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.
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
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
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
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
The income tax department on Tuesday launched a massive search operation on some Chinese individuals and their Indian associates and some bank employees spread across Delhi, Gurgaon and
CBDT notifies *new Form 26AS [Annual Information Statement] pursuant to Finance Act, 2020 amendment, inserts new Rule 114-I to be effective from June 1st and omits Rule 31AB;
The Finance Minister Nirmala Sitharaman has launched the facility for instant allotment of PAN (on near to real time basis). This facility was announced in the Union Budget 2020 by
