CBDT

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Breaking: Link Aadhaar- PAN Option Enabled At Income Tax E-filing Portal

Link Aadhaar- PAN option has been enabled at income tax e-filing portal and the same can be accessed by Clicking Here Information about Aadhaar- PAN linking option as mentioned at income tax e-filing portal: As per CBDT circular F.No. 370142/14/22-TPL dated on 30th March 2022, every person who has been allotted a PAN as on …

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CBDT Notifies Faceless Penalty (Amendment) Scheme 2022

Vide Notification No. 54/2022 Dated 27th May 2022, the CBDT has notified Faceless Penalty (Amendment) Scheme, 2022. It shall come into force on the date of its publication in the Official Gazette. In this notification, amendments are made in Faceless Penalty Scheme, 2021. To Download the Notification, Please Click Here

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Breaking: CBDT Notifies JSON Schema For ITR-7

The CBDT, on 20th May 2022, has notified JSON Schema for ITR-7. To Download the Schema, Please Click Here Date of First Release of JSON Schema: 20th May 2022 To Download the Validations, Please Click Here Date of First Release of Validation: 5th May 2022 ITR-7 Notified For AY 2022-23, Please Click Here To Download

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Breaking: CBDT Notifies Common Offline Utilities For ITR-1 To ITR-4 For AY 2022-23

The CBDT, on 20th May 2022, has notified common offline utilities for ITR-1 to ITR-4 for AY 2022-23. To Download the Utility, Please Click Here Date of Utility Release: 20th May 2022 To Download the Utility for MAC, Please Click Here Date of MAC Utility Release: 9th May 2022

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Breaking: CBDT Issues Instructions For Implementation Of Supreme Court Judgement On Section 148 Notices

Vide Instruction No. 01/2022 Dated 11th May 2022, the CBDT has issued instructions to implement Supreme Court judgement in the case of Union of India vs Ashish Agarwal. Procedure required to be followed by the Jurisdictional Assessing Officer/ Assessing Officer, in compliance with the order of the Hon’ble Supreme Court, is as under: The extended …

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CBDT Notifies Income Tax (Fourteenth Amendment) Rules 2022

Vide Notification No. 51/2022 Dated 9th May 2022, the CBDT has notified Income Tax (Fourteenth Amendment) Rules 2022. Following forms are changed through this amendment: Form 3CF Form 10A Form 10AB Form 10BD And other sections/ sub-sections/ clauses as notified in the notification. To Download the Notification, Please Click Here

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CBDT Inserted Rule 114BA And 114BB in Income Tax Rules

Vide Notification No. 53/2022 Dated 10th May 2022, the CBDT has inserted rule 114BA and 114BB in the Income Tax Rules. Section 114BA deals with transactions for the purposes of  clause (vii) of sub-section (1) of  section 139A. Section 114BB deals with transactions for the purposes of sub-section (6A) of section 139A and prescribed person …

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New Update On Income Tax E-Filing Portal You Must Know

Income tax e-filing portal has posted an update that: E-filing of ITR 1, ITR 2 and ITR 4 for AY 2022-23 is enabled ( ITR-1 & ITR-4 offline & online both, ITR-2-only offline). Taxpayers can download ITR Offline Utility through “Downloads” Menu option, fill and file the ITR through the same. Common Offline Utility (ITR-1 …

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These Persons Are Mandatorily Required To File Income Tax Return

Vide Notification dated 21st April 2022, the CBDT has notified category of persons who are now mandatorily required to file income tax return: (i) if his total sales, turnover or gross receipts, as the case may be, in the business exceeds sixty lakh rupees during the previous year; or (ii) if his total gross receipts …

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CBDT Notifies Mandatory Conditions For Filing Income Tax Return

Vide Notification dated 21st April 2022, the CBDT has notified some more mandatory conditions for filing income tax return (ITR). The conditions for furnishing return of income in respect of persons referred to in clause (b) of sub-section (1) of section 139 in terms of clause (iv) of the seventh proviso to sub-section (1) of …

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CBDT Enables UDIN Update Functionality On Income Tax Portal For Forms Filed From June 2021 Onwards

CBDT has enabled UDIN update functionality on income tax portal for forms filed from June 2021 onwards. Points to Note as Mentioned in Guidance Issued by CBDT 1.)Update UDIN functionality is applicable only for Forms submitted on or after April 2021. 2.) UDIN for only those Forms can be updated which are accepted by the …

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CBDT Releases ITR-4 Validation Rules For AY 2022-23

CBDT has released ITR-4 validation rules for Assessment Year 2022-23. Purpose for Releasing ITR-4 Validation Rules The Income Tax Department has provided free return preparation software in downloads page which are fully compliant with data quality requirements. However, there are certain commercially available software or websites that offer return preparation facilities as well. In order …

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CBDT Releases ITR-1 Validation Rules For AY 2022-23

CBDT has released ITR-1 validation rules for Assessment Year 2022-23. This includes: 1.) List of category defect 2.) Category A rules 3.) Category D rules Purpose for Releasing ITR-1 Validation Rules The Income Tax Department has provided free return preparation software in downloads page which are fully compliant with data quality requirements. However, there are …

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CBDT Releases JSON Schema For ITR-1 To ITR-4 For A.Y. 2022-23 (F.Y. 2021-22)

CBDT Releases JSON Schema For ITR-1 To ITR-4 For A.Y. 2022-23 (F.Y. 2021-22)

