New Form 26AS is faceless hand-holding of taxpayers, says CBDT
The changes in the new Form 26AS would also bring in further transparency and accountability in the tax administration.
Jul 18, 2020, 16:07 PM IST
CBDT refunds Rs 71,229 crore so far to help taxpayers during COVID-19
The CBDT has issued refunds worth Rs 71,229 crore in more than 21.24 lakh cases up to 11th July 2020, to help taxpayers with liquidity in Covid-19 pandemic days.
Jul 18, 2020, 01:38 AM IST
CBDT allows banks, post offices to ascertain TDS applicability rates on cash withdrawals
CBDT said that now the Bank or Post Office has to only enter the PAN of the person who is withdrawing cash for ascertaining the applicable rate of TDS.
Jul 13, 2020, 13:49 PM IST
CBDT, SEBI reach understanding on data exchange on automatic, regular basis
The understanding will facilitate the sharing of data and information between SEBI and CBDT on an automatic and regular basis. The MoU marks the beginning of a new era of cooperation and synergy between SEBI and CBDT.
Jul 08, 2020, 19:35 PM IST
COVID-19 relief: CBDT extends time for filing of original, revised income-tax returns
The Central Board of Direct Taxes (CBDT) on Wednesday (June 24) issued a notification to provide further relief to taxpayers by extending the time limit. A finance ministry statement said that extension has been done in reference to the Taxation and Other Laws (Relaxation of Certain Provisions) Ordinance, 2020 brought by the government on March 31.
Jun 24, 2020, 22:28 PM IST
After extending deadline to file income tax return, CBDT revises ITR forms to help taxpayers
The Central Bureau of Direct Taxes (CBDT) has revised the return forms for financial year 2019-20 (Assessment Year 2020-21), in order to enable income taxpayers to avail full benefits of various timeline extensions granted by the government due to coronavirus COVID-19 pandemic.
Apr 19, 2020, 16:52 PM IST
Income Tax refunds of Rs 4,250 cr issued in a week, says CBDT
CBDT further said that about 1.75 lakh more refunds are in the process of issuance this week, adding "These refunds will get credited directly to the taxpayer bank account in five to seven business days from issuance."
Apr 15, 2020, 20:05 PM IST
TDS deduction: Employees should inform employers about intention to opt new tax regime, says CBDT
CBDT said an employee intending to opt for concessional rates of income tax as provided in the Budget 2020 may intimate the deductor or his employer of such intention.
Apr 14, 2020, 00:40 AM IST
Incriminating evidence seized from residence, premises of Chandrababu Naidu's former private secretary
The Central Board of Direct Taxes on Thursday announced the seizure of "incriminating evidence" from the residence and other premises of former Andhra Pradesh Chief Minister N Chandrababu Naidu's ex-private secretary Pendyala Srinivasa Rao.
Feb 14, 2020, 11:09 AM IST
ITR filing: CBDT extends date till January 31 in Jammu & Kashmir, Ladakh
The region, especially Kashmir, yet to witness seamless internet connectivity after the Centre`s decision to revoke the provisions of Article 370 on August, which gave a special status to the erstwhile state.
Dec 24, 2019, 22:42 PM IST
CBDT extends deadline for filing of ITRs and TARs for special cases requiring audits till October 31
The due date has been extended by the CBDT in respect of persons whose accounts are required to be audited.
Sep 26, 2019, 23:11 PM IST
Aadhaar holders to automatically receive PAN from I-T Dept
CBDT said that I-T department will obtain demographic information of an individual from the Unique Identification Authority of India (UIDAI) for allotment of PAN.
Sep 02, 2019, 16:31 PM IST
Era of Swiss bank secrecy over, India to get details of bank account holders from September
The development is a major success of the Narendra Modi government`s fight against black money ever since it first came to power in 2014.
Sep 01, 2019, 06:20 AM IST
CBDT chief PC Mody gets 1-year extension
A 1981-batch Indian Revenue Service (IRS) officer, Mody had taken charge of the top job in February succeeding Sushil Chandra.
Aug 29, 2019, 13:21 PM IST
CBDT refutes reports on differential regime between domestic investors and FPIs
The government has decided to withdraw the enhanced surcharge levied by Finance (No. 2) Act, 2019 on long/ short term capital gains arising from transfer of equity shares/units referred in section 111A and 112 A respectively.
Aug 28, 2019, 11:50 AM IST
Small start-ups with turnover upto Rs 25 crore will continue to get tax holiday, clarifies CBDT
The Section 80-IAC of the Income Tax Act, 1961 provides deduction for 100 percent of income of an eligible start-up for 3 years out of 7 years from the year of its incorporation.
Aug 23, 2019, 11:43 AM IST
CBDT refuses reports about Income Tax notices to Durga Puja Committees
The CBDT added that based on information that several contractors who were doing work for the committees were not paying due taxes, notices were issued in December, 2018 to about 30 committees, calling for details of tax deducted at source on payments made to contractors and event managers etc. engaged by the committees for the Puja events, including the TDS statement.
Aug 13, 2019, 23:56 PM IST
Income Tax department busts inter-state tax theft worth Rs 700 crore
As many as 55 places were raided by the Income Tax department in Tamil Nadu, including Chennai, Coimbatore, Thanjavur, etc and also in Kerala, Andhra Pradesh and Goa.
Aug 11, 2019, 12:05 PM IST
CBDT issues 19 FAQs on ITR forms for Assessment Year 2019-20
The Income-tax return (ITR) forms for the Assessment Year 2019-20 were notified on April 01.
Aug 09, 2019, 13:08 PM IST
CBDT enhances monetary limits for filing of appeals by Income Tax Department
CBDT said that there is a substantial pendency of appeals of the Income Tax Department before various appellate fora, adding that it is aware of the importance of litigation management and has been continuously working towards achieving the same.
Aug 09, 2019, 12:47 PM IST
