Income Tax News


IT Department conducts searches in Tamil Nadu resulting in the detection of undisclosed income of more than Rs. 450 crore

   30 November 2020 at 09:59

The Income Tax Department conducted searches on 27/11/2020 in the case of an IT SEZ developer, its ex-Director, and a prominent stainless-steel supplier in Chennai.

Posted in Income Tax |   4506 Views


CBDT to validate Unique Document Identification Number (UDIN) generated from ICAI portal at the time of upload of Tax Audit Reports

   27 November 2020 at 09:34

ICAI, in its gazette notification dated 2nd August 2019, had made the generation of UDIN from the ICAI website mandatory for every kind of certificate/tax audit report and other attests made by their members as required by various regulators.

Posted in Income Tax |   5622 Views


Income Tax Department releases new instruction sheets for filling of ITR - 2,3,5,6 & 7 for better clarity

   26 November 2020 at 09:57

The Income Tax Department has released a new set of instructions sheets and use of offline utilities for filing of ITR - 2,3,5,6, & 7 for better clarity of the taxpayer.

Posted in Income Tax |   3801 Views


CBDT issues refunds of over Rs. 1,36,962 crore to more than 41.25 lakh taxpayers between 1st April 2020 to 24th November 2020

   25 November 2020 at 15:29

Income tax refunds of Rs. 36,028 crore have been issued in 39,28,067cases &corporate tax refunds of Rs. 1,00,934 crore have been issued in 1,96,880 cases.

Posted in Income Tax |   3261 Views


CBIC launches guidebook for Faceless Assessment

   19 November 2020 at 10:52

Download the October 2020 Version 1.0 guidebook for Faceless Assessments launched by CBIC

Posted in Income Tax |   2763 Views


CBDT issues refunds of Rs. 1,36,066 crores to 40.19 lakh taxpayers between 1st April 2020 to 17th November 2020

   18 November 2020 at 17:41

Income tax refunds of Rs. 35,750 crore have been issued in 38,23,304 cases &corporate tax refunds of Rs.1,00,316 crore have been issued in 1,95,518 cases

Posted in Income Tax  12 comments |   11559 Views


CBIC makes amendments in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seeds, Areca Nut, Gold and Silver

   16 November 2020 at 10:36

CBIC makes amendments in Tariff Notification No. 107/2020-Customs (N.T.) in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seeds, Areca Nut, Gold and Silver

Posted in Income Tax |   3147 Views


Last date for filing applications under Sabka Vishwas (Legacy Dispute Resolution) Scheme extended to 31st December, 2020 Jammu & Kashmir and Ladakh

   13 November 2020 at 10:48

Last date for filing applications under Sabka Vishwas (Legacy Dispute Resolution) Scheme extended to 31st December, 2020 Jammu & Kashmir and Ladakh

Posted in Income Tax |   2568 Views


CBIC makes amendments in Exchange Rate Notification No. 106/2020 - Customs (N.T.)

   13 November 2020 at 10:48

CBIC makes amendments in Exchange Rate Notification No. 106/2020 - Customs (N.T.)

Posted in Income Tax |   1809 Views


Government to make amendments in the Income Tax Act to help home-buyers as well as developers

   12 November 2020 at 16:23

Government to make amendments in the Income Tax Act to help home-buyers as well as developers

Posted in Income Tax |   9174 Views



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