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Income Tax News



MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 24th June, 2020 TAXATION AND OTHER LAWS S.O. 2033(E).– In exercise of the powers conferred by sub-section (1) of section 3 of the Taxation and Other Laws (Relaxation of Certain Pr..

Posted in Income Tax  2 comments |   8853 Views



Shri Ajit Kumar, Chairman, Central Board of Indirect Taxes and Customs (CBIC) here yesterday unveiled a Secure QR coded Shipping Bill that would be electronically sent to exporters after the Customs allows export. This eliminates in one stroke the requirement of the exporters having to approach the ..

Posted in Income Tax |   291 Views



Growth Trajectory of Direct Tax Collection & Recent Direct Tax Reforms There are reports in a certain section of media that the growth of direct taxes collection for the FY 2019-20 has fallen drastically and buoyancy of the direct tax collection as compared to the GDP growth has reached negat..

Posted in Income Tax  1 comments |   1050 Views



The Central Board of Direct Taxes notified the new Income Tax Return Forms(ITR 1 to ITR 7) for AY 2020-21 on the 30th of May 2020. The new ITR Forms gave various relaxations to the taxpayers- Passport Details are not mandatory to be given, ITR filing has been made easy for people with joint house ow..

Posted in Income Tax |   1471 Views



The Central Board of Direct Taxes notified the new Income Tax Return Forms(ITR 1 to ITR 7) for AY 2020-21 on the 30th of May 2020. The new ITR Forms gave various relaxations to the taxpayers- Passport Details are not mandatory to be given, ITR filing has been made easy for people with joint house ow..

Posted in Income Tax |   4141 Views


ITR Forms for AY 2020-21 notified

 31 May 2020 at 10:31

MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 29th May, 2020 INCOME-TAX G.S.R. 338(E).- In exercise of the powers conferred by section 139 read with section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Tax..

Posted in Income Tax  3 comments |   9350 Views



MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 27th May, 2020 INCOME-TAX G.S.R.315(E).- In exercise of the powers conferred by section 295 read with clause (m) of sub-section (3) of section 9A of the Income-tax Act, 1961 (43 of 1961), ..

Posted in Income Tax |   884 Views


CBDT notifies revised form 26AS

 29 May 2020 at 09:34

MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 28th May, 2020 INCOME-TAX G.S.R. 329(E). In exercise of the powers conferred by section 285BB read with section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Ta..

Posted in Income Tax  3 comments |   8268 Views



In line with the announcement made in the Union Budget, Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman formally launched the facility for instant allotment of PAN (on near to real time basis) here today. This facility is now available for those PAN applicants who posses..

Posted in Income Tax  1 comments |   466 Views



Refunds amounting to Rs. 26,242 crore issued since 1st April, 2020 Central Board of Direct Taxes (CBDT) has issued tax refunds worth Rs. 26,242 crore to 16,84,298 assessees since 1st April, 2020 to 21st May, 2020. Income Tax refunds amounting to Rs. 14,632 crore have been issued to 15,81,906 a..

Posted in Income Tax  2 comments |   961 Views


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