Income Tax
Finance Act,2021 Notified (March 28,2021)
| March 30, 2021
Category: Income Tax
Income Tax
Press Note issued by CBIC regarding payment of GST dues during March 2021.
| March 22, 2021
source : https://t.co/v6FbsMUpu9
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Income Tax
Clarification on continuation of concessional rate of tax on certain interest income of the FPIs
| March 20, 2021
Income Tax
Due dates of Filing has been extended as follows:
| January 1, 2021
Income Tax Returns Last Date for Tax Audit Assessees – 15th February, 2021 Income Tax Returns Last Date for Non Tax Audit Assessees – 10th January, 2021 Tax
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Income Tax
CBDT allows time till 31st December, 2020 to update UDIN
| December 16, 2020
A One time relaxation to update UDIN has been enabled. Kindly update the UDIN before 31st December, 2020 of audit report/certificates to avoid invalidation. Source : https://taxguru.in/income-tax/cbdt-time-31st-december-2020-update-udin.html#:~:text=A%20One%20time%20relaxation%20to,report%2Fcertificates%20to%20avoid%20invalidation.
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Income Tax
CBDT to validate Unique Document Identification Number (UDIN) generated from ICAI portal at the time of upload of Tax Audit Reports
| December 15, 2020
Source : https://www.incometaxindiaefiling.gov.in/eFiling/Portal/StaticPDF_News/validate_UDIN_generated_from_ICAI_portal_26_11_20.pdf
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Income Tax
Requirement for Fresh registration of trust under section 12AB has been extended till 01.04.2021
| November 21, 2020
Section 12AB was introduced by Finance Act, 2020 and was supposed to be applicable from 01.06.2020 which was later extended till 01.10.2020 due to the situation of pandemic. Section 12AB
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Income Tax
Extended the due date for furnishing of belated & revised ITRs for Assessment Yr 2019-20 from 30th September, 2020 to 30th November, 2020.Order u/s 119(2a) issued.
| October 6, 2020
On further consideration of genuine difficulties being faced by taxpayers due to the Covid-19 situation, CBDT further extends the due date for furnishing of belated & revised ITRs
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Income Tax
Cash expenses in foreign currency incurred abroad attracts disallowance under section 40A(3) of the Income Tax Act, 1961
| September 29, 2020
Background: In order to deter cash transactions, section 40A(3) was incorporated in the Income Tax Act, 1961 (IT Act). As per this section, a taxpayer who incurs cash
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Income Tax
CBDT lays out five parameters for compulsory selection of returns under faceless assessment
| September 21, 2020
The Central Board of Direct Taxes (CBDT) has prescribed five broad parameters for compulsory selection of returns for complete scrutiny under faceless assessment for FY 2020-21. The Board
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