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Search results for: income tax department

No Confusion for Tax Deadline Extension

Clear Your Confusion Regarding Extension of Tax Deadline as Dates of FY Overlap

The Financial Year 2019-20 has not ended well, the last dates of some tax compliance Check out the compliance calendar of Income-tax and GST for Feb to May 2020 with brief details. Also, we attached the latest notification of Income-tax and GST. Read more  have been extended till 30th June but not the Financial year. […]

IT Dept to Consider Pensioners Application

Delhi HC Ordered Income Tax Dept to Consider Pensioner’s Application

The Delhi High Court on Tuesday 5th May asked the IT department to go through the applications of the pensioners whose pension account has been attached by the Department. The petition was filed by Lalita Aggarwal for amendment in the attachment of the Petitioner’s bank account, to provide a permit for the cash withdrawal (Pension) […]

Contact Detail Update on IT Portal

How to Update Contact Details on Income Tax E-Filing Portal?

Whenever we log in to our income tax account, the first thing that flashes on the screen is the pop-up to update our contact and residential details. We often tend to hit the skip button and move on with other crucial tasks. If the details are already updated then it’s good but if not then […]

Rejected: Increase Tax on the Rich by IT Dept

Suggestion to Increase Tax on the Rich Assessee Rejected by IT Dept

A group of officials of the Indian Revenue Service (IRS) had suggested the Central Board of Direct Taxes (CBDT) that the department should increase the Income Tax Rates Get the details on income tax rates for FY 2019-20 (AY 2020-21). Various rates are provided such as Individual/HUF, Companies, Partnership Firms. Read more on the super-rich […]

IT Dept Scrutinize MNCs Dealing with Tax Havens

IT Dept to Critically Scrutinize MNCs Dealing with Tax Havens for Benefits

The IT department has commanded the field officers to scrutinize the financial transactions of the entities/businesses that come under the surveillance of ‘tax haven’ countries and jurisdiction. The Central Board of Direct Taxes These types of taxes are directly imposed and paid to the government of India. Example of Direct Tax is Income Tax, TDS, […]

Tax Dept to Announce New ITR Forms

Tax Dept to Announce New ITR Forms with Extended Due Dates

The IT department is working on a new format of ITR filing forms in order to make sure that the taxpayers are able to avail of the benefits of provisional changes made by the government due to the COVID-19 lockdown in India. ITR forms are amended by CBDT in-line with the provisional tax benefits the […]

Amnesty Scheme Launch by Kerala Govt for Pre GST

Amnesty Scheme Launched by Kerala Govt to Settle Pre-GST Tax Arrears

The Government of Kerala has launched an Amnesty Scheme 2020 to settle the liabilities of the tax arrears arising during Pre GST (Goods and Services Tax). The government has introduced the scheme for the purpose of settlement of tax liabilities of arrear assessees before the introduction of GST to clear the backlog of taxes. The […]

Latest Income Tax and TDS Updates

Latest Official Tax (Income Tax + TDS) Updates by CBDT India

Here we have provided complete notifications related to the Income Tax and TDS provisions as per the official government laws. We include all the latest updates in Income Tax and TDS, news, amendments, and circulars on the government portal for your reference. Introduce of Income Tax Income Tax is the tax levied by the government […]

No Tax Penalties Due to COVID-19

Tax Penalties & Deadlines Removed by Govt Due to COVID-19

The government is coming up with ways to smoothen the difficulties faced by the population because of the spread of coronavirus in the country. Both economic and health-related measures are being taken to control the situation. The outbreak of COVID-19 has put the people under a lot of stress as firstly the situation is not […]

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