Income Tax News
More than 16 lakh refund claim pending till January end
13 February 2019 at 15:05The level of income-tax compliance has continuously increased over the last three Financial Years, which is reflected in the number of Income-Tax Returns filed over this period, as given hereunder: - S.No. Financial Year Total
Effect of Angel Tax on Indian Startup Ecosystem
08 February 2019 at 13:23The Government of India has continuously engaged with all stakeholders to address relevant issues related to the Indian Startup eco-system.The Department for Promotion of Industry and Internal Trade (DPIIT) issued notification in April 2018 for easin
Cabinet approves abolition of Income-Tax and Indirect Tax Ombudsman
07 February 2019 at 11:02The Union Cabinet chaired by Prime Minister Narendra Modi has approved the proposal for Abolition of Institution of Income-Tax Ombudsman and Indirect Tax Ombudsman. The approval comes in the wake of alternative complaint redressal mechanisms chosen
CBDT directs non filers to file return in 21 days for AY 2018-19
23 January 2019 at 11:13CBDT identifies non-filers through Non-filers Monitoring System (NMS) by using Data Analytics and request the Non-filers to assess their tax liability for AY 2018-19 and file the Income Tax Returns (ITR) or submit online response within 21 daysThe No
CBDT clarifies TDS notices issued only in big cases
23 January 2019 at 11:12The Central Board of Direct Taxes (CBDT) has stated that certain news items that appeared in a section of media regarding enmasse issue of prosecution notices to small companies for TDS default are completely misleading and full of factual inaccuraci
Cabinet approves integrated E-filing and CPC 2.0 Project
17 January 2019 at 11:26Cabinet approves expenditure sanction for Integrated E-filing and Centralized Processing Centre 2.0 Project The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi, has given its approval to expenditure sanction of Rs.4,241.97crore for In
FICCI recommends increasing top 30% tax slabs to income above 20 lac
16 January 2019 at 11:20FICCI in its Pre-Budget recommendations for 2019-20 has suggested reduction in the corporate tax rate across the board to 25% (irrespective of turnover) to spur economic growth and increase overall tax collections. The cha
Direct tax collection grows to 8.74 lac crore in 2018-19
07 January 2019 at 16:48In the recent press release issued by the Government, they have stated a whopping increase of 14.1% in the direct tax collection in the FY 2018-19, where the total collection amounted to Rs. 8.74 lakh crores!A net of 1.30 lakh crores of refunds were
Circular issued on TDS deduction from salaries in FY 2018-19
03 January 2019 at 11:09DEDUCTION OF TAX AT SOURCE INCOME-TAX DEDUCTION FROM SALARIESUNDER SECTION 192 OF THE INCOME-TAX ACT, 1961DURING THE FINANCIAL YEAR 2018-19CIRCULAR NO 01 /2019F.No. 275/192/2018-IT(B)Government of IndiaMinistry of FinanceDepartment of RevenueCentral
Task force created to review Direct Tax legislation
19 December 2018 at 11:25The Government had constituted a Task Force to draft a New Direct Tax Law vide Officer Order in F.No. 370149/230/2017 dated 22.11.2017 under the Convenorship of Shri Arbind Modi, the then Member (Legislation), CBDT with original term of six months fo
Popular News
- Tax Audit Extension Demand to 31st Oct 2026 Amid GST Relief and Court Rulings
- Central Excise Duty Revised to Rs 2.5 and Rs 8.5 Per Litre from 16th October 2026
- ICAI Issues New Tender Guidelines for Practising CAs, Bars Bids Without Minimum Fees
- CBDT Revises Form 161 for Penalty Waiver Applications Under Income Tax Act 2025
- TDS Challan for FY 2025-26 Valid for TY 2026-27 Under Cross-Year Utilisation Rules
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
