The Income Tax Department carried out search and seizure actions on 22/10/2020 on a group of three assessees, based in Srinagar. Searches were conducted at 15 residential and business premises, out of which 14 were...
The Income Tax Department notifies ‘Form 3CD Schema Changes’ under e-Filing Project released New Tax Audit utility, Schema Version 1.21. Form 3CD consists of the statement of particulars required to be furnished under section 44AB...
The Delhi High Court has issued notice on a petition challenging the Faceless Income Tax Appeal Scheme, 2020. The government launched ‘Faceless Income Tax Appeal’ with the objective to ease compliance and reduce physical interface...
The Income Tax Department has carried out a search and seizure action on 14.10.2020 in the case of a leading advocate practicing in the field of commercial arbitration and alternate dispute resolution. He was suspected...
The Income Tax Department, on the basis of actionable intelligence received, conducted searches and seizure actions on 06-10-2020 in Patna, Sasaram, and Varanasi in the case of a person, who is in the business of...
The Central Board of Direct Taxes (CBDT) authorized the Assistant Commissioner/Deputy Commissioner of Income-tax (National e-Assessment Centre, NEAC) for the purpose of issuance of notice under sub-section (2) of section 143 of the Income Tax...
The Income Tax Department has carried out search and survey operations on 25th September, 2020 at around 20 residential and business premises of a prominent group having operations in Jharkhand and West Bengal. The group...
The Comptroller and Auditor General (CAG) in its report recommended the Central Board of Direct Taxes (CBDT) put in place a mechanism so as to ensure that Appraisal Report along with seized material be handed...
The Income Tax Department has allowed the One-time relaxation for Verification of Income-tax Returns by EVC/ITR-V for Assessment Years 2015-16, 2016-17, 2017-18, 2018-19. Electronic Verification Code (EVC) is a 10 digit alphanumeric code that can be generated...
The Income Tax Department carried out a search and seizure operation on a prominent Hotelier, owning a chain of Hotels at Srinagar, Gulmarg, Sonamarg, and Pahalgam with another hotel under construction at Leh. Various incriminating...
The Supreme Court has recommended the Central Government to consider the efficacy of the advance tax ruling system and make it more comprehensive as a tool for settlement of disputes rather than battling it through...
The Income Tax Department has carried out simultaneous search and seizure operations on 2nd September, 2020 in the case of three prominent businessmen in Srinagar and Kupwara. These operations have, prima facie, led to the...
The Income Tax Department carried out a search and seizure operation on 20.08.2020 at various locations in Bhopal. The key person of one of the groups covered used to run a bangles shop. Another person...
The Government led by Prime Minister, Narendra Modi, while fulfilling a budget commitment has unveiled the Taxpayers’ charter, which spells out the Income Tax department’s commitments to taxpayers as well as expectations from them. Launching...
The Income Tax Department, after a gap of three months, will once again start sending communications to assessees facing investigation or proceedings under the Income Tax Act, black money, or Benami property violations. On May...
The Central Board of Direct Taxes (CBDT) on Thursday revised the ‘E-assessment Scheme, 2019’ notified on September 12, 2019. The Government notified that Now, the e-assessment scheme shall be called Faceless Assessment. Now, the National...
Prime Minister Narendra Modi will launch the platform for “Transparent Taxation – Honoring the Honest” via video conferencing on the 13th of August 2020. The CBDT has carried out several major tax reforms indirect taxes in...
Senior Indian Revenue Service officer Shri. Patanjali has assumed charge as Principal Chief Commissioner of Income Tax, Mumbai today, 10th August 2020. Prior to this, he was holding the post of Director General of Income Tax...
The Jaipur bench of the Income Tax Appellate Tribunal (ITAT) has held that the addition cannot be made against an individual member of the family agrees that the gold in possession belongs to them. The...
3,130 tax personnel, including 600 IT officers are busy implementing the Faceless e-Assessment scheme of Income Tax. Out of 58,319 cases selected for faceless assessment, already 8,700 cases have been disposed off. The scheme, first...
The Central Board of Direct Taxes (CBDT) on Thursday notified the Competition Commission of India (CCI) to disclose information to the Income Tax Department under section 138 of the Income-tax Act, 1961. The notification clarified...
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