Income Tax News
CBIC extends the time limit for completion or compliance of any action, by any authority, for anti-profiteering proceedings under Section 171 to 30th/31st March 2021
15 December 2020 at 12:52The Central Board of Indirect Taxes has extended the time limit for completion or compliance of any action, by any authority, for anti-profiteering proceedings under Section 171 to 30th/31st March 2021.
CBIC further makes changes in the notification of the Finance Ministry No. 63/1994-Customs (N.T.) dated the 21st November 1994
12 December 2020 at 10:30CBIC, on 11th December 2020 has further made changes in the notification of the Finance Ministry No. 63/1994-Customs (N.T.) dated the 21st November 1994.
CBDT issues refunds of over Rs. 1,45,619 crores to more than 89.29 lakh taxpayers between 1st April 2020 to 8th December 2020
09 December 2020 at 17:11Income tax refunds of Rs. 43,274 crore have been issued in 87,29,626 cases &corporate tax refunds of Rs. 1,02,345 crore have been issued in 1,99,554 cases
Income Tax Department conducts searches in Odisha
08 December 2020 at 17:47The Income Tax Department has carried out search and seizure operations on 03/12/2020 in the case of a Group involved in the manufacturing and trading of steel products having premises in and around Rourkela, Odisha.
Pay the third installment of your Advance Tax by 15th December 2020
08 December 2020 at 10:24Do your bit in transforming the vision of a brighter tomorrow into a reality. Pay the third installment of your #AdvanceTax on or before 15th December 2020.
Income-tax Deduction from Salaries During the FY 2020-21 under Sec 192 of the IT Act, 1961
05 December 2020 at 10:55The present Circular contains the rates of deduction of income-tax from the payment of income chargeable under the head “Salaries” during the financial year 2020-21.
CBIC issues clarification over Invoice Furnishing Facility with relation to the QRMP Scheme
05 December 2020 at 09:43IFF is an optional facility to be used depending on the needs of the suppliers and their buyers. Taxpayers may file their GSTR-1 for the quarter without filing IFF.
CBDT issues clarifications on the provisions of the Direct Tax Vivad se Vishwas Act 2020
05 December 2020 at 09:43The Central Board of Direct Taxes has issued a clarification on the provisions of the Direct Tax Vivad se Vishwas Act 2020 and has released the 2nd set of FAQs on the Act.
Resumption of physical hearings, on experimental basis, in the ITAT, Mumbai benches, wef Dec 7, 2020
04 December 2020 at 18:02The Income Tax Appellate Tribunal Mumbai benches intend to resume physical functioning, on an experimental basis and in a limited manner, with effect from 7th December 2020.
CBIC issues classes of supply who have to maintain eight digit HSN Code
03 December 2020 at 10:08For the class of supply as specified in column (2) and whose HSN Code as specified in column (3) of the Table given, a registered person shall mention eight number of digits of HSN Codes in a tax invoice issued by him under the said rules.
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