Income Tax News

Government Extends Due Date for Filing Income Tax Returns, Tax Audit Reports and GST Compliances

30 December 2020 at 18:12

In view of the COVID-19 pandemic and the large scale disruption caused as a consequence of it, the Finance Ministry has decided to extend the due dates for Income Tax Returns, Tax Audit Report, and GST Compliances. Check out the extended due dates here.

Posted in Income Tax | 35 comments | 93255 Views

CBIC makes amendments in the Exchange Rate of Turkish Lira

30 December 2020 at 17:13

The Central Board of Indirect Taxes and Customs has made an announcement regarding the change in the Exchange Rate of Turkish Lira. Read the official announcement here.

Posted in Income Tax | 2085 Views

Income Tax Department reminds taxpayers to file ITR amidst request for due date extension

30 December 2020 at 15:19

The due date for taxpayers not requiring audit is 31st December 2020 and for those requiring audit is 31st January 2021. File your return now.

Posted in Income Tax | 5112 Views

CBDT issues refunds of over Rs. 1,56,624 crores to more than 1.33 crores taxpayers between 1st April 2020 to 27th Dec 2020

30 December 2020 at 13:07

Income tax refunds of Rs. 50,554 crore have been issued in 1,31,11,050 cases & corporate tax refunds of Rs. 1,06,069 crore have been issued in 2,03,334 cases.

Posted in Income Tax | 1470 Views

Income Tax Department clarifies on taxpayers having difficulty in receipt of Aadhaar based OTP

30 December 2020 at 11:34

Several taxpayers and professionals experienced difficulty in the receipt of Aadhaar based OTP on the Income Tax Portal while filing their Income Tax Return. In this regard, the department has issued a clarification.

Posted in Income Tax | 4 comments | 17946 Views

13,65,147 ITRs for AY 2020-21 have been filed on 29th December upto 8 PM

30 December 2020 at 11:34

The Income Tax Department, via their official Twitter Handle has released the daily statistics of Income Tax Returns Filed. Know the statistics for 29th December here.

Posted in Income Tax | 1482 Views

CBIC cautions taxpayers on fake matrimonial alliances

30 December 2020 at 11:34

The Central Board of Indirect Taxes and Customs, via their official Twitter handle, has bewared the taxpayers of Fake Matrimonial Alliances and clarified that the Indian Customs never calls or sends messages for paying duty in a personal bank account.

Posted in Income Tax | 1752 Views

CBIC cautions taxpayers on paying duty in a personal bank account

30 December 2020 at 11:34

CBIC, via their official Twitter handle, has bewared the taxpayers on paying duty in a personal bank account and has clarified that the Indian Customs never calls or sends messages for paying duty in a personal bank account.

Posted in Income Tax | 2160 Views

Income Tax Department conducts searches in Delhi

30 December 2020 at 10:08

The Income Tax Department carried out search and seizure action on a number of hawala operators engaged in the activity of routing and handling unaccounted cash in the Delhi region.

Posted in Income Tax | 1674 Views