Cost Inflation Index for FY 2021-22 is 317
CBDT has notified the Cost Inflation Index for FY 2021-22 vide Notification no. 73/2021 which is 317. To view and download the Notification, click here...
Category : Income Tax
CBDT relaxes filing of Form 15CA / CB
As per the Income-tax Act, 1961, there is a requirement to furnish Form 15CA/15CB electronically. Presently, taxpayers upload the Form 15CA, along with the Chartered...
Guidelines for compulsory selection of Returns for complete scrutiny for FY 2021-22
The CBDT has issued the Guidelines for compulsory selection of returns for complete scrutiny for FY 2021-22. The cases which are to be selected for...
CBDT notifies New TDS rules to amend Rule 31A
The Central Board of Direct Taxes (CBDT) has notified the changes in Rule 31A and updated the annexures of Form 26Q, 27EQ, 27Q on 8-6-21...
Various Income Tax Dates extended due to severe pandemic
The Central Board of Direct Taxes, on 20th May 2021, vide Circular No. 09/2021 has extended the time limits of various compliances which are as...
EXTENSIONS OF DUE DATES UNDER INCOME TAX
Vide Circular No. 8/2021 dated 1st May 2021, the Income tax department has extended the various due dates which are falling due on either 1st...
CBDT notifies changes in Tax Audit Report for AY 2021-22
The Central Board of Direct Taxes (CBDT) has notified the following changes in the Form 3CD and inserted a sub rule which are as follows:-...
SECTION 194P – Deduction of Tax in case of certain Senior Citizens
In the Finance Act 2021, a new section 194P has been inserted which deals with the deduction of tax in case of certain senior citizens....
CBDT releases JSON utility for ITR 1 and ITR 4 for AY 2021-22
CBDT has released the JSON utility for ITR 1 and ITR 4 instead of java and excel utility. It is pertinent to note that the...
CBDT notifies ITR forms for AY 2021-22
CBDT has notified the ITR forms for AY 2021-21 i.e. from ITR 1 to ITR 7. As per the tweet from the Income Tax India,...
The President of India assented the Finance Act 2021
The President of India has assented the Finance Act 2021 on 28th March 2021. To view and download the Finance Act 2021, click here Finance...
CBDT notifies/amends certain rules and forms in relation to the Registration or approval of Trusts
The CBDT, on 26th March 2021, has notified the changes in the procedure for the following:- a. Application for the purpose of grant of approval...
Lok Sabha passes the Finance Bill 2021
The Lok Sabha, on 23rd March 2021, passed the Finance Bill 2021. To view and download the passed Bill, click here Finance Bill 2021 passed...
Notification of Amended Form 12BA – Statement showing particulars of perquisites
CBDT has amended the Form 12BA vide Notification No. 15 of 2021. The new form shall be effective with effect from 01-04-2021. To view and...
CBDT notifies Pre-fill of Capital gain, Dividend Income and Interest Income in the Income Tax Returns
The CBDT has notified the requirement for the persons specified in the Notification to provide the information relating to the Capital Gain, Dividend income and...
Extension of Condonation Scheme to regularize UDINs
The Institute of Chartered Accountants of India (ICAI) has extended the condonation scheme for generating UDIN on 12th March 2021 till 31st March 2021. According...
Instructions regarding selection of cases for issue of notice u/s. 148 of the Income tax act
The Central Board of Direct Taxes (CBDT) has issued the instruction dated 4th March 2021 with an objective of streamlining the process of selection of...
Circular No. 2 of 2021 – Residential status of certain individuals under Income tax act 1961
The Central Board of Direct Taxes (CBDT) has issued the Cirucular No. 02/2021 clarifying the Residential status of the Individuals who has come to India...
Amendments related to Section 44AB proposed in Finance Bill 2021
In the Finance Bill 2021, the provisions related to Section 44AB i.e. provisions related to Tax Audit has been rationalised in order to incentivise the...
Extension of Time limits for various returns falling due on 31st December 2020
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...
CBDT to validate Unique Document Identification Number (UDIN) generated from ICAI portal at the time of upload of Tax Audit Reports
The Institute of Chartered Accountants of India, in its gazette notification dated 2nd August, 2019, had made generation of UDIN from ICAI website www.icai.org mandatory for every kind...
Dates under Vivad se Vishwas Act extended
The Central Board of Direct Taxes has extended the following dates of the Direct Tax Vivad se Vishwas Act 2020 vide Notification No. 85/2020 dated...
Extension of various due dates falling on 31st October 2020
The Ministry of Finance has extended various due dates falling on 31st October which are as follows:- Particulars Extended due date Tax Audit Report –...
Extension of due date for filing Income tax return for AY 2019-20
The CBDT has issued the Notification No. 56/2020 in which it has been notified that the due date for filing the Income tax return for...
One Time Verification Process of ITR V
Introduction In respect of an Income Tax Return filed electronically without a digital signature, the taxpayer is required to verify the same within the time...
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