| List of CBDT Press Releases 2020 (Date/ Description) |
CBDT Press Release dt. 31/12/2020 ; IT search on two Kolkata based groups unearths concealment of income (Rs. 178 crore), excess stock (Rs. 38 crore), seizure of unaccounted cash (Rs. 1 crore)/ jewellery (Rs. 1.42 crore).
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| CBDT Press Release dt. 15/12/2020 : IT Deptt conducts search and seizure operations at 60 locations/ premises of a leading business group operating from Chennai (Tamilnadu); discovers unaccounted cash of Rs. 23 crore, undisclosed foreign assets of Rs. 110 crore, etc. |
CBDT Press Release dt. 15/12/2020 : IT Deptt conducts search and seizure operations at 29 locations/ premises of a leading Builder and Entry Operator at Panvel/ Vashi (Pune, Maharashtra); discovers unaccounted income of Rs. 163 crore including unexplained/ unaccounted cash of Rs. 13.93 crore, etc.
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| CBDT Press Release dt. 29/11/2020 : IT Deptt conducts search at Premises of an IT SEZ Developer in Chennai, Mumbai, Hyderabad and Cuddalore; undisclosed income of more than Rs. 450 crores detected. |
CBDT Press Release dt. 26/11/2020: UDIN to be validated during uploading of Tax Audit Reports (TAR).
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| CBDT Press Release dt. 20/11/2020 : Income Tax Department conducts searches at 16 locations in Kanpur, Gorakhpur, Noida (Uttar Pradesh), Delhi and Ludhiana (Punjab), to unearth accommodation entries of more than Rs. 100 crores, in the case of a leading cattle feed producer of North India. |
| CBDT Press Release dt. 07/11/2020 : Income Tax Department conducts Search at 5 locations in Chennai, Madurai (Tamilnadu) on 4th Nov. 2020 and detects Unaccounted income to the tune of approx. Rs. 1000 crores, in the case of a Chennai based group operating in the IT Infra sector. |
| CBDT Press Release dt. 24/10/2020 : Further extension of due dates for filing of ITR/ TAR/ TPR for AY 2020-21, followed with subsequent Notification 88/2020. |
CBDT Press Release dt. 28/05/2020 : FM Smt. Nirmala Sitharaman has formally launched the facility for allotment of Instant PAN free of cost (e-PAN) through a simplified paperless process based on use of Aadhaar based e-KYC.
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| CBDT Press Release dt. 13/05/2020 : 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 14/05/2020 to 31/03/2021), as a measure to inject liquidity of Rs. 50,000 crore in the System, as per Special Package of Rs 20 lakh crores (COVID-19) announced by Govt. of India on 13/05/2020 . |
| CBDT Press Release dt. 04/02/2020 : 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. However, any capital gains arising out of appreciation in the value of units/ shares of Mutual Funds/ Companies shall not be subjected to such TDS. |
| CBDT Press Release dt. 02/02/2020 : CBDT clarifies new deeming provision pertaining to residence/ tax liability in India, as proposed in Finance Bill/ Budget 2020 (i.e. an Indian citizen shall be deemed to be resident in India, if he is not liable to be taxed in any other country/ jurisdiction). The same shall not apply to any income earned by a person outside India unless it is derived from an Indian business or profession. |
| CBDT Press Release dt. 09/01/2020 : CBDT has relaxed recently notified eligibility conditions for filing of Income-tax Returns in Form ITR 1 (Sahaj) and ITR 4 (Sugam) for Assessment Year 2020-21, in respect taxpayers having jointly owned single property or who have to file ITR as per seventh proviso to section 139(1), i.e. no change in applicable ITR Form in such cases for AY 2020-21. |