The Income Tax Department has introduced the ‘Jhatpat Processing’ with the tagline of File Karo Jhat Se, Processing Hogi Pat Se. The departmenthas introduced a new technologically upgraded platform CPC 2....
The new registration procedure prescribed under section 12AB for Charitable Trusts and Institutions introduced by the Finance Act, 2020 has been deferred and extended to 1st April, 2021 by the Taxation and Other Law...
The Income Tax Department issued instructions for filing of Income Tax Return (ITR) 2, 3, 5, 6 & 7 for better clarity. The department while issuing the Instruction for use of offline utilities guided that the tax...
In a statement, the Department of Revenue (DoR) reiterated that there will be no extra compliance burden on the taxpayers for GST turnover displayed in the Form 26AS. "The GST turnover is being shown in 26AS ju...
Form 26AS i.e. Annual Information Statement will now include monthly GST turnover based on the GSTR-3B for the relevant year. CBDT vide Order dated 29/09/2020 had authorized regarding uploading Information r...
As part of the AatmaNirbhar Bharat Package 3.0 as announced by Hon’ble Finance Minister on 12th November, 2020, certain income tax relief measures were brought in for real-estate developers and home buyers. Up t...
New Update : Extension of Due Date of TAR and filing of ITR for AY 2020-21 Read more here : https://taxninja.in/blog/extension-of-due-date-of-tar-and-filing-of-itr-for-ay-2020-21 After various represent...
Note : CBDT has further extended Due Date of Tax Audit Report and filing of ITR for AY 2020-21 Read more here : https://taxninja.in/blog/cbdt-extends-due-date-of-tax-audit-report-and-filing-of-itr-for...
CBDT has issued press note clarifying doubts arising on the applicability of TCS provisions introduced vide Finance Act, 2020. Key Points of the Press Release are as follows: TCS to be applied only in cases...
CBDT has issued Guidelines under section 194-0 (4) and section 206C (1-1) of the Income-tax Act, 1961 vide Circular No. 17/2020 dated 29/09/2020.The following Circular deals with the applicability of transactions ca...
