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Extend due date of filing ITR, Tax Audit/Transfer Pricing Report
Request for extension of due date of filing Return of Income (ITR), Tax Audit Report and Transfer Pricing Report for the Assessment Year 2020-21 by Chamber of Commerce and Industry.Dated- 08/09/2020Mr...
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Ombudsman under NPS & Atal Pension Yojana
National Pension System Trust (NPS Trust)No. 1/6/2014/NPSTNol-XIIIOmbudsman under National Pension System (NPS)and Atal Pension Yojana (APY)Pension Fund Regulatory and Development Authority (PFRDA) ha...
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Request for Extension of Date of Filing of ITR & Audit Report
National Association of Tax Professionals (Haryana Chapter) submitted a representation to The Central Board of Direct Taxes requested for Extension of Date of Filling of ITR and Audit Report.From:Nati...
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Representation for relaxation from levy of Section 234A interest
C.V.O. CHARTERED & COST ACCOUNTANTS’ ASSOCIATION Dated: 6th August, 2020ToShri Pramod Chandra Mody,ChairmanCentral Board of Direct TaxNorth Block,New DelhiEmail – chairmancbdt@nic.inRespected Sir,Subj...
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Suggestion /representation on 7 Important Direct Tax Issues
C.V.O. Chartered & Cost Accountants’ AssociationDate: 25th August, 2020To,Shri Pramod Chandra Mody,Chairman,Central Board of Direct Tax,North Block,New DelhiEmail – chairmancbdt@nic.inRespected Sir,Su...
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Extend due date of filing Income Tax Returns & Tax Audit Report
All India Federation of Tax PractitionersDirect Tax Representation Committee(An Association of Advocates, Chartered Accountants and Tax Practitioners of India)Date: 04.09.2020Hon’ble Smt. Nirmala Sith...
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Income Tax Department carries out searches in Srinagar & Kupwara
Ministry of FinancePosted On: 02 SEP 2020The Income Tax Department has carried out simultaneous search and seizure operations on 2nd September, 2020 in the case of three prominent businessmen in Srina...
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ITR Filing Compliance Check Functionality for Scheduled Commercial Banks
Ministry of FinanceCBDT provides ITR Filing Compliance Check Functionality for Scheduled Commercial BanksPosted On: 02 SEP 2020Central Board of Direct Taxes in exercise of powers conferred under secti...
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Faceless E-Assessment Scheme is a vaccine for direct tax administration
Ministry of FinanceFaceless –E-Assessment Scheme will provide Ease of Doing Business to taxpayers: Principal Chief Commissioner (Income Tax), MumbaiFaceless E-Assessment Scheme is a ‘vaccine’ for dire...
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Opportunity to taxpayers before finalizing of Assessment
Ministry of FinanceProviding Ease of Tax Compliance and Opportunity to taxpayers before finalizing of Assessment Order are the core features of Faceless Assessment Scheme, a right step towards Minimum...
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Faceless Tax Assessment System is designed for 21st century
Ministry of FinanceA National e-Assessment Centre will be set up to implement Faceless Assessment: Principal Chief Commissioner of Income Tax, MumbaiMumbai, 26 August 2020A National e-Assessment Centr...
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Valuers registered with IBBI under MCA Rules can only be appointed as IP
The DC further finds that despite the IBBI Circular No. IBBI Circular IBBI/RV/019/2018 dated 17th October 2018 (which came into effect from 1st February 2019) which clearly states that no person other...
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CBDT to share information with Scheduled Commercial Banks
Order under section 138 of the Income-tax Act,1961 directing Principal Director General of Income-tax (Systems), New Delhi for sharing information on ‘IT Return filing Status’ of with Scheduled Commer...
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Tenure of CBDT Chairman P. C. Mody extended till 28.02.2021
F.No.A.12026/9/2020-AD-IGovernment of IndiaMinistry of FinanceDepartment of RevenueNew Delhi, the 31st August, 2020OFFICE ORDER No. 164/2020The President of India is pleased to extend the re-employmen...
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One Time relaxation of tax-returns pending due to non-filing of ITR-V
One Time Relaxation of tax-returns for AY’s 15-16,16-17,17-18,18-19 and 19-20 which are pending due to non -filing of ITR-V form and processing of such returnsIt has been brought to the notice of Cent...
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Withdraw New Income Tax TCS provisions
Ahilya Chamber of Commerce and IndustryDate : 31st August 2020Smt. Nirmala Sitaraman,Minister of Finance,Government of India,NEW DELHI.Respected Madam,PROVISION OF TCSWe wish to submit that the provis...
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Form 26QD notified by CBDT for section 194M TDS payment
Recently introduced Section 194M of Income tax Act, making it mandatory for Individual & HUF to deduct 5% TDS on prescribed paymentsAs per Section 194 M An Individual or HUF has to deduct TDS other th...
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Income Tax Exemption to Owners of Unauthorized Colonies In Delhi
Over 1700 unauthorized colonies in Delhi were regularised in December last year. Owners Delhi’s unauthorised colonies will now get Income Tax Exemption even if they have purchased land or house at rat...
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Differences between current & Faceless Assessment scheme
Article explains Differences between current scheme & Faceless Assessment scheme, Constitution of ReACS, Consequences of No Response by Taxpayer and Functions of each of Assessment Unit, Verification...
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Section 269SU: Banks to Refund charges received on or after 01.01.2020
CBDT clarifies that No Bank /service provider can impose any charges on transactions made through Debit Card, BHIM UPI & BHIM UPI QR CODE on or after 1st January 2020 and any such charges if recovered...