Bhutan’s Tax Inspectors Without Borders (TIWB) programme launched on 23rd June, 2021 in partnership with India

RELEVANT EXTRACT  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 Bhutan on 23rd June 2021. India was  chosen as the Partner Jurisdiction and has provided

Income Tax Department conducts searches in Raipur

RELEVANT EXTRACT  Specific actionable intelligence was received by the Income Tax Department that a set of people were to carry out an outside-the-books cash transaction of a substantial amount at Raipur, Chhattisgarh. Upon further investigations, the input was found to be credible and the hawala

Extension of time limits of certain compliances to provide relief to taxpayers in view of the severe pandemic – reg.

RELEVANT EXTRACT  On consideration of genuine hardship being faced by the taxpayers in making various compliances under the Income-tax Act, 1961 (hereinafter referred to as “the Act’’) in view of severe pandemic, the Central Board of Direct Taxes, in exercise of its power under Section

Press Release : Extension in timelines of compliances and tax exemption for expenditure on Covid treatment and ex-gratia received on death due to Covid.

RELEVANT EXTRACT  A. Tax exemption Many taxpayers have received financial help from their employers and well-wishers for meeting their expenses incurred for treatment of Covid-19. In order to ensure that no income tax liability arises on this account, it has been decided to provide income-tax

Clarification for the use of functionality under section 206AB and 206CCA of the Income-tax Act, 1961

RELEVANT EXTRACT  Finance Act, 2021 inserted two new sections 206AB and 206CCA in the Income-tax Act 1961 which takes effect from 1st day of July, 2021. These sections mandate tax deduction or tax collection at higher rate in case of certain non-filers (specified persons). Higher

Press Release regarding : Net Direct Tax collections for the Financial Year 2021-22 have grown at over 100%

RELEVANT EXTRACT  Net Direct Tax collections for the Financial Year 2021-22  have grown at over 100% Advance Tax collections for F.Y. 2021-22 stand at Rs. 28,780crore which  shows a growth of approximately 146% Net Direct Tax collections for the F.Y. 2021-22 have grown at a

Relaxation in electronic filing of Income Tax Forms 15CA/15CB

RELEVANT EXTRACT  As per the Income-tax Act, 1961, there is a requirement to furnish Form 15CA/15CB electronically. Presently, taxpayers upload the Form 15CA, along with the Chartered Accountant Certificate in Form 15CB, wherever applicable, on the e-filing portal, before submitting the copy to the authorized

​Calling for region preference of candidates nominated to the post of Stenographer Grade-II in CBDT through Stenographer Grade ‘C’ & ‘D’ Examination – 2018. (Reminder)

RELEVANT EXTRACT  With reference to this Directorate Memorandum F. No. HRD/CM/127/05/2020-21/646 dated 28.04.2021 uploaded on department's website www.incometaxindia.gov.in in which candidates selected for the post of Stenographer Grade-II in Central Board of Direct Taxes_on the basis of Stenographer Grade 'C' & 'D' Examination 2018, were

Notification No.5 of 2021 ?Procedure for exercise of option under sub-section (1) of section 245M and intimation thereof by furnishing and upload of Form No. 34BB under sub-rule (1) of Rule 44DA of Income-tax Rules, 1962

RELEVANT EXTRACT  Government of India Ministry of Finance Central Board of Direct Tax Directorate of Income Tax (Systems), New Delhi Notification No,05 of 2021 New Delhi, the 24’hMay,2021 Procedure for exercise of option under sub-section (1) of section 245M and intimation thereof by furnishing and

Press Release regarding : Government extends certain timelines in light of severe pandemic

RELEVANT EXTRACT  The Central Government, in continuation of its commitment to address the  hardship being faced by various stakeholders on account of the severe Covid-19  pandemic, has, on consideration of representations received from various stakeholders,  decided to extend timelines for compliances under the Income-tax Act,

Circular regarding extension of time lines related to certain compliances by the Taxpayers under the Income-tax Act 1961

RELEVANT EXTRACT  1. In view of severe pandemic, the Central Board of Direct Taxes, in exercise of its powers under Section 119 of the Income-tax Act, 1961, provides following relaxation in respect of Income-tax compliances by the taxpayers: a) Appeal to Commissioner (Appeals) under Chapter

Press Release regarding : Government extends timelines of certain compliances in light of the severe pandemic

RELEVANT EXTRACT  In view of the adverse circumstances arising due to the severe Covid-19 pandemic and also in view of the several requests received from taxpayers, tax consultants & other stakeholders from across the country, requesting that various compliance dates may be relaxed, the Government