On 4th April 2022, the CBDT has released JSON Schema for ITR-1, ITR-2, ITR-3 and ITR-4 for the A.Y. 2022-23. Download JSON Schema ITR-1: Download JSON Schema ITR-2: Download JSON Schema ITR-3: Download JSON Schema ITR-4: Download JSON Schema Reportedly, the CBDT has notified ITR-1 to ITR-6 for the A.Y. 2022-23 on 1st April 2022. …

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CBDT Notifies ITR-1 To ITR-6 For A.Y. 2022-23 (F.Y. 2021-22)

CBDT Notifies ITR-1 To ITR-6 For A.Y. 2022-23 (F.Y. 2021-22)

Vide Notification dated 30th March 2022, the CBDT has notified SAHAJ ITR-1, ITR-2, ITR-3, SUGAM ITR-4, ITR-5 and ITR-6, ITR-V and ITR- Ack for the Assessment Year 2022-23 (Financial Year 2021-22). Income Tax (Fourth Amendment) Rules, 2022 have been notified for this purpose. To Download the Notification, Please Click Here

Income Tax Raid: Cash Transactions Of 3000 Crores Detected, CBDT Gave A Big Statement

Income Tax Raid: Cash Transactions Of 3000 Crores Detected, CBDT Gave A Big Statement

The Income Tax department’s action against real estate conglomerate Omaxe on March 14 has now reportedly exposed unaccounted cash transactions of over Rs 3000 crore with customers. Income Tax officials shared this information on Tuesday. It is worth noting that Omaxe is one of the leading real estate developers in Delhi and NCR. The Central …

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CBDT Condones Delay in Filing Form 10-IC For AY 2020-21 Subject To Some Conditions

CBDT Condones Delay in Filing Form 10-IC For AY 2020-21 Subject To Some Conditions

Vide Circular No. 6/2022 Dated 17th March 2022, the CBDT has condoned delay in filing Form 10-IC subject to some conditions. It is said in the Circular that: The delay in filing of Form 10-IC as per Rule 21AE of the Rules for the previous year relevant to A.Y. 2020-21 is condoned in cases where …

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Highest Tax Collection in The History Of Income Tax Department

Highest Tax Collection in The History Of Income Tax Department

A big news has come from the Income Tax Department. In fact, the department has made the highest ever income tax collection in the current financial year. This information has been shared by the Central Board of Direct Taxes. CBDT Chairman JB Mohapatra said that there has been a growth of 48 per cent in …

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CBDT Allows Manual Filing Of Income Tax Form 3CF For Limited Period

CBDT Allows Manual Filing Of Income Tax Form 3CF For Limited Period

Vide Circular No. 5/2022, Dated 16th March 2022, the CBDT has provided relaxation from the requirement of electronic filing of application in Form No. 3CF for seeking approval under section 35(1)(ii)/(iia)/(iii) of the Income-tax Act, 1961. The relaxation has been provided due to non-availability of form on income tax e-filing portal. To Download the Circular, …

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CBDT Reminder For Filing Various Income Tax Forms

CBDT Reminder For Filing Various Income Tax Forms

CBDT is continuously reminding taxpayers and professionals for filing income tax forms. Now on 1st February 2022, CBDT has reminded taxpayers and professionals for filing various income tax forms on income tax e-filing portal. The samples of emails sent by the income tax department to taxpayers/ professionals have been posted at income tax e-filing portal …

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Reply To RTI Reveals Tax Evasion Of 93000 Crore

Reply To RTI Reveals Tax Evasion Of 93000 Crore

The government has detected evasion of Tax. This includes the pre-2017 central excise and service tax. This tax evasion is of Rs 93,375 crore. This has been revealed in an RTI reply, which has been answered by various regional units of the Directorate General of GST Intelligence (DGGI) in major cities across India (Delhi, Mumbai, …

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CBDT Issues Guidelines On Uploading Of Manually Filed Form 15CA And 15CB

CBDT Issues Guidelines On Uploading Of Manually Filed Form 15CA And 15CB

Guidance on uploading of Manually submitted Form 15CA and Form 15CB with Authorised Dealers between 7th June to 15th August 2021 in accordance with Press Release dated 20th July 2021 In accordance with Press release dated 20th July 2021 issued by Central Board of Direct Taxes (CBDT), functionality for uploading Form 15CA and Form 15CB …

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CBDT Notifies Annexure For Audit Report To Be Filed By Sovereign Wealth Fund

CBDT Notifies Annexure For Audit Report To Be Filed By Sovereign Wealth Fund

Vide Notification No. 11/2022, Dated 25th January 2022, the CBDT has notified Annexure for Audit report to be filed by the Sovereign Wealth Fund claiming exemption under clause (23FE) of section 10 of the Income-tax Act, 1961. For this purpose, Annexure notified vide Notification No. 89/2020, Dated 2nd November 2020 has been substituted with the …

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Breaking: Want To Get Quick Resolution From Income Tax Department? Read This Article

The Income Tax Department has notified email format for sharing queries with help-desk emails. Two new emails namely ITR.helpdesk@incometax.gov.in (for ITR-1 to ITR-7) and TAR.helpdesk@incometax.gov.in (for 3CA-3CD, 3CB-3CD) have been launched. The taxpayers are requested to share the relevant details at these emails. This advisory is mentioned at the Income Tax Portal. Email Format for …

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CBDT Issues FAQs On Income Tax Appeal Form (Form 35)

FAQs on Form 35 FAQ 1: While submitting Form 35, the page displays the error “Appeal fees paid should be either of Rupees 250, 500 or 1000 as the case may be” while entering the appeal fees challan details. What should I do? Ans: Open the 4th panel, i.e., “Appeal details” Please ensure that the …

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