CBDT revising return forms to enable taxpayers avail benefits of timeline extension due to Covid-19

Income Tax

In order to enable income taxpayers to avail full benefits of various timeline extensions granted by the Government of India due to Covid-19 pandemic situations, the CBDT is revising the return forms for FY 2019-20 (Assessment Year 2020-21) which shall be notified by the end of this month. CBDT today said that in order to … Read more

Clarification in respect of option under section 115BAC of the Income-tax Act, 1961

Income Tax

Circular C1 of 2020 F. No. 370142/13/2020-TPL Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes ***** New Delhi, April 13, 2020 Clarification in respect of option under section 115BAC of the Income-tax Act, 1961 Section 115BAC of the Income-tax Act, 1961 (the Act), inserted by the Finance Act, 2020 … Read more

Clarification regarding short deduction of TDS/TCS due to increase in rates of surcharge by Finance (No.2) Act, 2019

Income Tax

Circular No. 8/2020 No. 370133/5/2020-TPL Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes (TPL Division) ***** Room No. 1478-H, North Block, New Delhi Dated 13th April, 2020 Subject : Clarification regarding short deduction of TDS/TCS due to increase in rates of surcharge by Finance (No.2) Act, 2019-reg. The Finance … Read more

सीबीडीटी ने 4,250 करोड़ रुपये के 10.2 लाख से भी अधिक रिफंड एक सप्ताह में ही जारी कर दिए

Income Tax

कोविड-19 महामारी की मौजूदा स्थिति में करदाताओं की मदद के लिए 5 लाख रुपये तक के लंबित आयकर रिफंड जारी करने संबंधी सरकारी निर्णय (8 अप्रैल 2020 का प्रेस नोट देखें) को ध्‍यान में रखते हुए केंद्रीय प्रत्यक्ष कर बोर्ड (सीबीडीटी) ने आज कहा कि उसने 14 अप्रैल 2020 तक लगभग 4,250 करोड़ रुपये के … Read more

Over 10.2 lakh Refunds worth Rs 4,250 crore issued in a week by CBDT to help taxpayers in COVID-19 pandemic situation

Income Tax

In pursuance to the Government’s decision vide Press Note on 8th April 2020 to issue pending income tax refunds up to Rs 5 lakh in order to help taxpayers in a COVID-19 pandemic situations, the Central Board of Direct taxes (CBDT) today said that it has already issued over 10.2 lakh refunds totalling to around … Read more

Submission of certificate for claiming deductions u/s 80G of the IT Act, 1961 for PM CARES FUND

Income Tax

F.No.178/7/2020-ITA-I Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi, the 9th April, 2020 Subject:- Submission of certificate for claiming deductions u/s 80G of the Income-tax Act, 1961 in respect of donation made by an employee to the “Prime Minister’s Citizen Assistance and Relief in Emergency Situations Fund … Read more

CBDT : Issuance of certificate for lower rate/nil deduction/collection of TDS/TCS u/s 195,197 and 206C (9)

Income Tax

F.No. 275/25/2020-IT(B) Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes North Block, New Delhi 09 April 2020 Sub: Clarification on orders dated 31.03.2020 and 03.04.2020 issued under section 119 of the Income-tax Act, 1961 (the Act) by CBDT vide F. No. 275/25/2020-IT(B) regarding issuance of certificate for lower rate/nil … Read more

I-T extends date for filling form claiming TDS exemption – Forms 15G and 15H

Income Tax

F.No. 275/25/2020-IT(B) Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes North Block. New Delhi 03rd April, 2020 Subject: Order u/s 119 of the Income-tax Act, 1961 (the Act) regarding submission of Form 15G and 15H for Financial Year-2020-21-reg Due to outbreak of pandemic Covid-19 virus, there is severe disruption … Read more

CBDT – Amend the Income-tax Rules, 1962(PAN, Aadhar) in IT rules 114 w.e.f. 01.09.2019

MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 30th August, 2019 G.S.R. 614(E).– In exercise of the powers conferred by section 139A read with section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend … Read more