Category: <span>INCOME TAX</span>

INCOME TAX

Section 206AB & Section 206CCA – Implementation Guide (Including reference to all relevant circulars)

ANIL KUMARAugust 1, 2021August 1, 2021

As per Section 57 of Finance Act 2021 which is given effect from 1/07/2021- Section 206 AB and 206CCA was introduced which specifies deduction of TDS/TCS at double the rate...

INCOME TAX

BREAKING: Income Tax Department conducts searches in Kanpur the business of manufacturing Pan Masala and in real estate

PIBJuly 31, 2021July 31, 2021

The Income Tax Department carried out a search action on 29.07.2021 on a large group based in Kanpur and Delhi. The group is in the business of manufacturing Pan Masala...

INCOME TAX

Income Tax Alert! Fill this form related to income tax soon, no chance will be available after July 31

TaxtimesJuly 31, 2021July 31, 2021

In a big relief to the taxpayer, the Central Board of Direct Taxes (CBDT) has extended the deadline for filing income tax returns for the financial year 2020-21 and assessment...

INCOME TAX

New Portal of Income Tax: Improvements in the new portal of Income Tax Department! So many lakh ITRs filed

TaxtimesJuly 31, 2021July 31, 2021

The Income Tax Department launched its new portal last month. Then there were complaints of many technical glitches in this portal. More than 25 lakh Income Tax Returns (ITR) have...

INCOME TAX

IT Refund: Income Tax Department sent Rs 43,991 crore to taxpayers till July 26

TaxtimesJuly 31, 2021July 31, 2021

CBDT issues refunds of over Rs. 43,991 crore to more than 21.03 lakh taxpayers between 1st April, 2021 to 26th July, 2021. Income tax refunds of Rs. 13,341 crore have...

INCOME TAX

CBDT Notifies Income Tax (21st Amendment) Rules 2021. Know What Changes are Made through this Amendment

Dhanraj SharmaJuly 29, 2021

Vide Notification dated 29th June 2021, the CBDT has notified Income Tax (21st Amendment) Rules 2021. Notification attached for your kind reference:

INCOME TAX

Income Tax Department conducts searches in Jharkhand dealing in building construction and real estate

TaxtimesJuly 29, 2021July 29, 2021

Income Tax Department carried out a search operation on 28.07.2021 on a prominent group in Jharkhand dealing in building construction and real estate. The search began on 28.07.2021 in Ranchi and...

INCOME TAX

CBDT Notifies Income Tax (20th Amendment) Rules 2021. Know What Changes are Made through this Amendment

Dhanraj SharmaJuly 28, 2021July 28, 2021

Vide Notification dated 27th June 2021, CBDT has notified Income Tax (20th Amendment) Rules 2021. Vide this notification, amendments have been made in Rule 12 of the Income Tax Rules...

INCOME TAX

Income Tax Return : Let us know who are those works which have to be settled before 31st July

TaxtimesJuly 28, 2021July 28, 2021

Let us know who are those works which have to be settled before 31st July : Full details of income paid by the investment fund in the financial year 2020-21...

INCOME TAX TC VIP Content

Due Date Extended for ITR Filing of FY 2020-21 But Still You Have to Pay Interest. Know When and How Much

Dhanraj SharmaJuly 27, 2021July 31, 2021

Due date for individual income tax return for the FY 2020-21 (AY 2021-22) has been extended to 30th September, 2021 by the CBDT. Hence, the returns of income which are...

INCOME TAX

Income Tax Department carried out a search operation under section 132 of the Income – tax Act, 1961

taxconceptJuly 26, 2021

Income Tax Department carried out a search operation under section 132 of the Income - tax Act, 1961 on 22.07.2021 on a prominent business group, which is involved in businesses...

INCOME TAX

Income Tax Department conducts searches group in Uttar Pradesh dealing in Mining

taxconceptJuly 26, 2021

Income Tax Department carried out a search operation on 22.07.2021 on a group in Uttar Pradesh dealing in Mining, Hospitality, News Media, Liquor and Real Estate. The search began in...

INCOME TAX

Breaking: CBDT Issues Press Release on Search Operations Carried Out by Income Tax Department at Premises Related to Dainik Bhaskar Group

Dhanraj SharmaJuly 24, 2021July 24, 2021

Income Tax Department carried out a search operation under section 132 of the Income - tax Act, 1961 on 22.07.2021 on a prominent business group, which is involved in businesses...

