CBDT further extends various Income Tax compliance Deadlines
CBDT further extends various Income Tax compliance deadlines prescribed under for Taxation & Other Laws (Relaxation of Certain Provisions) Ordinance, 2020.
Category: Income Tax
Cost Inflation Index (FY 2020-21) notified by CBDT
CBDT has notified the 'Cost Inflation Index (CII)' for FY 2020-21/ AY 2021-22 at 301 for determining 'long term capital gains (LTCG)' under Income Tax.
ICAI’s Draft Guidance Note on Transfer Pricing Report u/s 92E of Income Tax
ICAI has released Exposure Draft of Guidance Note on Transfer Pricing Report u/s 92E of the Income-Tax Act, 1961, incorporating amendments made by the Finance Act, 2020.
25% Reduction in TDS/ TCS Rates from 14th May 2020 (FY 2020-21)
TDS Rates for non-salary payments and TCS Rates for specified receipts have been reduced by 25% in respect of the remaining period of Financial Year 2020-21 (i.e. during 14th …
ITR/ TAR Due Date Extended (FY 2019-20/ AY 2019-20)
Due dates for filing of all Income Tax Return (ITR) in respect of FY 2019-20/ AY 2020-21 have been extended from 31st July/ 31st October 2020 to 30th November …
Vivad se Vishwas Scheme extended upto 31 Dec. 2020
The period of Vivad se Vishwas Scheme for making payment without additional amount will be extended to 31st December,2020, as per Special Package of Rs 20 lakh crores (COVID-19) …
Clauses 30C (GAAR)/ 44 (GST) of Revised 3CD further extended upto 31 March 2021: CBDT Order 10/2020
CBDT further defers the reporting requirements of revised Tax Audit Report Form 3CD, relating to Clauses 30C (GAAR)/ 44 (GST), upto 31 March 2021, in view of outbreak of …
Completion of Age of 60/ 80 for Senior/ Very Senior Citizen Status Benefit under Income Tax
As per CBDT clarification, an individual born on 1st April would complete each year of his age on 31st March, i.e. for FY 2019-20 (AY 2020-21), the date of …
Revised Interest Rates for Small Saving Schemes FY 2019-20/ 2020-21 (NSC, PPF, KVP, SSAS, SCSS)
Govt. has notified the revised/ reduced interest rates for Small Saving Schemes (NSC, PPF, KVP, SSAS, SCSS, etc.) in respect of Q1 of FY 2020-21 (1 April to 30 …
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 …