The Central Board of Direct Taxes ( CBDT ) in exercise of powers conferred under section 138(1)(a) of Income Tax Act, 1961, has issued Order inF.No. 225/136/2020/ITA.II dated 31.08.2020, for furnishing information about ITR Filing...
The Reserve Bank of India (RBI)has clarified issues regarding the applicability of certain aspects contained in the Gazette notification No. S.O. 2119(E) dated June 26, 2020, on new criteria for classifying the enterprises as micro,...
The Income Tax Appellate Tribunal (ITAT), Delhi Bench has quashed the levy of penalty by Assessing Officer (AO) for not auditing books of accounts/ furnishing reports of the audit of books of accounts on the...
The Income Tax Appellate Tribunal (ITAT), Bangalore Bench held the Assessee, IBM India Pvt. Ltd. liable to pay interest for delay in filing ITR under Section 234B of the Income Tax Act, 1961 on incremental...
The Central Board it Direct Taxes ( CBDT ) has amended the Form 26AS from this year onwards. The new Form 26AS is the faceless hand-holding of the taxpayers to e-file their income tax returns...
The Income Tax Department has facilitated a new functionality for Banks and Post offices through which they can ascertain the TDS applicability rates on cash withdrawal of above Rs.20 lakh in case of a non-filer...
The Reserve Bank of India (RBI) has directed the Banks to initiate necessary Action for the Reclassification of MSMEs. The Government had notified on new criteria for classifying the enterprises as Micro, Small, and Medium...
The EZTax has invited applications from interested Chartered Accountants with a post-experience of 1 to 2 years. The EZTax.in is India’s most Friendly Tax Compliance Company offering Online Software, Apps, & Expert Services. 1) 100%...
The Central Board of Direct Taxes ( CBDT ) has revised Income Tax Return Forms to enable Taxpayers to avail benefits of timeline extension due to COVID-19. In order to enable income taxpayers to avail...
In an advisory issued to the taxpayers, the Central Board of Direct Taxes (CBDT) has asked to be careful with their income tax e-filing account in order to secure the same from any misuse by...
The Central Board of Direct Taxes ( CBDT ) has extended the due date for filing the Tax Audit Reports and Income Tax Returns (ITR) for Jammu & Kashmir till March 31st, 2020. In an...
The Income Tax Departments carried out Search and Seizure action on 6th February 2020 at Hyderabad, Vijaywada, Cuddapah, Vishakhapatnam, Delhi, and Pune. More than 40 premises were covered. The search action included three prominent infrastructure...
The Institute of Chartered Accountants of India ( ICAI ) has joined an association with host books to provide Free Accounting Software for Chartered Accountants and CA Firms. Gurgaon based FinTech Company HostBooks has signed a...
The Finance Minister Nirmala Sitharaman while presenting the union budget for 2020 on Saturday has proposed for a 10% TDS on capital gains from mutual funds along with TDS on dividends for resident individuals who...
The Central Board of Direct Taxes ( CBDT ) has extended the time limit for filing of the response to notices issued under section 142(1) of the Income Tax Act, 1961 under the E-assessment Scheme....
In a Frequently Asked Questions (FAQs) issued by Institute of Chartered Accountants of India ( ICAI ) Unique Document Identification Number (UDIN) said that, Chartered Accountants ( CA ) are not authorised to certify Income...
The Central Board of Direct Taxes ( CBDT ) has agreed to refund the late fee if it is wrongly charged. In a tweet from Income Tax Department’s Official handle said that, “In a few cases,...
The Central Board of Direct Taxes ( CBDT ) has extended due date for filing of Income Tax Returns / Tax Audit Reports to 30th November, 2019 in respect of Union Territory of Jammu and...
The Central Board of Direct Taxes (CBDT) has notified the Income Tax Authorities of Regional e-Assessment Centres. ‘E-Assessment Scheme, 2019’ vide Notification no. 61/2019 & 62/2019, dated 12-09-2019 for the purpose of conducting e-assessments. Any...
The Central Board of Direct Taxes ( CBDT ) has again issued clarifications on filling-up of Return Forms for the Assessment Year 2019-20. The Income Tax Return (ITR) forms for the Assessment Year (AN.) 2019-20...
The Central Board of Direct Taxes (CBDT) has extended the due date for filing of Income tax returns (ITRs) and Tax Audit Reports for audit cases has been extended to October 31 from September 30....
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