Income Tax News

Actions taken by IT Department against Black Money

01 August 2018 at 11:41

The Income-tax Department (ITD) takes appropriate action against black money which is an on-going process. Such action under the Direct Tax laws includes searches, surveys, enquiries, assessment of income, levy of penalties and filing of prosecutio

Posted in Income Tax | 1 comments | 11196 Views

Benami Properties of Rs. 4300 crores uncovered

01 August 2018 at 11:41

Due to intensive efforts undertaken by the Income-tax Department, provisional attachment has been made in more than 1600 cases of properties under the Benami Transactions (Prohibition) Act, 1988. These include plots of land, flats, shops, vehicles, d

Posted in Income Tax | 1752 Views

CBDT Extends ITR due Date for AY 2018-19

26 July 2018 at 18:24

CBDT Extends ITR due Date for AY 2018-19 from 31st July, 2018 to 31st August, 2018

Posted in Income Tax | 57 comments | 135564 Views

ICAI requests to extend due date for filing ITR for AY 2018-19

25 July 2018 at 18:28

Although the ITR forms for AY 2018-19 were notified on 3rdApril, 2018 vide Notification No. 16/2018, the ITR Form utilities in Java and Excel were released much later in the month of May, 2018(except ITR 1 utility which was released on 14.4.18). Almo

Posted in Income Tax | 10 comments | 26304 Views

Aadhar OTP E-verification for ITR is temporarily down

25 July 2018 at 15:05

The Aadhar OTP E-verification option used for Income Tax Return verifications has been made temporarily unavailable for taxpayers. The same will be resumed shortly. The Taxpayers are advised to file their returns and e-verify the same through other o

Posted in Income Tax | 4 comments | 13890 Views

Form 3CD revised by CBDT wef 20th August

24 July 2018 at 11:49

MINISTRY OF FINANCE(Department of Revenue)(CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 20th July, 2018 G.S.R. 666(E). - In exercise of the powers conferred by section 44AB read with section 295 of the Income-tax Act, 1961 (43 of 1961)

Posted in Income Tax | 1 comments | 12024 Views

Major Steps taken for Reducing Tax Litigations

12 July 2018 at 15:04

In order to reduce the long pending grievances of taxpayers and to minimise litigations pertaining to tax matters and to facilitate the Ease of Doing Business, Government of India has decided to increase the threshold monetary limits for filing Depar

Posted in Income Tax | 4050 Views

Key feature for new TDS return preparation utility

11 July 2018 at 13:34

e-TDS/TCS Return Preparation Utility Ver. 2.3 for Regular & Correction Statement(s) from FY 2007-08 onwards.Features of RPU 2.3NSDL e-Gov RPU_e-Tutorial (Version 1.7)e-TDS/TCS Regular & Correction Statement(s) for FY 2007-08 and onwards (i.e.

Posted in Income Tax | 1 comments | 12681 Views

DSC based online application for new PAN

06 July 2018 at 11:59

(a) An applicant will fill Form 49A online and submit the form. (b) If there are any errors, rectify them and re-submit the form. (c) A confirmation screen with all the data filled by the applicant will be displayed. (d)

Posted in Income Tax | 1 comments | 11718 Views

Empower CMA to do valuation and certification under income tax rules

05 July 2018 at 11:20

Ref: ICAI/TRD/JUNE2018 Dated: 28.06.2018To,Shri Pravin Rawal,Director (Tax Policy and Legislation)North Block,New Delhi 110001.Dear Sir,Re: Empowering the members of the Institute of Cost Accountants of India (ICAI) for Valuation and certification th

Posted in Income Tax | 8502 Views