Income Tax News

3 people arrested in Gurugram for fraudulent ITC claim of Rs. 5.7 crores

25 July 2019 at 11:44

CGST Commissionerate, Gurugram arrest Three persons for committing offences under CGST Act CGST Commissionerate, Gurugram, Haryana has arrested three persons namely, Sh. Sh. Anil Kumar, S/o Sh. Balwan Singh, R/o VPO Jevra, Tehsil Barwala, Dist.- Hisa

Posted in Income Tax | 2502 Views

Due date for ITR extended to 31st August 2019

23 July 2019 at 19:42

Due date for ITR extended to 31st August 2019

Posted in Income Tax | 32 comments | 48210 Views

ITR-2 and ITR-5 utilities modified to fix bugs

23 July 2019 at 11:55

ITR-2 & ITR-5 utilities are modified to fix bugs identified while filling Schedule FA in ITR-2 (Java utility), Partners information is ITR-5 (Java utility) and Part A-General answer to Investment Fund query in ITR-5 (Excel utility). These bug fix

Posted in Income Tax | 7422 Views

Representation to include Cost Accountant as Accountant under IT Act

22 July 2019 at 11:50

Modification of the term "Accountant" as appearing in the Explanation below sub-section (2) of section 288 of the Income Tax Act, 1961 to include the "Cost Accountant" thereinThe Institute of Cost Accountants of India (ICAI) is a

Posted in Income Tax | 11 comments | 10266 Views

Scrip wise details of entering LTCG is optional in ITR says CBDT

22 July 2019 at 11:50

Schedule 112A and 115AD(1)(iii) of long term capital gain are provided in the Income Tax Return software as per the Instructions to the Notified ITR form and based on taxpayer feedback.Taxpayers have an option to either enter the Scrip wise details o

Posted in Income Tax | 1 comments | 2568 Views

CBDT clarifies no major changes have been introduced in the ITR-2 and ITR-3

17 July 2019 at 12:31

CBDT issues clarification on incorrect reports in social media pertaining to difficulty in filing of Income Tax ReturnsCentral Board of Direct Taxes (CBDT) has said today that no changes have been made in any of the Income-tax Return (ITR) forms incl

Posted in Income Tax | 10 comments | 21612 Views

Download Pre-filled XML available for ITR 1, 2, 3 and 4

13 July 2019 at 11:32

Taxpayers are requested to note the followings in connection with pre-filling of ITRs-1. Pre-filling of ITR is only for the taxpayer's convenience. Taxpayers should verify the pre-filled data carefully and add any other taxable income which is no

Posted in Income Tax | 1 comments | 9480 Views

No proposal to extend IT return date : Govt

10 July 2019 at 11:21

Government has recently changed Form 16 and Form 24 Q to bring more disclosures. In order to enable pre-filling of return of income of salaried taxpayers, the Government has amended Form No. 16 (certificate for tax deduction) and Form No. 24Q (quart

Posted in Income Tax | 1 comments | 36741 Views

Technology changes in Income Tax Department

09 July 2019 at 12:03

The Government is continuously taking several initiatives to enhance the technology back bone of the Income Tax Department (ITD). ITD is having a dedicated directorate called �Directorate of System� which handles the technology aspects of

Posted in Income Tax | 1 comments | 9897 Views

CBDT circular on receipt of shares

02 July 2019 at 12:18

Central Board of Direct Taxes had issued Circular 10/2018 dated 31.12.2018 to clarify that provisions of section 56(2)(viia) of the Income-tax Act, 1961 being anti-abuse provisions shall not be applicable in cases of receipt of shares by the specifie

Posted in Income Tax | 8352 Views