-
Section 10(46) exemption to National Aviation Security Fee Trust
Notification No. 46/2020- Central Government notifies ‘National Aviation Security Fee Trust’ in respect of the specified income arising to that board under section 10(46) of Income Tax Act, 1961.MINIS...
-
National Pension Scheme Tier II-Tax Saver Scheme 2020
CBDT notified vide Notification No. 45/2020-Income Tax dated 07th July, 2020 that Tax benefit of Section 80C will be available to the Government employee if, they contributes towards Tier-II of NPS. B...
-
Infrastructure sub-sectors business – section 10(23FE) exemption
CBDT specifies business, for the purposes of section 10(23FE)(iii)(b), to be the business which is engaged in the infrastructure sub-sectors mentioned in Updated Harmonised Master List of Infrastructu...
-
Income Tax Due dates falling on 31st July 2020
Every year July end due dates have one thing in common and that is ITR filing for the taxpayers whose accounts are not required to be audited. But this time around we are all locked up in our homes du...
-
e-campaign on voluntary Income Tax compliance for FY 2018-19
CBDT starts 11-day e-campaign on voluntary compliance of Income Tax for FY 2018-19 from 20 July 2020CBDT vide a recent press release dated 18th July 2020 embarked e-campaign on voluntary compliance of...
-
E-Campaign for Voluntary Income Tax Compliance : CBDT
The income-tax department will start a 11-day e-campaign starting July 20, 2020, for voluntary tax compliance aimed at such assesses who are either non-filers or have discrepancies/deficiency in their...
-
Voluntary Delisting Process & Advantages explained; Why Vedanta is planning to get delisted
Introduction:-Delisting a security will primarily change the primary mode of transacting in such security from Recognised Stock Exchange (RSE) to Over The Counter (OTC). This is not a simple process a...
-
Govt. sign $750 million Agreement with World Bank for MSMEs
Ministry of FinanceWorld Bank and Government of India sign $750 million Agreement for Emergency Response Programme for Micro, Small, and Medium EnterprisesPosted On: 06 JUL 2020The World Bank and the...
-
Relaxation in the time-limit in the deadline to file ITR
In its notification on July 13, the Income Tax Department has allowed one-time relaxation to the taxpayers for such one- time relaxation for the taxpayers under the verification of tax-returns that ar...
-
Income Tax search & survey operations in Rajasthan, Delhi & Mumbai
Government of IndiaDepartment of RevenueMinistry of FinanceCentral Board of Direct Taxes PRESS RELEASENew Delhi, 13th July, 2020Income Tax Department carries out search and survey operations in Rajast...
-
Extended due dates by CBDT
CBDT has extended the due dates vide Notification No.35 /2020/ F. No. 370142/23/2020-TPL dated 24.06.2020Crux :-1) ITR for FY 2018-19 = 31st July 20202) ITR for FY 2019-20 = 30th Nov 20203) Tax Audit...
-
CBDT prioritise Vivad Se Vishwas Scheme case of demand & Refund
CBDT desires that all the work related to cleaning up of the tax demands and calculating the tax payable or refundable in respect of all eligible assesses under Vivad Se Vishwas Scheme is taken up on...
-
CBDT directs all CIT(A) to dispose at least 80 appeals per month
CBDT directs all CIT (Appeal) that appeals are required to be disposed of through e-appeal proceedings by sending the communication through the e-filing portal and or through emails only. it directs t...
-
Investigation Wing to handle all Tax Evasion Petitions: CBDT
To utilize the valuable information available to the department in the form of Tax Evasion Petitions (TEPs) and to prevent harassment of the taxpayers, Board has decided that they should be handled wi...
-
Dispose all nil or lower deduction TDS/TCS applications by 31.08.2020
CBDT Chairman has instructed the department to Disposal of all pending applications as on 30.06.2020 for nil or lower deduction TDS/TCS certificates u/s 197 and 206C(9) by 31.08.2020 and dispose all F...
-
Educational Material on Ind AS 38, Intangible Assets
The Institute of Chartered Accountants of IndiaAccounting Standards BoardThe Institute of Chartered Accountants of India14th July, 2020ANNOUNCEMENTRelease of Educational Material on Ind AS 38, Intangi...
-
Payment of Annual ICSI Membership & COP Fee For FY 2020-2021
Dear Member,You need not worry about the lockdownTeam ICSI is always at your service. Reach us at http://support.icsi.eduCommon problems and their solutions when paying annual membership fees the PDF...
-
Request to ICAI to offer fees relief to all CAs amid Covid 19
Dear Hon’ble President,ICAI New Delhi.Heartiest Congratulations for the Grand Virtual CA Day, 2020 celebration.Sir, I am sure you must have received my Happy CA Day Wishes to you through whatsup messa...
-
Blocked ITC on Construction Activities- Deterrence to Economic Development
Blocked Input Tax Credit (ITC) on Construction Activities- Deterrence to Economic Development of the CountryGlobe is evidencing an unprecedented health hazard in the form of this pandemic. All economi...
-
Taxpayer opting Lower Tax Rate- Change of Income-Tax Rules
On 26th June, the Central Board of Direct Taxes (CBDT) has made certain changes in Income Tax Rules vide Notification No. 38/2020-Income Tax related to Perquisites & Allowances to Taxpayer opting Lowe...