Income Tax News

Government extends various Deadlines under the Income Tax Act due to the pandemic

24 April 2021 at 13:06

In view of the severe Covid-19 pandemic raging unabated across the country affecting the lives of our people, and in view of requests received from taxpayers, tax consultants & other stakeholders the Government has extended certain timelines today.

Posted in Income Tax | 1 comments | 15909 Views

CBDT issues notification specifying format, procedure and guidelines for submission of SFT for Interest Income

23 April 2021 at 05:19

The Central Board of Direct Taxes has notified the Format, Procedure and Guidelines for SFT for Interest Income under Section 285BA of the Income Tax Act, 1961 and Rule 114E that requires specified reporting persons to furnish SFT.

Posted in Income Tax | 8670 Views

CBDT issues notification specifying format, procedure and guidelines for submission of SFT for Dividend Income

23 April 2021 at 05:13

The Central Board of Direct Taxes has notified the Format, Procedure and Guidelines for submission of SFT for Dividend Income under Section 285BA of the Income Tax Act, 1961 and Rule 114E that requires specified reporting persons to furnish SFT.

Posted in Income Tax | 1734 Views

CBDT notifies Canada Pension Plan Investment Board under Section 10(23FE)

23 April 2021 at 04:53

The Central Board of Direct Taxes has specified the pension fund, namely, the Canada Pension Plan Investment Board, as the specified person under Section 10(23FE) of the Income Tax Act.

Posted in Income Tax | 1326 Views

Request for Extension of Income Tax Due Dates and Time Barring Assessments

22 April 2021 at 15:24

The Lucknow CA Tax Practitioners Association has requested the Finance Minister Smt. Nirmala Sitharaman to extend various due dates under the Income Tax Act, together with the time barring date for the assessments which require a personal hearing.

Posted in Income Tax | 2 comments | 10803 Views

CBDT issues refunds to more than 7.39 lakh taxpayers between 1st April to 19th April, 2021

21 April 2021 at 22:09

Income tax refunds of Rs. 3,073 crore have been issued in 7,23,561 cases & corporate tax refunds of Rs. 2,577 crore have been issued in 15,206 cases.

Posted in Income Tax | 1185 Views

CBDT notifies audit report to be filed by the Sovereign Wealth Fund claiming exemption u/s 10(23FE)

21 April 2021 at 05:23

The Central Board of Direct Taxes has notified ‘Norfund, Govt of Norway’ as a Sovereign Wealth Fund and has specified the audit report to be filed by them for claiming exemption under Section 10(23FE).

Posted in Income Tax | 1455 Views

CBDT releases new Form 10BBA to relax provisions for Pension Fund to avail exemption

17 April 2021 at 05:08

The Central Board of Direct Taxes has released the Income-tax (10th Amendment) Rules, 2021 to further amend the Income-tax Rules, 1962.

Posted in Income Tax | 2007 Views

ITR-1 and ITR-4 forms for AY 2021-22 | Offline Utility Guide

05 April 2021 at 05:17

Steps to Download and install Offline Utility and fill the forms ITR-1 & ITR-4 for the AY 2021-22 have been listed in this news piece.

Posted in Income Tax | 11751 Views

CBDT releases JSON utility for forms ITR-1 and ITR-4 for AY 2021-22

03 April 2021 at 22:07

CBDT releases the new ITR 1 and ITR 4 forms for the AY 2021-22 in the JSON utility. Instructions for the usage of these offline utilities have been listed here...

Posted in Income Tax | 6621 Views