The Income Tax Department has carried out searches on 29.10.2020 in the cases of four prominent contractor groups based in Patna, Bhagalpur, Hilsa, and Katihar. In addition, surveys have been conducted on some traders of mined rocks in Gaya. All the four groups have been found to have been evading … [Read more...]
Income-tax Exemption for payment of deemed LTC fare for non-Central Government employees
In view of the COVID-19 pandemic and resultant nationwide lockdown as well as disruption of transport and hospitality sector, as also the need for observing social distancing, a number of employees are not able to avail of Leave Travel Concession (LTC) in the current Block of 2018-21. With a view … [Read more...]
Direct Tax Collections for F.Y. 2018-19 up to November, 2018
Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi, 10th December, 2018 PRESS RELEASE Direct Tax Collections for F.Y. 2018-19 up to November, 2018 The provisional figures of Direct Tax collections up to November, 2018 show that gross … [Read more...]
No TDS on Interest paid to senior citizens up to aggregate of Rs.50000 – Notification
F. No. Pr. DGIT(S)/CPC(TDS)/Notification/2018-19 Notification No. 06/2018 Government of India Ministry of Finance Central Board of Direct Taxes Directorate of Income-tax (Systems) New Delhi Notification No. 06 /2018 06th December, 2018 Subject: — TDS deduction under section 194A of … [Read more...]
Revision of monetary limits for filing of appeals by the Department
Circular No. 3/2018 F No 279/Misc. 142/2007-ITJ (Pt) Government of India Ministry of Finance Department of Revenue Central Board Direct Taxes New Delhi the 11th July, 2018 Subject: Revision of monetary limits for filing of appeals by the Department before Income Tax Appellate Tribunal, High … [Read more...]
How to get free of cost new e-PAN?
The free of cost e-PAN facility is available on www.incometaxindiaefiling.gov.in for the limited period. Following are the basic requirements for the application: - The applicant already have PAN should not apply for e-PAN. This e-PAN facility is available only for resident individual … [Read more...]
Prompt investigation in fresh series of cases pertaining to Panama Papers
Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi, 21st June, 2018 PRESS RELEASE Prompt investigation in fresh series of cases pertaining to ‘Panama Papers’ The fresh release made in the media today under ‘Panama Paper Leaks’ is … [Read more...]
Any taxpayer who is in receipt of pension from his former employer shall be entitled to claim standard deduction
Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi, 5th April, 2018 PRESS RELEASE Clarification regarding applicability of standard deduction to pension received from former employer Finance Act, 2018 has amended Section 16 of the … [Read more...]
CBDT notifies Income Tax Return Forms for Assessment Year 2018-19
Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi, 5th April, 2018 PRESS RELEASE CBDT notifies Income Tax Return Forms for Assessment Year 2018-19 The Central Board of Direct Taxes(CBDT) has notified Income Tax Return Forms (ITR Forms) … [Read more...]
PAN and TAN mentioned in the COI issued by MCA shall be treated as sufficient proof of PAN and TAN
Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi, 14th April, 2018 PRESS RELEASE Requirement for obtaining PAN card u/s 139A of IT Act, 1961 eased for corporate assessees In case of a company, an application for incorporation, allotment of … [Read more...]
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