CBDT Clarifications on Lower/ Nil Rate TDS/ TCS Certificates (COVID-19)
CBDT has clarified certain issues arising out of its Orders issued under Section 119 (dt. 31st March 2020 & 3rd April 2020) regarding issuance of certificate for lower rate/ …
Category: Income Tax
Govt. to release Income Tax/ GST/ Customs Refunds of Rs. 14,000 cr (COVID-19)
Govt. has decided to provide immediate relief to taxpayers by releasing pending refunds of Income Tax (upto Rs 5 lac/ 14 lac cases), GST and Customs (1 lac cases), …
Form 15G/ 15H submitted for FY 2019-20 valid upto 30 June 2020, clarifies CBDT
CBDT clarifies that Form 15G/ Form 15H submitted for Financial Year (FY) 2019-20 shall remain valid upto 30 June 2020, i.e. for first quarter of FY 2020-21, in case …
Issuance of Lower/ Nil Rate TDS/ TCS Certificate (FY 2019-20), clarification by CBDT
CBDT has issued an Order for directions/ clarifications relating to cases where issuance of Lower/ Nil Rate TDS/ TCS Certificate in respect of Financial Year (FY) 2019-20 is pending, …
Finance Act, 2020 notified by Govt. post President’s Ascent (Download pdf)
Ministry of Law & Justice, Govt. of India has notified the Finance Act 2020, which has received assent of the Hon'ble President of India, i.e. final approval for the …
Comprehensive Relief Package for Compliance Deadlines announce by Govt. (COVID-19)
Govt. announces comprehensive relief package for routine/ year end closing compliance and filing deadlines, to avoid penal consequences for taxpayers/ businessman who are already facing stress of COVID-19.
ITR/ Tax Audit Report filing Due Date extended for J&K/ Ladakh Assessees: CBDT
CBDT notifies further extension of due date for filing of Income Tax Return (ITR) and Tax Audit Report (TAR) in the case of assessees of Jammu & Kashmir (J&K) …
Provisions of Direct Tax Vivad se Vishwas Scheme 2020 clarified by CBDT
CBDT clarifies provisions of Direct Tax Vivad se Vishwas Scheme 2020 introduced in Budget 2020 for resolution of pending income tax disputes.
Guidelines for condonation of delay in filing of ITR, Form 9A/10 by Charitable Institutions revised
CBDT prescribes revised guidelines for condonation of delay in filing of Income Tax Return for Assessment Year(s) 2016-17/ 2017-18/ 2018-19 and Form No. 9A/10 by charitable institutions u/s 119(2)(b).
CBDT clarifies TDS on Mutual Fund dividend (not gains): Budget 2020 proposals
CBDT has clarified that Budget 2020 has proposed 10% TDS on Mutual Fund dividends, above Rs. 5000/ year, in lieu of removal of DDT, under new IT Section 194K. …