CBDT

No more fake certifications as tax department will validate UDIN

Income Tax - The income tax department has taken a good initiative to curb the fake certifications by non-CAs. Earlier they were misrepresenting themselves as CAs but now it is not possible as ICAI has made mandatory the generation of UDIN which is a Unique Document Identification Number if you are issuing tax audit reports or any kind […]...

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Procedure for filing TDS returns with insufficient deductee PAN

Income Tax - As per instructions issued by the Central Board of Direct Taxes (CBDT), it is mandatory for deductors to file TDS/TCS statements with a threshold limit of Permanent Account Number (PAN) of deductees. To facilitate deductors who face problem in filing TDS returns because of insufficiency of PAN of the deductees and also to accommodate the ...

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‘KOSH MULO DAND’ written on ITR Acknowledgment – Meaning

Income Tax - The water mark printed on the ITR V in English states Income Tax Department and in Hindi it states  ‘KOSH MULO DAND‘. If translate income tax department in Hindi it will be AYAKAR VIBHAG and translation of ‘KOSH MULO DAND’  in Layman Language is as  follows :- KOSH – Fund MULO – Principal / Main DA...

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TDS on transportation charges

Income Tax - As per the amended section 194C, through Finance Act (2) of 2009, No deduction shall be made from any payments made to a contractor during the course of business of plying, hiring or leasing goods carriages, on furnishing of his PAN to the deductor. This new subsection 6 of 194-C makes such transport contractor to compulsorily provide PAN...

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Submission of ITR V and Related FAQs

Income Tax - It has been proposed under the IT Circular 3/2009 that if the return is electronically furnished under a digital signature, the tax-payer is not required to furnish the Form ITR-V with the Income-tax Department as a follow up to the electronic transmitting of data in the return. Similarly, any return which is digitally signed by the asses...

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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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Notification No. 90/2020-Income Tax, Dated: 15.12.2020

Notification No 90/2020-Income Tax [S.O. 4545(E).] - (15/12/2020) - Central Government hereby specifies Secretary, Citizen Resources Information Department, Government of Haryana, for the purposes of the said clause in connection with sharing of information regarding income-tax assessees for identifying the eligible beneficiaries for transfer of financial assistance...

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Transfer/ posting of 19 Officers by CBIC wef 3rd November, 2020

Office Order No. 124/2020 - (03/11/2020) - Office Order No. 124/2020 With the approval of Competent Authority, the following transfer and posting in the grade of Pr. Chief Commissioner/ Pr. Director General/Chief Commissioner/Director General of Customs & Central Excise, is hereby ordered with immediate effect and until further orders:-...

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CBDT notifies extended Due dates of Return & Tax Audit Report for A.Y.2020-21

Notification No. 88/2020-CBDT [S.O. 3906(E)] - (29/10/2020) - CBDT issued Notification No. 88/2020 and extended Due dates of Income Tax Return and Tax Audit Report as follows:- A. Income Tax Return FY 2019-20/AY 2020-21 i. Without tax audit –31.12.20 ii. TP, tax audit & tax audit firm partners– 31.01.21 B. Various audit reports (tax audit, transfer pri...

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Payment Date Extended for Vivad se Vishwas Scheme

NA - (27/10/2020) - In order to provide further relief to the taxpayers desirous of settling disputes under Vivad se Vishwas Scheme, the Government today further extended the date for making payment without additional amount from 31st December 2020 to 31st March 2021. The last date for making declaration under the Sche...

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388 transfers and postings in Additional/Joint CIT grade

Office Order No. 199 of 2020 - (16/10/2020) - Office Order No. 199 of 2020 The following transfers and postings in the grade of Additional/Joint Commissioners of Income Tax are ordered with immediate effect and until further orders:...

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Recent Posts in "CBDT"

Notification No. 90/2020-Income Tax, Dated: 15.12.2020

Notification No 90/2020-Income Tax [S.O. 4545(E).] (15/12/2020)

Central Government hereby specifies Secretary, Citizen Resources Information Department, Government of Haryana, for the purposes of the said clause in connection with sharing of information regarding income-tax assessees for identifying the eligible beneficiaries for transfer of financial assistance through Direct Benefit Transfer Scheme....

Read More

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

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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Posted Under: Income Tax |

CBDT issues FAQs on UDIN

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...

Read More
Posted Under: Income Tax |

Income Tax Department conducts searches in Odisha

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...

Read More
Posted Under: Income Tax |

No more fake certifications as tax department will validate UDIN

The income tax department has taken a good initiative to curb the fake certifications by non-CAs. Earlier they were misrepresenting themselves as CAs but now it is not possible as ICAI has made mandatory the generation of UDIN which is a Unique Document Identification Number if you are issuing tax audit reports or any kind […]...

Read More
Posted Under: Income Tax |

Transfer/ posting of 19 Officers by CBIC wef 3rd November, 2020

Office Order No. 124/2020 (03/11/2020)

Office Order No. 124/2020 With the approval of Competent Authority, the following transfer and posting in the grade of Pr. Chief Commissioner/ Pr. Director General/Chief Commissioner/Director General of Customs & Central Excise, is hereby ordered with immediate effect and until further orders:-...

Read More

CBDT notifies extended Due dates of Return & Tax Audit Report for A.Y.2020-21

Notification No. 88/2020-CBDT [S.O. 3906(E)] (29/10/2020)

CBDT issued Notification No. 88/2020 and extended Due dates of Income Tax Return and Tax Audit Report as follows:- A. Income Tax Return FY 2019-20/AY 2020-21 i. Without tax audit –31.12.20 ii. TP, tax audit & tax audit firm partners– 31.01.21 B. Various audit reports (tax audit, transfer pricing etc) – 31.12.20 C. Income tax [&h...

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Payment Date Extended for Vivad se Vishwas Scheme

NA (27/10/2020)

In order to provide further relief to the taxpayers desirous of settling disputes under Vivad se Vishwas Scheme, the Government today further extended the date for making payment without additional amount from 31st December 2020 to 31st March 2021. The last date for making declaration under the Scheme has also been notified as 31st Decemb...

Read More

Procedure for filing TDS returns with insufficient deductee PAN

As per instructions issued by the Central Board of Direct Taxes (CBDT), it is mandatory for deductors to file TDS/TCS statements with a threshold limit of Permanent Account Number (PAN) of deductees. To facilitate deductors who face problem in filing TDS returns because of insufficiency of PAN of the deductees and also to accommodate the ...

Read More
Posted Under: Income Tax |

388 transfers and postings in Additional/Joint CIT grade

Office Order No. 199 of 2020 (16/10/2020)

Office Order No. 199 of 2020 The following transfers and postings in the grade of Additional/Joint Commissioners of Income Tax are ordered with immediate effect and until further orders:...

Read More

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