Income Tax News

CBIC issues clarification for taxpayers opting composition scheme

08 April 2019 at 11:18

Circular No. 97/16/2019-GSTF. No. CBEC-20/16/04/2018 � GST (Pt. I)Government of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Indirect Taxes and CustomsGST Policy Wing****New Delhi, Dated the 5th April 2019To,The Principal Chief

Posted in Income Tax | 8331 Views

ITR Forms for AY 2019-20 notified by CBDT

05 April 2019 at 11:32

New ITR forms have been released by CBDT for the assessment year 2019-20. They will have come into force from 1st April 2019.

Posted in Income Tax | 1 comments | 16116 Views

Last date to link PAN with Aadhaar extended to 30th Sep 2019

01 April 2019 at 11:37

Government of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Direct Taxes New Delhi, 31st March, 2019CBDT issues clarification on linking of PAN with AadhaarIt has been reported in some sections of the media that those PANs which are n

Posted in Income Tax | 1 comments | 4887 Views

Startups can now view their application to DPIIT in e-filing

27 March 2019 at 23:51

Facility to view Form 2 Declaration filed with DPIIT ( Department for Promotion of Industry and Internal Trade) by a startup is now available in e-Filing. Go to My Account -> 'View Startup Form 2 Declaration'.

Posted in Income Tax | 2874 Views

Banks to remain open on Sunday 31st March

27 March 2019 at 12:46

According to a recent notification released by RBI, it says that the Government of India has advised all Pay and Account offices to remain open on 31st March 2019 to facilitate

Posted in Income Tax | 6756 Views

CBDT refutes media report on Yeddyurappa diary

25 March 2019 at 11:24

A search action under Section 132 of the Income-tax Act, 1961 was carried-out on Sh. D.K Shivakumar and Group of Cases on 2nd August, 2017 by the Income Tax Investigation Directorate of Karnataka & Goa. A large evidence of incriminating material

Posted in Income Tax | 6603 Views

IT dept conduct searches in Kashmir Valley

18 March 2019 at 13:12

IT Department has seized Rs. 1.44 crores cash & more during the search operation in Kashmir ValleyIncome Tax Dept has conducted searches at 5 locations in J&K region on 14th March 2019. The actions were a part of Department's continued dr

Posted in Income Tax | 9 comments | 7881 Views

CBDT releases SOP: 87,000 cases non-compliant to the notice issued u/s 142(1) relating to demonetization

08 March 2019 at 16:44

CBDT had issued notice u/s 142(1) to taxpayers for filing returns post-demonetization to verify cash transactions. Out of the 300,000 cases who have issued the notification, 87,000 have not complied with the notice issued u/s 142(1). CBDT has now iss

Posted in Income Tax | 4620 Views

Income tax exemption for gratuity enhanced Up to Rs. 20 lakhs

08 March 2019 at 11:05

Ministry of Finance has enhanced the income tax exemption for gratuity under section 10 (10) (iii) of the Income Tax Act, 1961 to Rs. 20 lakhs. Shri Santosh Kumar Gangwar, Minister of State for Labour and Employment has expressed hope that this woul

Posted in Income Tax | 5 comments | 8175 Views

Guidelines for filling Online Udyog Aadhaar Form

04 March 2019 at 11:26

Note:A. EM-I has been abolished. Need not file through Udyog Aadhaar. B. Udyog Aadhaar (UA) is for running units. No need to apply for upcoming units. C. New Feature Added for Search Facility of NIC Code to Avoid 3 Step Selection of NIC Activities. D

Posted in Income Tax | 1 comments | 6426 Views