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Order under Para 3 of the Faceless Penalty Scheme, 2021
F No. 187/4/2021-ITA-IGovernment of IndiaMinistry of FinanceDepartment of Revenue(Central Board of Direct Taxes)North Block, New Delhi – 110001.Dated the 2nd January, 2021ORDERSubject: Order under Par...
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Appointment of 201 Officers in ACIT grade on regular basis
F.No. A-32013/1/2019-Ad.VIGovernment of IndiaMinistry of FinanceDepartment of Revenue(Central Board of Direct Taxes)*****North Block, New Delhi.The 16th December, 2020.Office Order No. 259 of 2020The...
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Penalty u/s 271AAD for false entry etc. in books of accounts-reg
We recently found below CBDT instruction on Social media on ‘Penalty u/s 271AAD for false entry etc. in the books of accounts’ but we are not able to verify this from official sources so readers are r...
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Remuneration Amount under section 9A(3)(m) of Income-tax Act, 1961
Circular No. 1 of 2021F. No. /370142/2/2021-TPL,Government of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Direct Taxes(Tax Policy and Legislation Division)******New De1hi, 15th Janua...
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Faceless Penalty Scheme, 2021 – CBDT notifies directions
CBDT issues Notification No. 03/2021-Income Tax and notifies directions to give effect to the Faceless Penalty Scheme, 2021 MINISTRY OF FINANCE(Department of Revenue)(CENTRAL BOARD OF DIRECT TAXES)Not...
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Faceless Penalty Scheme, 2021
CBDT issues Notification No. 03/2021-Income Tax and notifies Faceless Penalty Scheme, 2021.Also Read- Faceless Penalty Scheme, 2021 – CBDT notifies directionsMINISTRY OF FINANCE(Department of Revenue)...
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CBDT designates Special Court for the State of Tripura
MINISTRY OF FINANCE(Department of Revenue)(CENTRAL BOARD OF DIRECT TAXES)(INVESTIGATION DIVISION-V)Notification No. 1/2021-Income TaxNew Delhi, the 6th January, 2021S.O. 58(E).—In exercise of the powe...
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Govt notifies extend due dates of Tax Audit/ITR/VSV Scheme
vide Notification No. 93/2020-Income Tax dated 31st December, 2020MINISTRY OF FINANCE(Department of Revenue)(CENTRAL BOARD OF DIRECT TAXES)Notification No. 93/2020-Income TaxNew Delhi, the 31st Decemb...
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Vivad Se Vishwas Scheme extended till 31/01/2021 (Notification)
Vivad Se Vishwas Scheme extended till 31/01/2021MINISTRY OF FINANCE(Department of Revenue)(CENTRAL BOARD OF DIRECT TAXES)Notification No. 92/2020-Income TaxNew Delhi, the 31st December, 2020S.O. 4804(...
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Section 10(46) exemption to Yamuna Expressway Industrial Development Authority
Notification No. 91/2020 Central Government notifies ‘Yamuna Expressway Industrial Development Authority’ an authority constituted by the State Government of Uttar Pradesh, as a ‘class of Authority’,...
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Clarification on prior approval for coercive/intrusive tax recovery u/s. 226(2)/(3)
Summary:The concept of Collegium will not be applicable in the Pr. CCIT regions where only one officer of the level of Pr.CCIT or CCIT is available. In such Regions, the recovery surveys will be condu...
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Delivery on Budget Promises (2020-21)
Re-strengthening economy through reforms: Assuring fair, courteous and rational behavior to the taxpayer, demonstrating our commitment to improve taxpayer services. DELIVERY ON BUDGET PROMISES (2020-2...
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₹ 450 Crore concealment detected in IT searches in Kolkata
Ministry of FinanceIncome Tax Department conducts searches in KolkataPosted On: 15 JAN 2021The Income Tax Department carried out search and survey operations on 13.01.2021 on persons / entities engage...
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Response to outstanding Income Tax Demand
The Taxpayer can submit the response online to the outstanding demand by performing the below steps.1. Go to the Income Tax e-Filing portal, `www.incometaxindiaefiling.govin’2. Login to e-Filing porta...
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View Tax Credit Statement (Form 26AS)- Easy Guide
The Form 26AS displays the various taxes deducted/paid on individual’s income from/through various sources. It includes details of,♦ Tax Deducted at Source (TDS)♦ Tax Collected at Source (TCS)♦ Advanc...
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CBDT launches e-portal for filing tax evasion complaints
CBDT launches e-portal for filing complaints regarding tax evasion/Benami Properties/Foreign Undisclosed AssetsTaking another step towards e-governance and encouraging participation of citizen as stak...
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Income Tax Dept conducts searches in Assam & Hyderabad
Income Tax Department conducts searches in AssamThe Income Tax Department carried out search and survey action on 08/01/2021 in the cases of renowned Doctors/Medical professionals of Assam. The search...
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e-Proceeding of Income Tax
What is an ‘e-Proceeding’?e-proceedings is an electronic platform for conducting proceedings in an end to end manner created by the Income Tax department.The objective here is to bring about transpare...
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Request to extend time limits under section 54 to 54GB
KSCAA has requested to Hon’ble Minister of Finance to extend various time limits under section 54 to 54GB of the Income-tax Act, 1961 (the Act). It is requested that various due dates for compliance a...
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Request to permit utilization of accumulated funds for other purposes- section 11(2)
Karnataka State Chartered Accountants Association has requested to permit utilization of accumulated funds for purposes other than the purpose for which it is so accumulated under section 11(2) of the...