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Direct tax refunds of nearly Rs 1.37 lakh cr issued in FY21

Direct tax refunds of nearly Rs 1.37 lakh cr issued in FY21

🕔06:51, 26.Nov 2020

New Delhi, Nov 26  The Central Board of Direct Taxes (CBDT) has issued refunds of nearly Rs 1.37 lakh crore to over 41.25 lakh taxpayers so far in the financial year 2020-21. The total refund amount includes Rs 36,028 crore

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Direct tax refunds of over Rs 1.36 lakh cr issued in FY21

Direct tax refunds of over Rs 1.36 lakh cr issued in FY21

🕔07:04, 19.Nov 2020

New Delhi, Nov 19  The Central Board of Direct Taxes (CBDT) on Wednesday said that it has issued direct tax refunds refunds of over Rs 1.36 lakh crore to over 40 lakh taxpayers so far in FY21. The total refunded

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CBDT clarifies on 1% TDS on e-commerce transactions

CBDT clarifies on 1% TDS on e-commerce transactions

🕔08:18, 30.Sep 2020

New Delhi, Sep 30  Providing clarification on the 1 per cent tax deducted at source (TDS) on e-commerce transactions, the CBDT on Tuesday said that that the payment gateway will not be required to deduct the tax under section 194-0

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TCS/TDS from Oct 1: Compliance going to be a big challenge

TCS/TDS from Oct 1: Compliance going to be a big challenge

🕔08:00, 30.Sep 2020

New Delhi, Sep 30  The Central Board of Direct taxes (CBDT) has issued a circular (No. 17) clarifying the tax deduction at source (TDS) and tax collection at source (TCS) provisions, which will come into force from October 1. Tax

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CBDT launches faceless income tax appeals

CBDT launches faceless income tax appeals

🕔18:26, 25.Sep 2020

New Delhi, Sep 25 The Central Board of Direct Taxes (CBDT) on Friday launched the Centre’s much-publicised reform measure of faceless income tax appeals. Under faceless appeals, all income tax appeals will be finalised online under the faceless ecosystem with the

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Banks get ‘ITR filing compliance check’ tool to track non-filers

Banks get ‘ITR filing compliance check’ tool to track non-filers

🕔09:07, 3.Sep 2020

New Delhi, Sep 3  The Central Board of Direct Taxes (CBDT) has come up with a new functionality — ITR Filing Compliance Check – for scheduled commercial banks to check IT return filing status of permanent account numbers (PAN) in

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CBDT issued tax refunds of Rs 95,853 cr since April

CBDT issued tax refunds of Rs 95,853 cr since April

🕔08:37, 27.Aug 2020

New Delhi, Aug 27  The Central Board of Direct Taxes (CBDT) has issued refunds of over Rs 95,853 crore to over 25.55 lakh taxpayers so far in the current financial year. The total refunds include income tax refunds of Rs

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I-T Dept conducts raids at several locations in Bhopal

I-T Dept conducts raids at several locations in Bhopal

🕔07:15, 22.Aug 2020

New Delhi, Aug 22  The Income Tax Department has carried out search and seizure operations at various locations in Bhopal, seizing cash and jewellery worth Rs 1.8 crore. A statement issued by the Central Board of Direct Taxes (CBDT) on

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CBDT issues tax refunds of over Rs 88k cr since April

CBDT issues tax refunds of over Rs 88k cr since April

🕔17:11, 21.Aug 2020

New Delhi, Aug 21  The Central Board of Direct Taxes has said that it has so far issued direct tax refunds of over Rs 88,652 crore to more than 24.64 lakh taxpayers in the current financial year. The total refund

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CBDT meets officials to dispel doubts on faceless tax collection

CBDT meets officials to dispel doubts on faceless tax collection

🕔13:19, 19.Aug 2020

New Delhi, Aug 19  The government has assured income tax officials that implementation of the new faceless and contactless tax administration would not cause any large-scale movement of officers or officials and all the changes would be done within the

