Extension of timelines for filing of Income-tax returns and various reports of audit for the Assessment Year 2021-22

Posted by & filed under Income Tax.

On consideration of difficulties reported by the taxpayers and other stakeholders due to COVID and in electronic filing of various reports of audit under the provisions of the Income-tax Act,1961 (Act), the Central Board of Direct Taxes (CBDT), in the exercise of its powers under Section 119 of the Act, provides relaxation in respect of… Read more »

Covid -19 India Relaxes Income Tax deadlines & penalties

Posted by & filed under Income Tax.

Following are the decisions with respect to statutory and regulatory compliance matters related to various sectors: Income Tax 1.     Extend last date for income tax returns for (FY 18-19) from 31st March 2020  to  30th June 2020. 2.     Aadhaar-PAN linking date to be extended from 31st March 2020 to 30th June 2020. 3.     Vivad se Vishwas scheme – no additional 10%… Read more »

SECTION 80CCD के लिए अटल पेंशन योजना CBDT द्वारा अधिसूचित

Posted by & filed under Income Tax.

MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) Notification No. 7/2016 – Income-tax New Delhi, Date: 19th February, 2016 O. 529(E).- In exercise of the powers conferred by sub-section (1) of section 80CCD of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies the ‘Atal Pension Yojana (APY)’ as published in the… Read more »

New Form 16 Circular

Posted by & filed under Income Tax.

  TDS Certificate in Form No 16 as notified vide Notification No. 11/2013 dated 19.02.2013 has two parts viz Part A and Part B (Annexure). Part A contains details of tax deduction and deposit and Part B (Annexure) contains details of income.   ISSUE OF PART A OF FORM NO. 16 FOR DEDUCTION OF TAX… Read more »