After rejecting “ill-conceived” suggestions by a group of Indian Revenue Services (IRS) officers, the Central Board of Direct Taxes (CBDT) directed officials not to keep any communication with assessees or issue scrutiny notices to them without the board’s approval. “On further consideration of genuine difficulties being faced by taxpayers due to the Covid-19 situation, CBDT further extends the due date … PTI New Delhi Published on: … Here we have provided complete notifications related to the Income Tax and TDS provisions as per the official government laws. ... the Income Tax Department has said. conducts search action on a leading builders and entry operators in Pune 16 Dec 2020 ; CBDT Press Release: Tax Dept. For breaking news and live news updates, like us on Facebook or follow us on Twitter and Instagram. MONEY. The Central Board of Direct Taxes ( CBDT ) has extended the due date of furnishing of Income Tax Returns and Audit Reports 31st January, 2021.. The binding effect of the Circulars was recognized by the Supreme Court in UCO BANK vs. COMMISSIONER OF INCOME TAX (1999) 154 CTR 0088 : (1999) 237 ITR 0889 : (1999) 104 TAXMAN 0547. In view of the challenges faced by taxpayers in meeting the statutory and regulatory compliances due to the outbreak of COVID-19, the Government brought the Taxation and Other Laws (Relaxation of Certain Provisions) Ordinance, 2020 (‘the … 4. G.S.R. We include all the latest updates in Income Tax and TDS, news, amendments, and circulars as on the government portal for your reference. CBDT had on July 29 extended the deadline for filing income tax returns for 2018-19 fiscal and revised ITRs from 31st July, 2020 to 30th September, 2020. 71,229 crore have been issued by CBDT in more than 21.24 lakh cases up to 11th July 2020. Read more about CBDT notifies income tax returns forms for 2019-20: Find all the details on Business Standard. The Central Board of Direct Taxes (CBDT) has announced extension for the due date for filing of Income tax returns by tax payers whose accounts are required to be audited under the Income Tax … Due date for furnishing of Income Tax Returns for the taxpayers who are required to furnish report in respect of international/specified domestic transactions: Due date is 31.01.2021. Tax refunds worth Rs 1.06 trn issued to 3.09 mn taxpayers till Sep 15: CBDT CBDT deploys two-third of its workforce for faceless assessment scheme IT refunds worth … The CBDT has announced extension for the due date for filing of Income tax returns. 2. It’s a good piece of news for Income Tax return filers as they have now got time till 30 September to rectify incomplete tax returns of last five years. More Under Income Tax Take appropriate decision on extension of due date of filing ITR & TAR by 12.01.2021: Gujarat HC to CBDT What if you do not file your … CBDT Income Tax Notifications 2020 (No./ Date/ Description) 88/2020 dt. CBDT issues clarifications on new TDS/TCS norms applicable from October 1 onward Three new provisions pertaining to tax collected at source have been brought in via the Finance Act 2020. This circular mainly provides guidance for scrutiny of those cases that will not be covered under the recently notified e-assessment scheme. The dept has revised the I-T return forms for the financial year 2019-20 to allow assessees to avail benefits of various timeline extension granted by … Explore more on Cbdt. Due date for furnishing of Income Tax Returns for any other taxpayers other than mentioned above i.e. A total of 1,46,812 ITRs have been filed up to 12 pm on Sunday,” CBDT … to Complete Tax Refund by 31st August 2020. 415(E).-In exercise of the powers conferred by sub-section (2) of section 115BAC read with section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules,1962, namely:- 225/ 150/2020-ITA-II Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes North Block, … Home. normal tax payer: Due date is 31.12.2020. Topics: CBDT Income Tax … The new deadline is 31 October (iStockphoto) CBDT gives one more month to file returns of income tax cases that need audit 1 min read. INCOME-TAX. Get more Personal Finance News and Business News on Zee Business. Stock Market. Must Read. The Central Board of Direct Taxes (CBDT) has further extended the deadline for income tax returns filing from September 30 to November 30. The Central Board of Direct Taxes has issued comprehensive circular on conduct of assessment proceedings through ‘E-proceeding’ facility during financial year 2019-20. Topics: Black Money Act CBDT Faceless Income Tax faceless tax system Income tax Dept Tax evasion Tax Returns Published Date: September 25, 2020 4:36 PM IST Updated Date: September 25, 2020 4:53 PM IST Latest CBDT Circular October 2020 regarding the Income Tax Returns for the Assessment Year 2019-20 PDF Download F. No. Updated: 26 Sep 2019, 11:37 PM IST Staff Writer. Click here to join our channel and stay updated with the latest Biz news and updates. However, after getting several representations, CBDT has clarified that the disclosure of script wise details in the income tax returns are required […] Re-notification of ITR Forms needed after CBDT clarification on Schedule 112A – Latest News Headlines l Politics, Cricket, Finance, Technology, Celebrity, Business & Gadgets ... LATEST. conducts search action on a Chandigarh based listed pharmaceutical Co. 17 Dec 2020 CBDT Press Release: Tax Dept. The CBDT has the power to issue circulars under section 119 of the Income-tax Act. 3. Read more on Latest Business News on India.com . This is to help taxpayers with liquidity in COVID days. “More than 4.15 crore Income Tax Returns for AY 2020-21 have already been filed till 26th of December, 2020. 17.07.2020: The Refunds worth Rs. 29/10/2020: CBDT notifies further extension of ITR/ TAR/ TPR filing due dates for AY 2020-21, in line with Press Release dt. New Delhi: The last date for filing of income tax return (ITR) for the assessment year 2019-20 (FY 2018-19) has been further extended from September 30 to November 30, 2020.The Central Board of Direct Taxes (CBDT) made the announcement on Wednesday. 24th Oct. 2020.: 85/2020 dt. The … ETCFO.com brings latest cbdt news, views and updates from all top sources for the Indian CFO industry. Interest rates of Small Savings Schemes for 4th quarter of FY 2020-21 remain unchanged 31 Dec 2020 ; CBDT Press Release: Tax Dept. Live … New Delhi: Taxpayers are likely to receive an income tax notice, in case of a discrepancy in the income tax amount calculated and paid by you while filing your income tax return (ITR) and that computed by the income tax department. The Income Tax Department carried out search and survey action on a leading builders and entry operators in the Panvel region of Pune. 27/10/2020: Date for payment without additional amount extended under the Direct Tax Vivad se Vishwas Act 2020 from 31st December, 2020 to 31st March, 2021. Income tax CBDT circular comes as relief for minor offences. The Central Board of Direct Taxes (CBDT) has notified new Income Tax Return forms for the Assessment Year 2020-21 or the financial year 2019-20. Income Tax : Gujarat High Court directs CBDT to extend Due dates by 12th jan. All Gujarat Federation of Tax Consultants Vs Union of India (Gujarat High Court): Petition was filed in Gujarat High Court for extension of Income Tax return and Audit of FY 2019-20. The Central Board of Direct Taxes (CBDT) on Friday launched the Centre's much-publicised reform measure of faceless income tax appeals. Income Dept. In view of the tepid collections proving to be a challenge in meeting tax revenue goals, the CBDT Chairman has written to Principal Chief Commissioners of Income Tax. Find Cbdt Latest News, Videos & Pictures on Cbdt and see latest updates, news, information from NDTV.COM. Advertisement . Introduce of Income Tax Income Tax Is the tax levied by the […] New Delhi, the 26th June, 2020. The circulars issued are binding on all income-tax authorities.