CBDT

FAQs on Section 269ST in light of recent CBDT notification dated 07.05.2021

Income Tax - Section 269ST relaxations announced in Covid 2.0 times especially for payment of medical bills of INR 2 lacs or more; vide Notification No. 56/2021-Income Tax Dated: 7th May, 2021 for a period of 2 months. Penalty on receipt of an amount of Rs. 2 lakh or more in cash Section 269ST (as inserted by the […]...

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ITR for FY 2019-20 Can Now Be Filed Till 31st May 2021

Income Tax - Extended Deadline for Tax Compliance Is a Huge Relief for the Taxpayers, ITR for FY 2019-20 Can Now Be Filed Till 31 May Amid a surge in Covid-19 cases and a nationwide lockdown, the government on Saturday has announced to extend the timelines for various income tax compliance to 31 May, including late return filing […]...

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CBDT notifies Threshold for Significant Economic Presence

Income Tax - Section 9(1)(i) of the Income Tax Act, 1961 was amended vide Finance Act 2018 to bring in the concept of “Significant Economic Presence” (‘SEP’) for establishing a business connection in India of a non-resident. According to the said Section, “significant economic presence” for this purpose shall mean: “transaction i...

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e-Campaign for High Value Transactions in Compliance Portal

Income Tax - Introduction The income-tax department has started to reach out to certain taxpayers who have either not filed income-tax returns (ITR) or failed to accurately report high-value transactions in their returns. Objective of the e-campaign is to facilitate taxpayers to validate their financial transaction information against information avai...

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CBDT defers reporting in Clause 30C & 44 of Tax Audit Report till 31.03.2022

Income Tax - Tax Audit Report (Form 3CD- Applicability of Clause 30C and Clause 44 by one more year i.e. will be applicable for the Financials year 2022-23 Now. Central Board of Direct Taxes (CBDT) has issued Circular No. 05/2021 dated March 25, 2021 by which the CBDT has deferred the applicability of certain Clause of Form 3CD […]...

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CBDT allows time till 31st December, 2020 to update UDIN

Income Tax - A One time relaxation to update UDIN has been enabled. Kindly update the UDIN before 31st December, 2020 of audit report/certificates to avoid invalidation. Source- Message on https://www.incometaxindiaefiling.gov.in/ Also Read- CBDT issues FAQs on UDIN...

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CBDT issues FAQs on UDIN

Income Tax - Q.1 What is Unique Document Identification Number (UDIN)? The Institute of Chartered Accountants of India, on noticing about the fake certifications by Non-CAs misrepresenting themselves as Chartered Accountants which misled the authorities and stakeholders, pioneered in conceptualizing a unique concept which is called “Unique Docum...

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Income Tax Department conducts searches in Odisha

Income Tax - The Income Tax Department has carried out search and seizure operations on 03/12/2020 in the case of a Group involved in the manufacturing and trading of steel products having premises in and around Rourkela, Odisha. The Group entities were booking bogus purchases of around Rs. 170 crore for two financial years in the name of 17 bogus ent...

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PM launches platform for ‘Transparent Taxation – Honoring the Honest’

Income Tax - The CBDT  has carried out several major tax reforms in direct taxes in the recent years.   Last year the Corporate Tax rates were reduced from 30 percent to 22 percent and for new manufacturing units the rates were reduced to 15 percent. Dividend distribution Tax was also abolished....

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वित्त वर्ष 2018-19 के लिए आयकर के स्वैच्छिक अनुपालन पर ई-अभियान

Income Tax - वित्त वर्ष 2018-19 के लिए आयकर के स्वैच्छिक अनुपालन पर ई-अभियान शुरू करने के लिए सीबीडीटी 20 जुलाई, 2020 से आयकर विभाग की नई पहल 20 जुलाई, 2020 से ...

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CBDT cannot extend time to claim deduction under section 54F

Shivinder Singh Brar, Karta (HUF) Vs. CBDT (Punjab and Haryana High Court) - Where assessee was precluded from construction of new house due to prohibition of construction in his area then assessee could seek relaxation in terms of section 119(2)(c) at time of claiming deduction under section 54F and such claim could be made only within time period, as prescribed under Act f...