INCOME TAX

Extension in ITR filing deadline does not mean relief from interest penalties

CA Jayprakash PandeyJuly 24, 2021July 24, 2021

Extension in ITR filing deadline does not mean relief from interest penalties 1) The last date to file income tax return for the financial year 20-21 has been extended to...

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39th Weekly Corporate Affairs Newsletter Only for TC VIP Users

CS LALIT RAJPUTJuly 23, 2021July 23, 2021

We thought it would help to give you a sense of what's available to you by subscribing to this 39th WEEKLY CORPORATE AFFAIRS Newsletter- · SEBI Updates · MCA Updates · RBI Updates · IBC Law Updates · Labour...

INCOME TAX TC VIP Content

Important updates for Individual and HUF- No need to file Form 10-IE in case ITR 1 or ITR 2

CA Jayprakash PandeyJuly 22, 2021July 22, 2021

Option to opt for the new tax regime will be available for the taxpayers filing return of ITR 1 or ITR 2 in the return itself. There is no need...

INCOME TAX

TDS Return Filed within Due Date but Processed with Demand on New Income Tax Portal

Dhanraj SharmaJuly 22, 2021July 22, 2021

After the launch of new income tax portal on 7th June 2021, there are several glitches on the portal which are not resolved till date. Some are related to ITRs...

INCOME TAX

Have the problems of the new Income Tax Portal gone right? Know what the government gave Reply in Parliament

taxconceptJuly 21, 2021July 21, 2021

The issue of technical difficulties in the new income tax portal also arose in the Parliament. The government has informed the Parliament about the problems of the portal. The government...

INCOME TAX

Some Professionals want to Go Back to Earlier Income Tax Portal Whereas Some are Advising Government to Provide Cooling Period to Infosys

Dhanraj SharmaJuly 18, 2021July 18, 2021

As new income tax portal is not fully operational since its launch on 7th June 2021, professionals are not able to file ITRs, other forms. Consequently, all stakeholders are in...

INCOME TAX

INCOME TAX RETURN: Now you will also be able to do ITR file in your nearest Post Office, know how?

taxconceptJuly 18, 2021July 18, 2021

Now filing IT return will be easy, because India Post is also now giving you the facility to file ITR at the Common Service Center (Post Office, CSC) counter of...

INCOME TAX TC VIP Content

Income Tax Quarterly Updates (April 2021 to June 2021)- Including Covid-19 relaxations / updates

CA Heer GajjarJuly 17, 2021July 17, 2021

Income Tax Quarterly Updates (April 2021 – June 2021)- Including Covid-19 relaxations / updates Income Tax is the tax that is collected by the Central Government for each financial year...

INCOME TAX

Big Issue! Infosys has not Yet Provided Access to Software Providers Where Lakhs of ITRs are Ready to File

Dhanraj SharmaJuly 17, 2021

Nearly 1.5 months are over since the launch of new income tax portal but Infosys has not yet provided access to software providers. On this issue, CA Atul Modani tweeted...

INCOME TAX

This is Big: CA Regulation does not Authorize ICAI to Share Contact Details of Students/ Members to Central Council Members (CCMs) but CCMs are Sending Messages to Qualified CAs

Dhanraj SharmaJuly 16, 2021July 16, 2021

A Recently Qualified CA Nagachandra Somu tweeted that a CCM messaged him after he qualified CA. After receiving the message, he filed an RTI application to know whether CCMs can...

INCOME TAX

See! How New Income Tax Portal is Showing Simple Calculation Mistakes in ITRs

Dhanraj SharmaJuly 16, 2021July 16, 2021

The new income tax portal is in news after its launching on 7th June 2021. Sometimes it is getting very slow and sometimes it is rejecting filed returns. But now,...

INCOME TAX

Alert! New Income Tax Portal is Sending Panic Messages to Taxpayers

Dhanraj SharmaJuly 15, 2021July 15, 2021

Few professionals tweeted in recent days that new income tax portal is rejecting TDS returns. Now, a professional named CA Sanjeev Lalan has tweeted that "now clients are getting messages...

INCOME TAX

Shocking.! Infosys Claims 1 Lakh ITRs Filed on New Income Tax Portal, Income Tax Department Said No Any Data Available of ITR Filing at New Portal

Dhanraj SharmaJuly 14, 2021July 14, 2021

Infosys recently claimed that 1 lakh ITRs were filed till 21st June 2021 on New Income Tax E-filing Portal. Against this claim of Infosys, a professional named CA Pallaav Parashar...

