Income Tax News
CBDT guidelines for manual selection of scrutiny for 2019-20
06 September 2019 at 11:27F.No.225/169/2019/ITA-11 Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes (ITA-II division) North Block, New Delhi, the 5th September, 2019 To All Pr. Chief-Commissioners of Income-tax/Chief-Commissioner of
CBDT consolidated Circulars for Start-ups
03 September 2019 at 11:33In order to provide hassle-free tax environment to the Start-ups, a series of announcements have been made by Union Finance & Corporate Affairs Minister Smt. Nirmala Sitharaman in her General Budget Speech, 2019, and also on 23rd August 2019. To
More than 49 lac ITR filed smoothly in one day on 31st August
02 September 2019 at 12:06Income Tax department made history with a quantum jump in the e-filing of Income- Tax Returns With an All time high record of 49 lakh 29 thousand and 121 ITRs filed in a single day on 31st August 2019.
CBDT constitutes Start-up Cell for redressal of grievances related to Start-ups
31 August 2019 at 11:53In order to redress grievances and address various tax related issues in the cases of Start-ups, a Start-up Cell has been constituted by CBDT on 30.08.2019
CBDT clarifies sec 194N on cash withdrawal to come into effect from 1st Sep 2019
31 August 2019 at 10:52In order to discourage cash transactions and move towards less cash economy, the Finance (No. 2) Act, 2019 has inserted a new section 194N in the Income-tax Act,1961 (the ‘Act’), to provide for levy of tax deduction at source (TDS) @2% on
CBDT clarifies on fake news says no ITR due date extension
30 August 2019 at 17:26It has come to the notice of CBDT that an order is being circulated on social media pertaining to extension of due dt for filing of IT Returns. It is categorically stated that the said order is not genuine. Taxpayers are advised to file Returns withi
CBDT clarifies on differential regime between domestic investors and FPIs
29 August 2019 at 10:43CBDT clarifies differential regime between domestic investors (including AIF category III) and FPIs existed even prior to General Budget 2019 and was not creation of the Finance (No. 2) Act, 2019The Central Board of Direct Taxes (CBDT) said today tha
CBDT clarifies issues in filing ITR Forms for AY 2019-20
28 August 2019 at 11:06Circular No. 21 of 2019F.No. 370142/1/2019-TPL (Pt.-1)Government of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Direct Taxes(TPL Division)***Dated: 27th August, 2019Clarifications in respect of filling-up of the ITR forms for the As
Government withdraws enhanced surcharge on tax payable on transfer of certain assets
26 August 2019 at 11:18In order to encourage investment in the capital market, it has been decided to withdraw the enhanced surcharge levied by Finance (No. 2) Act, 2019 on tax payable at special rate on income arising from the transfer of equity share/unit referred to in
CBDT issues clarification on eligibility of small Start-ups to avail tax holiday
23 August 2019 at 11:17The Central Board of Direct Taxes (CBDT) has clarified today that small start-ups with turnover upto Rs. 25 crore will continue to get the promised tax holiday as specified in Section 80-IAC of the Income Tax Act, 1961(the ‘Act’), which p
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