Category: Income Tax
CBDT further extends the timeline for e-filing of Form 15CA/ 15CB upto 15/08/2021 in view of difficulties being reported by taxpayers in electronic filing of these forms. Accordingly, CBDT …
CBDT has extended the due dates for filing of Income Tax Return (ITR)/ Tax Audit Report (TAR)/ Transfer Pricing Report (TPR), in respect of FY 2020-21/ AY 2021-22, to …
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.
CBDT has notified the new ITR Forms applicable for FY 2020-21/ AY 2021-22 (Forms ITR-1 Sahaj, ITR-2, ITR-3, ITR-4 Sugam, ITR-5, ITR-6 & ITR-7), along with revised Instructions for …
As per CBDT clarification, an individual born on 1st April would complete each year of his age on 31st March, i.e. for FY 2020-21 (AY 2021-22), the date of …
CBDT further defers the reporting requirements relating to Clauses 30C (GAAR)/ 44 (GST) of revised Tax Audit Report Form 3CD, upto 31/03/2022, in view of COVID 19 pandemic.
Reduction in Time Limit has been proposed in Budget 2021 for Re-opening of Income Tax Proceedings within 3 years, as against existing limit of 6 years, except in serious …
Enhanced Tax Audit Exemption limit of Rs. 10 crore, as against existing limit of Rs. 5 crore, has been proposed in Budget 2021, for taxpayers having 95% or more …
TDS of 0.1% on transaction of purchase of goods exceeding Rs. 50 lakh in a year has been proposed in Budget 2021 to widen the TDS base, applicable in …
ITR filing exemption has been proposed in Budget 2021 for Senior Citizens (age 75 years or more) having only pension/ interest income, to reduce their compliance burden.