stating that the E-Filing Portal will be going under a maintenance activity on 11th Jan 2021 immediately after 12 midnight till 4 AM.

Posted in Income Tax | 2160 Views

Income Tax Department requests taxpayers to give sufficient time before multiple submissions for Aadhaar OTP

11 January 2021 at 08:21

The Income Tax Department has requested taxpayers to give sufficient time before multiple submissions for Aadhaar OTP. This is because of the new restrictions by UIDAI of a maximum of 5 OTP requests for a single Aadhaar within a span of 30 minutes.

Posted in Income Tax | 5151 Views

IT Department conducts searches on 3 real estate & stock broking groups of Kolkata

09 January 2021 at 10:01

The search action has resulted in the seizure of unaccounted cash of Rs. 3.02 crore and jewellery worth Rs. 72 lakh.

Posted in Income Tax | 2490 Views

NSDL releases e-TDS/TCS Return Preparation Utility Ver. 3.5. Download now!

08 January 2021 at 17:53

The National Securities Depository Limited has released the e-TDS/TCS Return Preparation Utility Ver 3.5 for Regular & Correct e-TDS/TCS.

Posted in Income Tax | 6024 Views

CBIC releases updated rate of exchange of conversion w.e.f 8th January 2021

08 January 2021 at 10:49

The Central Board of Indirect Taxes and Customs hereby determines the rate of exchange of conversion of each of the foreign currencies given w.e.f 8th January 2021.

Posted in Income Tax | 3867 Views

FVU version 7.0 related changes have been enabled in e-filing portal

08 January 2021 at 08:29

The Income Tax Department, via the e-filing portal has announced that they have released the File Validation Utility (FVU) 7.0 related changes on the portal.

Posted in Income Tax | 2214 Views