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JSON Utility for ITR1 & ITR 4 for AY 2021-22 released by CBDT

The Central Board of Direct Taxes (CBDT) has introduced a new utility named JSON Utility for ITR - 1 and ITR - 4 for Assessment Year 2021-22 and have discontinued the Excel and Java Version of these ITR Utilities. It is said that utility for other ITRs will be enabled in a short span of time. One of the important features is importing of the Prefill file is mandatory in this utility. The description of ITR - 1 and ITR - 4 is given as under -   ITR-1 The ITR - 1 Form i..

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CBDT releases JSON utility for forms ITR-1 and ITR-4 for AY 2021-22

The new ITR 1 and ITR 4 forms for the AY 2021-22 has been released by the CBDT in the JSON utility. Instruction for use of offline utilities Select the Assessment Year Download either excel or Java or JSON utility. The utility by default will get downloaded in your system 'download' folder in a compressed mode (ZIP file) Extract (un-compress) the zip file containing the utilities. The folder will be extracted in the same location where the compressed utility was downloa..

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CBDT makes amendments in Rule 6G vide Income-tax (eighth Amendment) Rules, 2021

MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 1st April, 2021 (INCOME-TAX) G.S.R. 246(E).––In exercise of the powers conferred by section 44AB read with section 295 of the Incometax Act (43 of 1961), the Central Board of Direct Taxes, hereby, makes the following rules further to amend the Income-tax Rules, 1962, namely:-   1. Short title and commencement.– (1) These rules may be called the Income-tax ..

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CBDT expands authorities of Director of Income Tax (Centralized Processing Centre), Bengaluru and Commissioner of Income-Tax (Exemption), Bengaluru

MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 1st April, 2021 INCOME – TAX S.O. 1443(E).—In exercise of the powers conferred by clause (i) of sub-rule (1), sub-rule (5) and sub-rule (6) of rule 2C of the Income tax Rules, 1962 (“the Rules”), sub-rule (1), sub-rule (5) and sub-rule (6) of rule 5CA of the Rules, clause (a) of sub-rule (1), sub-rule (5) and sub-rule (6) of rule 11AA of the Rules and clause (i)..

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CBDT notifies New Income Tax Return Forms for AY 2021-22

The Central Board of Direct Taxes has notified Income Tax Return Forms (ITR Forms) for the Assessment Year 2021-22 vide Notification no.21/2021 in G.S.R. 242(E) dated 31.03.2021. Keeping in view the ongoing crisis due to COVID pandemic and to facilitate the taxpayers, no significant change have been made to the ITR Forms in comparison to the last year’s ITR Forms. Only the bare minimum changes necessitated due to amendments in the Income-tax Act, 1961 have been made. ITR Form 1 (Sahaj) ..

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CBDT issues refunds of more than Rs. 2.62 lakh crore upto 31st March 2021

The Financial Year 2020-21 has been a year full of challenges, both, globally as well as for India due to the COVID-19 pandemic. The Government has, from time to time, come out with several initiatives to mitigate the economic hardship caused to the people due to the effect of the pandemic. To provide immediate relief to the taxpayers, both individuals and business entities, the Government has issued income tax refunds in majority of the pending cases with alacrity. Accordingly, the Central B..

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CBDT | Faceless Appeal (Amendment) Scheme, 2021

MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 31st March, 2021 S.O. 1438(E).—In exercise of the powers conferred by sub-section (6B) of section 250 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby makes the following amendments in the Faceless Appeal Scheme, 2020, namely:  1. Short title and commencement.–– (1) The Scheme may be called the Faceless Appeal (Amendment) Scheme, 2021...

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CBDT issues refunds to more than 2.37 crore taxpayers between 1st April, 2020 to 29th March, 2021

  CBDT issues refunds of over Rs. 2,24,829 crore to more than 2.37 crore taxpayers between 1st April, 2020 to 29th March,2021. Income tax refunds of Rs. 85,012 crore have been issued in 2,33,78,418 cases & corporate tax refunds of Rs. 1,39,817 crore have been issued in 2,85,438 cases ..

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CBDT makes amendments to Rule 2C vide Income-tax (6th Amendment) Rules, 2021

MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 26th March, 2021 INCOME-TAX G.S.R. 212(E).—In exercise of the powers conferred by clauses (i), (ii), (iii) and (iv) of first proviso to clause (23C) of section 10, ninth proviso to clause (23C) of section 10, sub-clauses (i) (ii), (iii), (iv), (v) and (vi) of clause (ac) of sub-section (1) of section 12A, sub-section (3) of section 12AB, first and fifth proviso to sub-section (1)..

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Reporting under clause 30C & 44 of the Tax Audit Report to be kept in abeyance till 31st March 2022

Circular No.05/2021  F. No. 370142/9/2018-TPL Government of India  Ministry of Finance  Department of Revenue  Central Board of Direct Taxes  TPL Division  New Delhi, dated 25th March, 2021  Order under section 119 of the Income-tax Act, 1961    Section 44AB of the Income-tax Act, 1961 (`the Act') read with rule 6G of the Income-tax Rules, 1962 ('the Rules') requires specified persons to furnish the Tax Audit Report alo..

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CBDT issues refunds to more than 2.24 crore taxpayers between 1st April 2020 to 22nd March 2021

  CBDT issues refunds of over Rs. 2,13,823 crore to more than 2.24 crore taxpayers between 1st April,2020 to 22nd March,2021. Income tax refunds of Rs. 79,483 crore have been issued in 2,21,92,812 cases & corporate tax refunds of Rs. 1,34,340 crore have been issued in 2,22,188 cases ..

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CBDT | Clarifications on provisions of the Direct Tax Vivad se Vishwas Act, 2020

F. No. IT(A)/1/2020-TPL Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes Circular No. 04/2021 Dated: 23rd March, 2021 Sub.: Clarifications on provisions of the Direct Tax Vivad se Vishwas Act, 2020 – reg. With the objective to inter alia reduce pending income tax litigation, generate timely revenue for the Government and benefit taxpayers by providing them peace of mind, certainty and savings on account of time and resources tha..

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