Income Tax News
CBDT finally extends Tax Audit due date to 31st October
26 September 2019 at 22:52On consideration of representations recd from across the country,CBDT has decided to extend the due date for filing of ITRs & Tax Audit Reports from 30th Sep,2019 to 31st of Oct,2019 in respect of persons whose accounts are required to be audited
Income Tax Dept clarifies no extension of Tax audit due date yet
25 September 2019 at 12:42The notification of due date extension pertaining to filing of ITRs that is being circulated on social media platforms is not genuine. Taxpayers are advised not to fall prey to such false news.
ICAI sends representation to CBDT for extension of time for submission of Tax Audit reports
23 September 2019 at 17:49Representation to CBDT requesting for extension of time for submission of Tax Audit Reports and related returns from 30th September, 2019 to 30th November, 2019..
Big Bang reform : Corporate tax rates slashed to 22% for domestic companies and 15% for new manufacturing companies
20 September 2019 at 12:34The Government has brought in the Taxation Laws (Amendment) Ordinance 2019 to make certain amendments in the Income-tax Act 1961 and the Finance (No. 2) Act 2019. This was announced by the Union Minister for Finance & Corporate Affairs Smt Nirmal
2% TDS on cash payment withdrawn for Farmers
18 September 2019 at 11:40Addressing the concerns raised by Agriculture Produce Market Committees (APMCs), it has been decided not to levy the 2% TDS on cash payments above Rs 1 crore made through APMCs, in order to make immediate payments to farmers for their produce.
E-assessment scheme notified by CBDT
13 September 2019 at 17:56NOTIFICATIONNew Delhi, the 12th September, 2019(INCOME-TAX)S.O. 3265(E).- In exercise of the powers conferred by sub-section (3B) of section 143 of the Income-tax Act, 1961 (43 of 1961), for the purposes of giving effect to the E-assessment Scheme, 2
Cost inflation index for 2019-20 notified as 289
13 September 2019 at 12:31Cost inflation index for 2019-20 notified as 289
Amendment in requirements for approval of an institution or fund under section 80G
12 September 2019 at 11:32Income-tax (6th Amendment) Rules, 2019
Relaxation of compounding of offences to 12 month under IT Act
12 September 2019 at 11:32Relaxation of time-Compounding of Offences under Direct Tax Laws-One-time measure
LTCG and STCG cases added as exception to monetary limits for filing appeals by dept
09 September 2019 at 10:59Circular No. 23 of20l9 F. No. 279/Misc.lM-93/20l8-ITJ(Pt.)Government of IndiaMinistry of FinanceDepartment of RevenueCentral Board Direct TaxesJudicial SectionCircular No. 23 of20l9New Delhi, 6th September 2019Subject: Exception to monetary limits fo
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