The Income Tax department extended the income tax filing dates for the thrid time. Individuals who do not have to file tax audit reports and were to file their income tax returns for FY20 by 31 December got time till January 10.
In view of the continued challenges faced by taxpayers in meeting statutory compliances due to the outbreak of COVID-19, the government on Wednesday further extends the dates for various compliances.
At the close of deadline for filing ITRs without payment of late fees for fiscal 2018-19 (assessment year (AY) 2019-20), over 5.65 crore returns were filed by taxpayers.
As the deadline to file ITR by individuals nears, the tax department also urged people to file their ITR for assessment year (AY) 2020-21 early to avoid last minute rush.
Karnataka Congress chief DK Shivakumar has been summoned by the Central Bureau of Investigation on November 25, 2020 in connection with the CBI raid that took place at his residence on October 5.
Union Finance Minister Nirmala Sitharaman on Thursday announced income tax relaxations to allow sale of primary residential units of up to Rs 2 crore value below the circle rate. So far, only 10 per cent difference between the circle rate and the agreement value was allowed.
PM Modi on Wednesday inaugurated the state-of-the-art-office cum residential complex of Income Tax appellate Tribunal-ITAT in Cuttack, Odisha. Addressing the event via video conferencing, PM Modi said, "India among select nations which recognise taxpayers' rights and responsibilities; step towards creating trust in tax system."
ITR Filing: The Finance Ministry has notified the extended due date for Income Tax Return (ITR) filing by individual taxpayers for FY 2019-20.
The conditions listed out by the CBDT for availing the tax exemption under the LTC cash voucher scheme require the employee to spend a sum equal to three times of the value of the deemed LTC fare.
The Income Tax department has issued refunds worth over Rs 1.26 lakh crore to over 39 lakh taxpayers this fiscal so far.
The Income Tax Department has recovered cash and jewellery worth about Rs 5.26 crore after it carried out multi-city raids against hawala operators and individuals who prepare fake bills, the CBDT said on Tuesday.
ITR Filing: The last date for Income Tax Return (ITR) filing by individual taxpayers for FY 2019-20 has been extended by a month by the Income Tax Department. All Income Tax Returns can now be filed latest by December 31, 2020.
A team of Income Tax officials on Thursday issued a notice to Congress after money was recovered from a vehicle parked outside its Patna office. One person detained outside the campus of the office after Rs 8.5 Lakh was recovered from him.
ITR Filing: The last date for Income Tax Return (ITR) filing for 2019-20 has been extended by two months till November 30 by the Income Tax Department on Wednesday.
The Income Tax Department on Tuesday issued guidelines for applicability of TCS provision which requires an e-commerce operator to deduct 1 per cent tax on the sale of goods and services with effect from October 1.
The Central Board of Direct Taxes (CBDT) on Friday launched the Centre's much-publicised reform measure of faceless income tax appeals.
NCP chief Sharad Pawar on Tuesday said the Income Tax department has served him a notice in connection with his poll affidavits submitted to the Election Commission.
The Madras High Court has ordered a notice to composer A R Rahman on an appeal made by the Principal Commissioner of Income Tax against the decision of the Income Tax Appellate Tribunal (ITAT) that went in favour of the music composer.
Aam Adami Party's (AAP), Member of Legislative Assembly (MLA), Saurabh Bharadwaj hit back on Bharatiya Janata Party (BJP) over allegation that AAP has connections with hawala operators.
The Income Tax department on Friday said it has issued refunds worth Rs 88,652 crore to over 24 lakh taxpayers so far this fiscal.
Top News
Latest News
