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Net Direct Tax collections for FY 2021-22 have grown at over 100%
Ministry of Finance Net Direct Tax collections for the Financial Year 2021-22 have grown at over 100% Advance Tax collections for F.Y. 2021-22 stand at Rs. 28,780 crore which shows a growth of approxi...
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Cost inflation index for Financial Year 2021-22 notified
CBDT notifies ‘317’ as Cost inflation index for Financial Year 2021-22 / Assessment Year 2022-23 vide Notification No. 73/2021-Income Tax | Dated: 15th June, 2021. MINISTRY OF FINANCE (Department Of R...
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Finance Ministry to meet Infosys on Income Tax Portal issues
Finance Ministry to hold meeting on 22nd June, 2021 with Infosys on issues in new Income Tax Portal Senior officials of the Ministry of Finance, Government of India, will hold an interactive meeting o...
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Section 10(46) exemption to ‘Competition Commission of India’
Vide Notification No. 72/2021-Income Tax | Dated: 9th June, 2021 CBDT notifies Tax Exemption to ‘Competition Commission of India’, a Commission established under Section 7(1) of the Competition Act, 2...
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Guidelines for compulsory complete Income Tax Scrutiny during FY 2021-22
F. No. 225/61/2021/ITA-II Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes (ITA-II division) North Block, New Delhi, the 10th June, 2021 To AII Pr. Chief-Com...
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KTA Demands Roll Back to Old Income Tax Portal
Karnataka Taxpayers Association has released a Press note and stated that New Income Tax Filing Portal has crashed within an Hour of Launching & till date not repaired. It further states that New Port...
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CBDT amends TDS Rule 31A & Annexures to Form 26Q, 27EQ, 27Q
CBDT has amended Rule 31A of Income Tax Rules, 1962, Form 26A, form 26Q and following annexures to Form 26Q i.e. Deductee/Payee Wise Break Up Of TDS, Form 27EQ, annexures to Form 27EQ – Party Wise Bre...
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CBDT approves IIT, Bhilai for Research under Section 35(1)(ii) & (iii)
CBDT approves M/s Indian Institute of Technology (IIT), Bhilai for Scientific Research and Research in Social Science and Statistical Research for the purposes of clauses (ii) and (iii) of sub-section...
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Chart of Waiver of GST interest & late return filing fee
Waiver of interest and late fee for normal taxpayers (filing return on monthly or quarterly basis) and composition taxpayers (Part 1 & Part 2) Government has granted waiver from payment of interest an...
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New e-filing Portal to provide Free ITR Preparation Software
New, Taxpayer-friendly e-filing Portal of the Income Tax Department To Be Launched on 7th June, 2021 Several New Features Introduced Free of Cost ITR Preparation Interactive Software Also Available Ne...
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Request for extension of time limit for Re-registration u/s 12AB for Charitable Trusts/NGOs
BJP professional cell has requested FM Smt. Nirmala Sitharaman Madam through its president CA Shailesh R. Ghedia for extension of time limit for Re-registration under section 12AB of Income Tax Act, 1...
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Instructions for filling ITR-3 For A.Y. 2021-22 | F.Y. 2020-21 | Part II
Annexure 1 Important points to remember while filing return of income in ITR utility for ITR-3 (online or offline) Validation Rules The validation process at e–Filing/CPC end is to be carried out for...
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Instructions for filling ITR-3 For A.Y. 2021-22 | F.Y. 2020-21 | Part I
Instructions to Form ITR-3 (A.Y 2021-22) Instructions for filling out FORM ITR–3 These instructions are guidelines for filling the particulars in Income-tax Return Form-3 for the Assessment Year 2021-...
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Suggestions to Improve the Faceless Penalty Scheme
KARNATAKA STATE CHARTERED ACCOUNTANTS ASSOCIATION (R) Date: 4th June 2021 To, Shri. J B Mohapatra The Chairman Central Board of Direct Taxes, New Delhi – 110001 Respected Sir, SUBJECT: SUGGESTIONS TO...
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DSC to be re-registered on new Income Tax portal
DSC to be re-registered afresh 7th June onwards on new Income Tax portal Please ensure that you re-register your current valid DSC on the new e-filing portal https://www.incometax.gov.in from June 7th...
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Request to Extend Due Dates under Direct Tax
All India MSME and Tax Professionals Association Ref:- AIMTPA/007/21-22 Date:- 30-Mav-2021 To, Honorable Smt. Nirmala Sitharaman ji Finance Minister Government of India New Delhi, Respected Madam Subj...
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Instructions for filling ITR-7 For A.Y. 2021-22 | F.Y. 2020-21
Instructions to Form ITR-7 (A.Y. 2021-22) Instructions for filling out Form ITR–7 These instructions are guidelines for filling the particulars in Income-tax Return Form-7 for the Assessment Year 2021...
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Instructions for filling ITR-6 For A.Y. 2021-22 | F.Y. 2020-21
These instructions are guidelines for filling the particulars in Income‐tax Return Form‐6 for the Assessment Year 2021‐2 relating to the Financial Year 2020‐21. In case of any doubt, please refer to r...
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Instructions for filling ITR-5 For A.Y. 2021-22 | F.Y. 2020-21
These instructions are guidelines for filling the particulars in Income-tax Return Form-5 for the Assessment Year 2021-22 relating to the Financial Year 2020-21. In case of any doubt, please refer to...
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Launching of e-Filing Portal of Income Tax Appellate Tribunal
INCOME TAX APPELLATE TRIBUNAL Date : 4th June, 2021 NOTICE Subject : Launching of e-Filing Portal of Income Tax Appellate Tribunal. Whilst the outbreak of COVID-19 Pandemic has posed significant chall...