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SK Gupta frontrunner for CBDT top job after extension

SK Gupta frontrunner for CBDT top job after extension

🕔18:36, 2.Aug 2020

New Delhi, Aug 2  A routine looking order by the Appointments Committee of the Cabinet (ACC) marks a rare case, if not a first for the Central Board of Direct Taxes (CBDT). The order makes S.K. Gupta probably the first

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Satish Kumar Gupta re-appointed as member of CBDT for one year

Satish Kumar Gupta re-appointed as member of CBDT for one year

🕔07:00, 28.Jul 2020

New Delhi, July 28  The Appointments Committee of the Cabinet (ACC) has approved the re-appointment of Satish Kumar Gupta as a member of the Central Board of Direct Taxes (CBDT) upon his superannuation on July 31 for a period of

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CBIC, CBDT sign MoU for bilateral data exchange

CBIC, CBDT sign MoU for bilateral data exchange

🕔07:20, 22.Jul 2020

New Delhi, July 22  The Central Board of Direct Taxes (CBDT) and the Central Board of Indirect Taxes and Customs (CBIC) on Tuesday signed a Memorandum of Understanding (MoU), for data exchange between the two organisations. The MoU was signed

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CBDT, MSME Ministry sign pact for sharing tax related data

CBDT, MSME Ministry sign pact for sharing tax related data

🕔07:22, 21.Jul 2020

New Delhi, July 21  The Central Board of Direct Taxes (CBDT) and the Ministry of Micro, Small and Medium Enterprises on Monday signed a MoU for sharing of tax related data concerning SMEs. The MoU will facilitate seamless sharing of

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CBDT completes Rs 71K refunds to help taxpayers with liquidity

CBDT completes Rs 71K refunds to help taxpayers with liquidity

🕔07:39, 18.Jul 2020

New Delhi, July 18  The Central Board of Direct Taxes (CBDT) has issued refunds amounting to Rs 71,229 crore in more than 21.24 lakh cases by July 11 to help taxpayers with liquidity in Covid-19 pandemic days. The government, on

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CBDT allows one-time relaxation for e-filed ITR verification

CBDT allows one-time relaxation for e-filed ITR verification

🕔07:08, 14.Jul 2020

New Delhi, July 14 The CBDT has extended a one-time relaxation for verification of e-filed tax returns for assessment years 2015-16 to 2019-20. A circular by the Central Board of Direct Taxes (CBDT) on Monday said that that a large number

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CBDT provides utility for TDS rates on cash withdrawals

CBDT provides utility for TDS rates on cash withdrawals

🕔07:20, 13.Jul 2020

New Delhi, July 13 The Income Tax Department has facilitated a new functionality for banks and post offices to ascertain TDS applicability rates on cash withdrawal of above Rs 20 lakh in case of a non-filer of the income-tax return and

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CBDT, SEBI sign MoU for data exchange

CBDT, SEBI sign MoU for data exchange

🕔07:35, 9.Jul 2020

New Delhi, July 9 The Central Board of Direct Taxes (CBDT) and the Securities and Exchange Board of India (SEBI) on Wednesday signed a Memorandum of Understanding (MoU) for data exchange between the two organisations. The MoU was signed by

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Covid-19 relief for taxpayers: Govt extends time limit of tax compliances

Covid-19 relief for taxpayers: Govt extends time limit of tax compliances

🕔09:50, 25.Jun 2020

New Delhi, June 25  The Central Board of Direct Taxes (CBDT) on Wednesday issued notification to provide further relief to taxpayers by extending various time limits of compliances. Accordingly, the time for filing of original as well as revised income-tax

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CBDT notifies modified IT return forms for FY 19-20

CBDT notifies modified IT return forms for FY 19-20

🕔13:05, 1.Jun 2020

New Delhi, May 31 The Central Board of Direct Taxes (CBDT) has notified new Income Tax Return forms for the Assessment Year 2020-21 or the financial year 2019-20. The modifications come in the backdrop of the coronavirus pandemic. In a

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