Category: INCOME TAX

CBDT clarification regarding carry forward of losses in case of change in shareholding due to strategic disinvestment Aims to make disinvestment deals more attractive for strategic investors In order to...

The Income Tax Department carried out search and seizure operations on two real estate business groups of Mumbai and certain individuals/ entities associated with them. The search operations commenced on 07.10.2021 and...

please follow the below steps: First of all go to the official website www.incometax.gov.in.enter the User ID and Password.When you login, you will see the option of e-filing.In the e-file...

The e-filing portal of the Income Tax Department (www.incometax.gov.in) has marked receipt of more than 2 crore Income Tax returns as on 13th October 2021. The new portal was launched on 7th June, 2021 and in...

The e-filing portal of the Income Tax Department (www.incometax.gov.in) has marked receipt of more than 2 crore Income Tax returns as on 13th October 2021. The new portal was launched on 7th June, 2021 and in...

Undisclosed income of Rs 750 crore has been unearthed as a result of a five-day search operation by the Income Tax department in Karnataka and three other states. During this...

The Income Tax Department carried out search and seizure operations in the case of three major contractors based out of Bengaluru engaged in the execution of irrigation and highway projects....

By Notification dated 11th October 2021, CBDT Exempts Certain Class of Persons From Filing ITR Under Section 139(1) of the Income Tax Act Subject to Some Conditions.

The Income Tax Department conducted searches on 05/10/2021 in two cases of Kanchipuram, one being a Chit Fund and Financing Group and the other a retailer of Silk Sarees and...

The Income Tax Department carried out search & seizure operations on 06.10.2021 on a major Pharmaceutical group based out of Hyderabad. This Pharmaceutical group is engaged in the business of manufacturing of...

The Income Tax Department carried out search and seizure operations on 05.10.2021 in the case of two groups based in the North-East Region and West Bengal. A total of 15...

Income Tax Department conducts searches on certain businessmen/middlemen in Maharashtra The Income Tax Department carried out a search operation that commenced on 23.09.2021 on a big syndicate involving certain businessmen/middlemen...

CBDT issues refunds of over Rs. 82,229 crore to more than 53.54 lakh taxpayers from 1st April, 2021 to 04th October, 2021. Income tax refunds of Rs. 20,510 crore have...

Following are the steps to link PAN to Aadhaar card-  Visit the official Income Tax Department e-filing websiteClick on ‘Link Aadhaar’Enter all the detailsTick the box if your date of...

Government takes note of the data trove in the 'Pandora Papers' leak.Govt issues directions that investigation in cases of Pandora Paper leaks as appearing in the media under the name...

Tax Inspectors Without Borders (TIWB), a joint initiative of the United Nations Development Programme (UNDP) and the Organisation for Economic Cooperation and Development (OECD), launched its programme in Seychelles on...

The Income Tax Department carried outa search and seizure operation on 30.09.2021 on 37 premises spread across multiple cities including Mumbai, Pune, Noida & Bangalore. These groups/individuals were in varied...

Due Dates Tracker COMPLIANCE REQUIREMENT UNDER INCOME TAX ACT, 1961 Sl.Compliance ParticularsDue Dates1Due date of depositing TDS/TCS liabilities under Income Tax Act, 1961 for previous month.07.10.20212.Due date deposit of TDS...

ITR can be filled both offline and online. However, for taxpayers who need to fill more data, offline mode is the only option. For filing in offline mode, JSON utility...

The Taxation Laws (Amendment) Act, 2021 (2021 Act), inter-alia, amended the Income-tax Act, 1961 (Income-tax Act) so as to provide that no tax demand shall be raised in future on the basis...

The Income Tax Department carried out search & seizure operations on 28.09.2021 on a real estate developer group and the brokers connected with this group. Total of 22 residential and...