With the objective of benefitting the hard-working middle class of the country, Union Minister for Finance and Corporate Affairs, Smt. Nirmala Sitaraman made five major announcements with respect to personal income tax while presenting the Union Budget 2023-24 in Parliament today. […]
Income Tax Department carried out search and seizure operations on 15.06.2022 on a leading manufacturer and seller of Jamawar Shawls, Pashmina, and Kashmiri Shawls.
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Moving beyond text-based literature, awareness seminars, and workshops, the Central Board of Direct Taxes (CBDT) has adopted a novel approach to spread tax literacy through ‘learn by play’ methods. […]
The Income Tax Department carried out a search and seizure operation on 14.03.2022 on a popular chain of educational institutes, running several schools and colleges at multiple locations in India and abroad. […]
The Cabinet Committee has approved increase the Dearness Allowance to Central Government employees and Dearness Relief to pensioners from 17% to 28% representing an increase of 11% […]
In view of the difficulties reported by taxpayers in electronic filing of Income Tax Forms 15CA/15CB on the portal www.incometax.gov.in has been decided to extend the aforesaid date to 15th July, 2021 […]
The Income Tax Department today launched Faceless Income Tax Appeals. Under Faceless Appeals, all Income Tax appeals will be finalised in a faceless manner under the faceless ecosystem with the exception of appeals relating to serious frauds […]
MOS Anurag thakur says that the Government announced several measures to promote growth, investment and create new employment opportunities through the amendments in the Income-tax Act, 1961 and the Finance Act […]
A formal Memorandum of Understanding (MOU) was signed today between the Central Board of Direct Taxes (CBDT) and the Ministry of Micro, Small and Medium Enterprises, Government of India (MoMSME) for sharing of data by CBDT to MoMSME. […]
The Income Tax Department is all set to start an e-campaign on voluntary compliance of Income Tax for the convenience of taxpayers from Monday, the 20th of July, 2020. […]
The new Form 26AS is the faceless hand-holding of the taxpayers to e-file their income tax returns quickly and correctly. From this Assessment Year, taxpayers will see an improved Form 26AS which would carry some additional details on taxpayers’ financial transactions as specified in the Statement of Financial Transactions (SFTs) in various categories. […]
Government of India has put an end to all rumours concerning the proposal to merge the Central Board of Direct Taxes and Central Board of Indirect Taxes and Customs […]
In pursuance to the Government’s decision vide Press Note dated April 8th, 2020 to issue pending income tax refunds in order to help taxpayers in a COVID-19 pandemic situation, the Income Tax Department has issued tax refunds at a speed of 76 cases per minute from 8th April to 30th June, 2020. […]
In a major move towards GST taxpayers’ facilitation, the Government has decided to provide the facility of SMS filing of NIL statement of FORM GSTR-1from 1st week of July 2020. […]
The GST Compensation of Rs.1,15,096 crore for period April-November, 2019 had already been released by the Central Government to the States/ UTs with Legislature. […]
Smt. Nirmala Sitharaman formally launched the facility for instant allotment of PAN using Aadhar Card based eKYC verification […]
The Government of India hereby notifies that the 7.75 percent Savings (Taxable) Bonds, 2018 hall cease for subscription with effect from Thursday, the 28th of May, 2020. […]
CBDT issues Tax Refunds amounting to Rs. 26,242 crore issued since 1st April, 2020 […]
The CBDT decided to implementation of a new procedure for approval/ registration/notification of certain entities shall be deferred to 1st October, 2020. […]
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