Income Tax News



MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 22nd May, 2019 INCOME-TAX G.S.R. 375(E),-  In exercise of the powers conferred by sub-section (1C) of section 197A read with section 295 of the Income-tax Act, 1961 (43 of 1961),..

Posted in Income Tax |   1176 Views




Section 12A of the Income-tax Act, 1961 (the Act) provides for conditions for applicability of Sections 11 and 12 of the Act. One such condition under  clause (b) of sub-section (1) thereof is that where the total income of the trust or institution computed without giving effect to Section 11&n..

Posted in Income Tax  2 comments |   1993 Views




ITR 1, 2, 3 & 4 for AY 2019-20 is now available for e-Filing. Other ITRs will be available shortly. Form Description Microsoft  Excel Java Instructions ITR 1 For Individuals being a Resident (other than Not Ordinarily Reside..

Posted in Income Tax |   1977 Views




Subject: Procedure, format and standards for issuance of a certificate for tax deducted at source in Part B of Form No 16 in accordance with the provisions of section 203 of the Income-tax Act, 1961 read with the Rule 31 of the Income-tax Rules, 1962 through TRACES - reg.  Section 203 o..

Posted in Income Tax  6 comments |   8528 Views




There have been some incorrect reports in media pertaining to reduction in numbers of Income Tax Returns(ITR) e-filed during Financial Year(F.Y.) 2018-19 as compared to F.Y. 2017-18. This is factually untrue, because the figures for F.Y. 2017-18 and F.Y. 2018-19 are not directly comparable.  ..

Posted in Income Tax |   1344 Views




MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) Notification No. 38/2019 New Delhi, the 3rd May, 2019 G.S.R. 347(E). - In the notification of the Government of India, Ministry of Finance, Department of Revenue (Central Board of Direct taxes), published on the 1..

Posted in Income Tax |   1926 Views




After clocking steep growth rates over the last few years (an average of 25% in the three years to FY18), the number of taxpayers filing income-tax e-returns saw a marginal contraction in FY19.In FY19, only 6.68 crore returns were filed online, 1% lower than 6.74 crore filed in FY18. Though e-return..

Posted in Income Tax  1 comments |   2121 Views




ITR 1 & 4 was made available for e-filing on 9th April 2019. Today, the ITR-2 which is applicable for individuals and HUFs not having income from profits or gains, is now made available for e-filing. These ITRs released for filing the return of FY 2018-19 a.k.a. AY 2019-20. According to th..

Posted in Income Tax  2 comments |   1450 Views




Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes  New Delhi, 25th April, 2019 Income Tax Department continues search action in J&K Region Income Tax Department conducted search and seizure operations at 5 locations in the Kashmir Valley..

Posted in Income Tax  2 comments |   1432 Views



Amendment of Form 16 and Form 24Q

 16 April 2019 at 18:08

MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 12th April, 2019 G.S.R. 304(E).—In exercise of powers conferred by sections 200 and 203 read with section 295 of the Incometax Act, 1961 (43 of 1961), the Central Board of Direct Taxe..

Posted in Income Tax |   3784 Views






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