Income Tax News


CBIC announces the Revised Exchange Rates w.e.f 18th December 2020

   18 December 2020 at 10:12

The Central Board of Indirect Taxes and Customs has announced the Revised Exchange Rates relating to the import and export of goods w.e.f 18th December 2020.

Posted in Income Tax |   2376 Views


Income Tax Department conducts searches in a group case from Erode in Tamil Nadu

   18 December 2020 at 10:12

Overall, there is a detection of Rs. 700 crores of unaccounted income and a seizure of Rs. 21 crores of unaccounted cash as a result of this search.

Posted in Income Tax |   1239 Views


Request for extension in due date for filing IT Returns and Audit Reports - Lucknow CA Tax Practitioners Association

   17 December 2020 at 17:51

Request for extension of Due date for filing Income Tax Return of AY 2019-20 & AY 2020-21 and for filing of Audit Report under various provisions of the Income Tax Act, 1961 for Assessment Year 2020-21

Posted in Income Tax |   15882 Views


Instructions to the ITR Forms (ITR 1 to ITR 7) for A.Y. 2020-21

   17 December 2020 at 10:07

Instructions to the Income Tax Return Forms (ITR 1 to ITR 7) for A.Y. 2020-21 released by the Central Board of Direct taxes.

Posted in Income Tax |   11271 Views


Income Tax Department conducts searches in Chandigarh

   17 December 2020 at 10:07

The Income Tax Department carried out search and seizure operations on 13.12.2020 in the case of a Chandigarh based listed pharmaceutical company and its associated concerns.

Posted in Income Tax |   1407 Views


CBDT issues refunds of over Rs. 1,48,274 crores to more than 1.02 crore taxpayers between 1st April 2020 and 14th December 2020

   17 December 2020 at 10:07

Income tax refunds of Rs. 45,264crore have been issued in 1,00,02,982 cases & corporate tax refunds of Rs. 1,03,010 crore have been issued in 2,00,854 cases

Posted in Income Tax |   1029 Views


IT Department rolls out a dedicated Email ID to register feedback on the Faceless Assessment Scheme

   17 December 2020 at 10:07

Taxpayers may furnish their feedback/ grievance on the said email id, which will be closely monitored by a team of officials at the National e-Assessment Centre.

Posted in Income Tax |   2289 Views


CBIC waives the recording of UIN on the invoices, for the months of April 2020 to March 2021

   16 December 2020 at 13:03

The Central Board of Indirect Taxes has waived the recording of UIN on the invoices, for the months of April 2020 to March 2021.

Posted in Income Tax |   3024 Views


CBDT informs regarding income-tax assessees for identifying the eligible beneficiaries for transfer of financial assistance through Direct Benefit Transfer Scheme

   16 December 2020 at 10:27

The Central Board of Direct Taxes informs regarding income-tax assessees for identifying the eligible beneficiaries for transfer of financial assistance through the Direct Benefit Transfer Scheme.

Posted in Income Tax |   1272 Views


CBIC makes amendments in the Notification No. 36/2001-Customs (N.T.), dated the 3rd August, 2001

   16 December 2020 at 10:27

The Central Board of Indirect Taxes and Customs has made amendments in the Notification No. 36/2001-Customs (N.T.), dated the 3rd August 2001.

Posted in Income Tax |   1467 Views



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