INCOME TAX

Breaking: Calcutta High Court Grants Stay on Deduction of Tax at Source Under Section 194N of the Income Tax Act

Dhanraj SharmaJuly 12, 2021July 12, 2021

In a writ petition filed in Calcutta High Court, a petitioner has challenged the constitution validity of Section 194N of the Income Tax Act 1961. Considering the facts submitted by...

INCOME TAX

A month after its launch, how is the new income tax website going now?

taxconceptJuly 12, 2021July 12, 2021

It has been a month since the new Income Tax Portal was launched, but so far its technical shortcomings have not been overcome. The Finance Minister had also reviewed the...

INCOME TAX

Income Tax Recruitment 2021: 155 Vacancies Released for Inspector, Other Posts Under Sports Quota

Dhanraj SharmaJuly 11, 2021July 11, 2021

The Income Tax department has invited applications to fill up 155 vacancies for meritorious candidates under the sports quota. Out of the total vacancies, 8 are for the post of...

INCOME TAX

Updated Some important dates related to income tax

taxconceptJuly 11, 2021July 11, 2021

The Income Tax Department has extended the deadline for completing many tasks related to income tax for the convenience of taxpayers. In a notification issued by the Ministry of Finance,...

Category: INCOME TAX

Section 206AB & Section 206CCA – Implementation Guide (Including reference to all relevant circulars)

BREAKING: Income Tax Department conducts searches in Kanpur the business of manufacturing Pan Masala and in real estate

Income Tax Alert! Fill this form related to income tax soon, no chance will be available after July 31

New Portal of Income Tax: Improvements in the new portal of Income Tax Department! So many lakh ITRs filed

IT Refund: Income Tax Department sent Rs 43,991 crore to taxpayers till July 26

CBDT Notifies Income Tax (21st Amendment) Rules 2021. Know What Changes are Made through this Amendment

Income Tax Department conducts searches in Jharkhand dealing in building construction and real estate

CBDT Notifies Income Tax (20th Amendment) Rules 2021. Know What Changes are Made through this Amendment

Income Tax Return : Let us know who are those works which have to be settled before 31st July

Due Date Extended for ITR Filing of FY 2020-21 But Still You Have to Pay Interest. Know When and How Much

Income Tax Department carried out a search operation under section 132 of the Income – tax Act, 1961

Income Tax Department conducts searches group in Uttar Pradesh dealing in Mining

Breaking: CBDT Issues Press Release on Search Operations Carried Out by Income Tax Department at Premises Related to Dainik Bhaskar Group

Extension in ITR filing deadline does not mean relief from interest penalties

39th Weekly Corporate Affairs Newsletter Only for TC VIP Users

Important updates for Individual and HUF- No need to file Form 10-IE in case ITR 1 or ITR 2

TDS Return Filed within Due Date but Processed with Demand on New Income Tax Portal

Have the problems of the new Income Tax Portal gone right? Know what the government gave Reply in Parliament

Some Professionals want to Go Back to Earlier Income Tax Portal Whereas Some are Advising Government to Provide Cooling Period to Infosys

INCOME TAX RETURN: Now you will also be able to do ITR file in your nearest Post Office, know how?

Income Tax Quarterly Updates (April 2021 to June 2021)- Including Covid-19 relaxations / updates

Big Issue! Infosys has not Yet Provided Access to Software Providers Where Lakhs of ITRs are Ready to File

This is Big: CA Regulation does not Authorize ICAI to Share Contact Details of Students/ Members to Central Council Members (CCMs) but CCMs are Sending Messages to Qualified CAs

See! How New Income Tax Portal is Showing Simple Calculation Mistakes in ITRs

Alert! New Income Tax Portal is Sending Panic Messages to Taxpayers

Shocking.! Infosys Claims 1 Lakh ITRs Filed on New Income Tax Portal, Income Tax Department Said No Any Data Available of ITR Filing at New Portal

Breaking: Calcutta High Court Grants Stay on Deduction of Tax at Source Under Section 194N of the Income Tax Act

A month after its launch, how is the new income tax website going now?

Income Tax Recruitment 2021: 155 Vacancies Released for Inspector, Other Posts Under Sports Quota

Updated Some important dates related to income tax

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