Nitin Gupta to continue as CBDT chairman till June 2024
The extension has been sanctioned by the Appointments Committee of the Cabinet (ACC).
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CBDT extends due date for filing Form 10B/10BB, ITR-7 till October 31
The earlier deadline was scheduled to lapse on September 30. While Form 10B pertains to charitable institutions and religious trusts, Form 10BB is required to be filled by educational institutions and medical institutions.
FM Nirmala Sitharaman bashes CBDT & CBIC for not addressing tax grievances
Sitharaman intruded and pulled up the Central Board of Direct Taxes (CBDT) and Central Board of Indirect Taxes & Customs (CBIC) officers.
Government exempts Air India to pay taxes on its transfer of assets to SPV Air India Holdings Ltd
In a series of guidelines, the Central Board of Direct Taxes (CBDT) has averred that no TDS shall be deducted under section 194Q in case of transfer of goods by Air India Ltd to AIAHL.
Deadline for e-filing of various IT forms extended by CBDT
The dates of submission were postponed by the CBDT due to the issues faced by taxpayers and other stakeholders in the electronic filing of these forms.
CBDT has identified Rs20,000 crore assets in Panama Papers Case, recovered Rs142 crore
The data point was revealed by the Central Board of Direct Taxes(CBDT) while replying to an RTI query filed by The Indian Express.
New Income Tax Return Forms: All you need to know for AY 2021-22!
The assessment year (AY) for income earned in the financial year (AY) 2020-21 is 2021-22.
CBDT issues income tax refund of Rs 1,29,190 crore to 39.49 lakh taxpayers
The CBDT issued income tax refunds of Rs 34,820 crore in 37,55,428 cases and Rs 92,370 crore in 1,93,059 cases.
SEBI’s reversal trade settlement causes loss to Income Tax Department
And it has reached such a scale that market regulator SEBI has chosen to offer a one-time settlement to nearly 15,000 practitioners of the technique, instead of fighting long drawn-out cases in the court. These trades took place on the BSE’s derivatives segment between April 2014 and April 2015.
Finance Ministry extends revised income tax returns till September 30
The government has formally extended the date to file revised income tax returns for the financial year 2018-19, to September 30, 2020 from the earlier date of July 31, 2020.
Tax exemption on income through sovereign wealth funds: IT Dept
The Income Tax Department has notified tax exemption on income arising out of global funds concentrated on creating infrastructure in the country.