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Various measures taken by Government contribute to increase in tax collection
Recently, Ministry of Finance published various measures taken by the Government which contributes to the increase in Tax collections. These figures reflects recovery of economy post COVID-19 and Government highlights better compliances due to various measures have resulted in increase in tax collections
Highlights of Union Budget 2022-23
Highlights of Union Budget 2022-23
Union Budget 2022-23: Mobile App
Union Budget 2022-23 will be presented in paper less format on 1st February 2022 and ministry of Finance through its recent notification informed to the various stakeholder that once the budget will be presented in Parliament, then it will be available on its mobile application
Latest News- CBDT extends due date for filing Income Tax Returns and audit reports for Assessment year 2021-22
CBDT extends due date for filing Income Tax Returns and audit reports for Assessment year 2021-22 to 15th February 2022
Roll out of the new Annual Information Statement (AIS)
Roll out of the new Annual Information Statement (AIS)
Over 2crore Income Tax Returns filed on the e-Filing portal of the Income Tax Department
Over 2crore Income Tax Returns filed on the e-Filing portal of the Income Tax Department
Processing of returns claims under section 143(1) of the Income-tax Act, 1961 beyond the prescribed time limits in non-scrutiny cases
Processing of returns claims under section 143(1) of the Income-tax Act, 1961 beyond the prescribed time limits in non-scrutiny cases
CBDT notifies Rules for implementing the amendments made by the Taxation Laws(Amendment) Act, 2021
The Taxation Laws (Amendment) Act, 2021, inter-alia amended the Income Tax Act, 1961 so as to provide that no tax demand shall be raised in future on the basis of the amendment to section 9 of the Income-tax Act.
Income Tax Department conducts searches in Ahmedabad
Income Tax Departments conducts search and seizures in various parts of the country and recently they did in Ahmedabad and also published its progress on their website, please refer text from the notification:
Gross Direct Tax collections for the Financial Year (FY) 2021-22 register a growth of 47%
Gross Direct Tax collections for the FY 2021-22 register a growth of 47%. Net Direct Tax collections for FY 2021-22 have grown at over 74%
Government extends timelines for linking of PAN Card with Aadhar card
Government further extends timelines for linking PAN Card with Aadhar which is supposed to completed by 30th September 2021 has now been extended to 31st March 2022.
Central Government relaxes provisions of TDS u/s 194A of the Income-tax Act, 1961 in view of section of 10(26) of the Act
Central Government relaxes provisions of TDS u/s 194A of the Income-tax Act, 1961 in view of section of 10(26) of the Act
GOI Notification: Auction for Sale (Re-issue) of (i) ‘4.26% GS 2023’,(ii) ‘6.10% GS 2031’ and (iii) ‘6.76% GS 2061’
GOI Notification: Auction for Sale (Re-issue) of (i) ‘4.26% GS 2023’,(ii) ‘6.10% GS 2031’ and (iii) ‘6.76% GS 2061’
CBDT issues clarification regarding carry forward of losses in case of change in shareholding due to strategic disinvestment
CBDT issues clarification regarding carry forward of losses in case of change in shareholding due to strategic disinvestment
Know all about Account Aggregator Network- a financial data-sharing system
Know all about Account Aggregator Network- a financial data-sharing system
CBDT extends due dates for filing of Income Tax Returns and various reports of audit for Assessment Year 2021-22
CBDT extends due dates for filing of Income Tax Returns and various reports of audit for Assessment Year 2021-22
e-Filing portal of the Income Tax Department – updates
e-Filing portal of the Income Tax Department – updates
CBDT amends Income-tax Rules, 1962 to ease authentication of electronic records submitted in faceless assessment proceedings
CBDT amends Income-tax Rules, 1962 to ease authentication of electronic records submitted in faceless assessment proceedings
CBDT allows taxpayers an opportunity to file application for settlement
CBDT on 7th September 2021 published a notification, allowing taxpayers an opportunity to file an application for settlement
CBDT extends date under section 3 of the Vivad se Vishwas Act
Under Direct Tax Vivad se Vishwas Act, 2020, the amount payable by the declarant is stated in table under section 3 of Vivad se Vishawas Act.
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