A Task Force was constituted by the Government in November, 2017 to review the existing Income-tax Act, 1961 and to draft a new direct tax law in consonance with economic need s of the country. It was required to submit its report by 31st of July, 20
Income Tax Department conducted searches on 23rd July, 2019 in a group covering 13 premises across 3 States (Delhi, Haryana & Himachal Pradesh).The group, controlled by persons who have significant political presence in a neighbouring State for d
Finance Minister exhorted Income Tax officers to be prompt in redressing the grievances of the tax payersFinance Minister asks Tax officers to deal firmly with Tax evaders Income Tax Department celebrates Aaykar Diwas 2019The Union Minister of Financ
CGST Commissionerate, Gurugram arrest Three persons for committing offences under CGST Act CGST Commissionerate, Gurugram, Haryana has arrested three persons namely, Sh. Sh. Anil Kumar, S/o Sh. Balwan Singh, R/o VPO Jevra, Tehsil Barwala, Dist.- Hisa
Due date for ITR extended to 31st August 2019
ITR-2 & ITR-5 utilities are modified to fix bugs identified while filling Schedule FA in ITR-2 (Java utility), Partners information is ITR-5 (Java utility) and Part A-General answer to Investment Fund query in ITR-5 (Excel utility). These bug fix
Modification of the term "Accountant" as appearing in the Explanation below sub-section (2) of section 288 of the Income Tax Act, 1961 to include the "Cost Accountant" thereinThe Institute of Cost Accountants of India (ICAI) is a
Schedule 112A and 115AD(1)(iii) of long term capital gain are provided in the Income Tax Return software as per the Instructions to the Notified ITR form and based on taxpayer feedback.Taxpayers have an option to either enter the Scrip wise details o
CBDT issues clarification on incorrect reports in social media pertaining to difficulty in filing of Income Tax ReturnsCentral Board of Direct Taxes (CBDT) has said today that no changes have been made in any of the Income-tax Return (ITR) forms incl
Taxpayers are requested to note the followings in connection with pre-filling of ITRs-1. Pre-filling of ITR is only for the taxpayer's convenience. Taxpayers should verify the pre-filled data carefully and add any other taxable income which is no