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CBDT to Provide informations related to revamp of Income Tax e-filing Website

[a] Copies of all Records Received/Issued for Revamping the Website of Income-Tax Deptt. that relates to Tax Policy & Legislation Division of CBDT in particular (Because to implement the action in question amendment in statute is required to establish due compliance)....

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CBDT to provide details of No. of Tax Audit & Auditors to RTI Applicant

CBDT has provided Tax Audit Data to ICAI based on the returns e-filed during the financial year 2010-11. This has been published in one of the leading Private Website for CAs on 16th day of November 2011. ...

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TDS on Hotel Room Rent & Other Facilities?

The East India Hotels Ltd Vs Central Board of Direct Taxes (Bombay High Court) - TDS on the charges you pay to a Barber? The word ‘carrying out any work’ in section 194C is limited to any work which on being carried out culminates into a product or result. The word ‘work’ in s.194C is limited to doing something with a view to achieving the task undertaken or carry out an...

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Clarification on PAN encrypted Digital Signature Certificate (DSC)

The Central Board of Direct Taxes (CBDT) had recently amended the Rules relating to the manner of furnishing the return of income for companies for Assessment Year 2010-11 and onwards. Under the revised Rules, all companies (including foreign compani...

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CBDT notifies special court for Tripura under Black Money Act

Notification No. 61/2021-CBDT [S.O. 1843(E).] - (11/05/2021) - Central Government, in consultation with the Chief Justice of the High Court of Tripura, hereby designates the Court of the Additional Chief Judicial Magistrate, West Tripura as the Special Court for the State of Tripura for the purposes of section 84 of the Black Money (Undisclosed Foreign Income a...

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CBDT issues corrigendum to notification related to Cash payment to hospital

Notification No. 59/2021-Income Tax [S.O. 1839(E)] - (10/05/2021) - CBDT issues Corrigendum to Notification No. 56/2021-Income Tax Dated: 7th May, 2021 and  stated that word ‘payee ‘to be read as payer. Notification No. 59/2021-Income Tax Dated: 10th May, 2021  MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) CORRIGENDUM New ...

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Notification No. 58/2021-Income Tax, Dated: 10.05.2021

Notification No. 58/2021-Income Tax [S.O. 1841(E)] - (10/05/2021) - CBDT amends Notification No. 35/2021-Income Tax dated the 22nd April, 2021 and stated that the word ‘Canada Pension Plan Investment Board Private Holdings (4) Inc.’ should be read as ‘CPP Investment Board Private Holdings (4) Inc.’  Notification No. 58/2021-Income Tax Dated:...

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Notification No. 57/2021-Income Tax, Dated: 10.05.2021

Notification No. 57/2021-Income Tax [S.O. 1838(E)] - (10/05/2021) - CBDT amends Notification No. 54/2021-Income Tax dated the 5th May, 2021 and stated that the word ‘Stretford Investment Pte. Ltd.’ should be read as ‘Stretford End Investment Pte. Ltd.’  Notification No. 57/2021-Income Tax Dated: 10th May, 2021. MINISTRY OF FINANCE (Departmen...

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Promotion of 3 officers to Pr.CCIT grade | Order No. 84 of 2021

Office Order No. 84 of 2021 - (30/03/2021) - Office Order No. 84 of 2021 Consequent upon approval of the Competent Authority, the following officers are, hereby, promoted to the grade of Principal Chief Commissioner of Income Tax (Pr. CCIT) (level 17 in the pay matrix Rs. 2,25,000/-) for the panel year 2021 on in-situ basis w.e.f. 01.04.2021 o...

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Recent Posts in "CBDT"

CBDT notifies special court for Tripura under Black Money Act

Notification No. 61/2021-CBDT [S.O. 1843(E).] 11/05/2021

Central Government, in consultation with the Chief Justice of the High Court of Tripura, hereby designates the Court of the Additional Chief Judicial Magistrate, West Tripura as the Special Court for the State of Tripura for the purposes of section 84 of the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, [&...

