Stay updated with the latest income tax notifications for changes in tax laws, rates, and compliance requirements. Get insights into income tax updates, exemptions, deductions, and important deadlines through income tax notifications.
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CBDT, in exercise of powers conferred U/s. 119 of the Income-tax Act, 1961, hereby extends the ‘due-date’ for filing such returns of Income from 31st July, 2016 to 5th August, 2016, in case of taxpayers throughout India who are liable to file their Income-tax return by the said`due-date’
CBDT extends the ‘due-date’ for filing Returns of Income from 31st July, 2016 to 31st August, 2016, in case of Income-tax assessees in the State of Jammu & Kashmir who are required to file their return under section 139(1) of the Act by the said ‘due date’
In order to facilitate filing of income-tax returns on 30th July & 31st July, 2016 (Sunday), CBDTin exercise of powers , hereby directs that necessary arrangements be made for receiving Income tax returns in all income-tax offices throughout the country on these days, during the normal working hours.
As you are aware, the assessment proceedings in all cases selected under scrutiny are now to be conducted through e-mail based communications unless the taxpayer concerned himself desires to opts out of the Paperless Assessment Scheme. The assessing officer also can decide to switch over to the manual mode of assessment, after recording reasons in this regards, if he faces practical difficulties like voluminous nature of submissions etc.
CBDT clarifies that a person born on 1st April would be considered to have attained a particular age on 31st March, the day preceding the anniversary of his birthday. In particular, the question of attainment of age of eligibility for being considered a senior/very senior citizen would therefore be decided on the basis of above criteria.
The following postings I transfers in the grade of Assistant/ Deputy Commissioner of Income Tax are, hereby, ordered with immediate effect and until further orders:-
S.O. 2527(E).—In exercise of the powers conferred by clause (46) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies for the purposes of the said clause, Kerala Headload Workers Welfare Board, a body constituted by Government of Kerala, in respect of the following specified income arising to that Board, namely:-
This year in CASS, two types of cases are selected for scrutiny, one is ‘Limited Scrutiny’ and other is ‘Complete Scrutiny’. The type of case – ‘Limited’ or ‘Complete’ — is displayed on the notice issued u/s 143(2), ‘Scrutiny Register’, ‘MIS Report’ and on the screen showing details of the case.
Under section 115QA of the Income-tax Act, 1961 (the Act), additional Income-tax at the rate of 20 percent is levied on the distributed income arising out of buy back of unlisted share by the company. The distributed income was defined to be the consideration paid by the company on buy back of shares as reduced by the amount which was received by the company for issue of such shares.
The Income Tax Department has received information about large value transactions relating to you under the Annual Information Return (AIR) without a valid PAN. The list of such transactions is provided. You are requested to submit the on-line response as under:
