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Functionality for Demand Adjustment u/s 245 by AO in ITBA
ITBA- Assessment – Demand Adjustment by AO u/s 245 Instruction No.13DIRECTORATE OF INCOME TAX (SYSTEM)ARA Center, Ground Floor, E-2, Jhandewalan Extension,New Delhi — 110055F.No. System/ITBA/Instructi...
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Authority to condone delay in filing Form 9/Form 10 by Charitable Institutions
Circular No. 6/2020 – Condonation of delay u/s 119(2)(b) of the IT Act, 1961 in filing of Return of Income for AY 2016-17, 2017-18 and 2018-19 and Form No. 9A and Form No. 10 – reg.F.No.197/55/2018-IT...
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Steps to clear pendency of processing of Income Tax Returns transferred by CPC-ITR
Steps to clear the pendency of processing of Paper Returns or E-returns transferred by CPC-ITR due to verification of relief claimed u/s 90/90A or 91 of the Income Tax Act, 1961.ITBA-ITR Processing In...
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Representation for Amendments made in Section 254 of Income Tax Act, 1961
Darted: February 20, 2020To,Ms. Nirmala SitharamanUnion Finance Minister of India15, Safdarjung Road,New Delhi – 110029Respected Madam,Sub.: – Representation for the Amendments made in Section 254 of...
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Due dates of filing Form GSTR 3B for the month of January 2020
a.Government of India vide Notification No. 07/2020 – Central Tax dated 03rd February, 2020, has staggered filing of Form GSTR-3B, for period of January 2020, in the manner as given below:Sl. No. Taxp...
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CBDT revises definition of unauthorised colonies of NCT of Delhi
CBDT has vide Notification No. 12/2020-Income Tax revises definition of unauthorised colonies of NCT of Delhi for rule 11UAC read with Section Section 56(2)(x). Earlier CBDT has provided vide Notifica...
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No condonation of delay in submission of Form 18 beyond 29th Feb 2020: ICAI
Decision of the Council of the Institute regarding cut-off date for condonation of cases for the year 2020-21The Council has decided to extend the due date of submission of all forms up to 29th Februa...
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Empanelment of CA firms with CAG- Extension of the Last Date
Extension of the Last Date for submission of application for Empanelment of Chartered Accountants firms/LLPs with O/o C&AG for the year 2020-21Considering the difficulties faced by Chartered Accountan...
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Draft Committee report on CA Exam Processes & Regulations
The Institute of Chartered Accountants of IndiaAnnouncement14th February, 2020Draft report of the High Level Independent Committee on Exam Processes and RegulationsICAI had on 26th September 2019, con...
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Rule 114AAA: PAN to become inoperative on failure to furnish Aadhaar
CBDT notifies Income Tax Rule 114AAA prescribing that permanent account number (PAN) will become inoperative if a person, who has been allotted PAN as on the 1st day of July, 2017 and is required to i...
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Forms for exercise of Lower Income Tax rate option for Companies released
Section 115BAA deals New tax rate for domestic companies and Section 115BAB deals with Corporate tax rate for new manufacturing companies for Financial Year 2019-20 onwards. Now CBDT has released FORM...
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CJMs of UT of J&K Designated as Special Court under Black Money law
CBDT designates Courts of Chief Judicial Magistrates (CJM) of the Union Territory of Jammu and Kashmir (UT of J&K) as Special Courts for the purposes of section 280A of the Income tax Act, 1961 and se...
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Cabinet approves amendment in DTAA with Sri Lanka
Cabinet approves protocol amending the Agreement between India and Sri Lanka for avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on incomeThe Union Cabinet, cha...
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Vivad Se Vishwas Scheme- An important factor in determining future postings
Government of IndiaMinistry of FinanceDepartment of Revenue[Central Board of Direct Taxes]New Delhi the 13th February, 2020OFFICE MEMORANDUMSub: Performance of Pr. Chief Commissioners of Income Tax in...
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CBDT clarifies on misinformation pertaining to individual return filers
Certain misinformation is being circulated in Social Media pertaining to individual return filers. CBDT clarifies: During the current financial year, 5.78 crore individuals filed returns disclosing in...
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Income Tax Dept detects unaccounted income of more than Rs. 2000 crore
Government of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Direct TaxesNew Delhi, 13th February, 2020PRESS RELEASESearches conducted by the Income Tax Department lead to detection of...
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CBDT notifies ‘Pr. DGIT (System)’ as Income-tax authority to furnish info to SEBI
CBDT notifies that the Principal Director General of Income-tax (Systems), New Delhi for furnishing information respecting assessees to Securities and Exchange Board of India(‘SEBI’).F.No. 225/297/201...
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Procedure of PAN allotment through Common Application Form
F.No. Pr. DGIT(S)/ADG(S)-1/FPI/04/2019-20/PartGovernment of IndiaMinistry of FinanceCentral Board of Direct TaxesDirectorate of Income-tax (Systems) Notification 11 of 2020New Delhi, 7th of February,...
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Competition Commission of India (General) Amendment Regulations, 2020
THE COMPETITION COMMISSION OF INDIANOTIFICATIONNew Delhi, the 6th February, 2020The Competition Commission of India (General) Amendment Regulations, 2020No. L-3(2)/Regln-Gen.(Amdt.)/2020/CCI.- In exer...
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Income Tax search on prominent persons in Film Industry in Tamil Nadu
Income Tax Department conducts search on prominent persons in Film Industry in Tamil NaduThe Income Tax Department conducted a search in the case of 4 major players in the Film Industry including a Pr...