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CBDT issues corrigendum to notification related to Cash payment to hospital

Notification No. 59/2021-Income Tax [S.O. 1839(E)] 10/05/2021

CBDT issues Corrigendum to Notification No. 56/2021-Income Tax Dated: 7th May, 2021 and  stated that word ‘payee ‘to be read as payer. Notification No. 59/2021-Income Tax Dated: 10th May, 2021  MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) CORRIGENDUM New Delhi, the 10th May, 2021 NOTIFICATION N...

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Notification No. 58/2021-Income Tax, Dated: 10.05.2021

Notification No. 58/2021-Income Tax [S.O. 1841(E)] 10/05/2021

CBDT amends Notification No. 35/2021-Income Tax dated the 22nd April, 2021 and stated that the word ‘Canada Pension Plan Investment Board Private Holdings (4) Inc.’ should be read as ‘CPP Investment Board Private Holdings (4) Inc.’  Notification No. 58/2021-Income Tax Dated: 10th May, 2021. MINISTRY OF FINANCE (De...

Read More

Notification No. 57/2021-Income Tax, Dated: 10.05.2021

Notification No. 57/2021-Income Tax [S.O. 1838(E)] 10/05/2021

CBDT amends Notification No. 54/2021-Income Tax dated the 5th May, 2021 and stated that the word ‘Stretford Investment Pte. Ltd.’ should be read as ‘Stretford End Investment Pte. Ltd.’  Notification No. 57/2021-Income Tax Dated: 10th May, 2021. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT T...

Read More

FAQs on Section 269ST in light of recent CBDT notification dated 07.05.2021

Section 269ST relaxations announced in Covid 2.0 times especially for payment of medical bills of INR 2 lacs or more; vide Notification No. 56/2021-Income Tax Dated: 7th May, 2021 for a period of 2 months. Penalty on receipt of an amount of Rs. 2 lakh or more in cash Section 269ST (as inserted by the […]...

Read More
Posted Under: Income Tax |

ITR for FY 2019-20 Can Now Be Filed Till 31st May 2021

Extended Deadline for Tax Compliance Is a Huge Relief for the Taxpayers, ITR for FY 2019-20 Can Now Be Filed Till 31 May Amid a surge in Covid-19 cases and a nationwide lockdown, the government on Saturday has announced to extend the timelines for various income tax compliance to 31 May, including late return filing […]...

Read More
Posted Under: Income Tax |

CBDT notifies Threshold for Significant Economic Presence

Section 9(1)(i) of the Income Tax Act, 1961 was amended vide Finance Act 2018 to bring in the concept of “Significant Economic Presence” (‘SEP’) for establishing a business connection in India of a non-resident. According to the said Section, “significant economic presence” for this purpose shall mean: “transaction i...

Read More
Posted Under: Income Tax |

e-Campaign for High Value Transactions in Compliance Portal

Introduction The income-tax department has started to reach out to certain taxpayers who have either not filed income-tax returns (ITR) or failed to accurately report high-value transactions in their returns. Objective of the e-campaign is to facilitate taxpayers to validate their financial transaction information against information avai...

Read More
Posted Under: Income Tax | ,

Promotion of 3 officers to Pr.CCIT grade | Order No. 84 of 2021

Office Order No. 84 of 2021 30/03/2021

Office Order No. 84 of 2021 Consequent upon approval of the Competent Authority, the following officers are, hereby, promoted to the grade of Principal Chief Commissioner of Income Tax (Pr. CCIT) (level 17 in the pay matrix Rs. 2,25,000/-) for the panel year 2021 on in-situ basis w.e.f. 01.04.2021 or the date of assumption of the charge o...

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Promotion of 5 officers to Pr.CCIT grade | Order No. 83 of 2021

Office Order No. 83 of 2021 30/03/2021

Office Order No. 83 of 2021 Consequent upon approval of the Competent Authority, the following officers are, hereby, promoted to the grade of Principal Chief Commissioner of Income Tax (Pr. CCIT) (level 17 in the pay matrix Rs. 2,25,000/-) for the panel year 2021 on in-situ basis with immediate effect or w.e.f. the date of assumption of t...

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