Wed, Aug 16, 2023
The Income Tax department on Wednesday prescribed a mechanism for calculating income proceeds from life insurance policies where aggregate annual premium exceeds Rs 5 lakh.
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Tue, Jul 25, 2023
Finance Minister Nirmala Sitharaman said that tax revenue has been steadily increasing in the last three to four years, even though tax rates have not been hiked. She attributed this to the efforts of the Central Board of Direct Taxation (CBDT) to control evasion and the use of technology to improve tax collection. This is good news for taxpayers, as it means that they are not being overburdened by taxes.
Mon, Jul 24, 2023
Income Tax Return Filing: More than four crore income tax returns (ITRs) have been filed so far for fiscal 2022-23 and more than half of them have been processed leading to issuance of 80 lakh refunds, CBDT chairperson Nitin Gupta said on Monday. The deadline for income tax return filing is July 31.
Mon, Jul 13, 2020
In a major development, the Central Board of Direct Taxes, Government of India has provided a utility to ascertain TDS Applicability Rates on Cash Withdrawals.
Fri, Jul 03, 2020
In an amazing feat, the Income Tax Department has cleared refund claims at a speed of 76 cases per minute, settling claims worth a whopping Rs 62,361 cr in 20.44 lakh case, a Ministry of Finance release said.
Income Tax Department has issued tax refunds at a speed of 76 cases per minute from 8th April to 30th June, 2020.
Sun, May 31, 2020
The Income Tax department has revised the I-T return forms for the financial year 2019-20 to allow assessees to avail benefits of various timeline extension granted by the government following the COVID-19 outbreak.
Fri, May 22, 2020
The Central Board of Direct Taxes (CBDT) has issued tax refunds worth Rs 26,242 cr to over 16.8 lakh (1684298) assessees between 1 April 2020 and 21 May, 2020, a Ministry of Finance release said, today
Fri, May 15, 2020
Individuals who have come to India on a visit before 22 March 2020 and have been unable to leave India on or before 31 March 2020, should know this important information. The Central Board of Direct Taxes (CBDT) has issued a clarification on the residency status of people with regards to their stay in India
Wed, Apr 22, 2020
Lockdown in India: From EPF withdrawal, EMI moratorium to delay in insurance premium payments, there are various ways Narendra Modi government has allowed through which the public can still continue sourcing money.
Income Tax Refund: Email seeking clarification from all those who are entitled to get tax refund but also have outstanding tax to payment cannot be misconstrued as harassment.
Sun, Apr 19, 2020
In a major development, CBDT is revising return forms to enable taxpayers avail benefits of timeline extension due to Covid-19.
Sat, Apr 18, 2020
Income Tax Refund: The CBDT reiterated its request that in around 1.74 lakh cases, responses are awaited from taxpayers regarding reconciliation with their outstanding tax demand.
Tue, Apr 14, 2020
In a major development, CBDT has issued a circular clarifying the process of exercising of option by a taxpayer with regard to deduction of tax at source (TDS).
Tue, Apr 07, 2020
If you think your suggestions for tax regime can help Modi government to implement 'Vivad Se Vishwas' scheme in a better manner for the development of India, then Central Board of Direct Taxes (CBDT) Chairman P C Mody chief has an important development for you.
Tue, Mar 31, 2020
In the wake of hardships caused due to COVID-19 pandemic, the Finance Ministry on Tuesday extended the validity of all lower withholding tax orders by three months till June 30.
Sat, Mar 07, 2020
Zee Business got to know from sources that the Central Board of Direct Taxes has given directions to increase recovery by focusing on central PSUs.
Thu, Feb 13, 2020
The Income Tax department through its Twitter handle @IncomeTaxIndia has posted about a clarification issued by CBDT with respect to certain misinformation which is being circulated in social media pertaining to individual tax filers.
Sat, Jan 04, 2020
Revenue Secretary Ajay Bhushan Pandey held a high-level meeting with senior officials of CBIC and CBDT on Friday to strategise and streamline the field functions in order to achieve the direct tax and the GST target of Rs 1.10 lakh crore each in the next two months and Rs 1.25 lakh crore in the f
Tue, Dec 31, 2019
RuPay and UPI are among the prescribed mode of payment for digital transactions without any Merchant Discount Rate (MDR). The MDR is the percentage of the digital transaction that a merchant pays to banks. This cost is most often passed on to the customers.
Wed, Dec 25, 2019
In a big relief to the common people in Kashmir Valley, the Central Board of Direct Taxes (CBDT) has extended the due date for filing of income-tax returns in the Union Territories of Jammu & Kashmir and Ladakh, to January 31, 2020.
Fri, Sep 27, 2019
ITR filing: Issuing a late-night statement, the CBDT has extended the new deadline by October 31.
Thu, Sep 12, 2019
Aapki Khabar Aapka Fayeda: CBDT relaxes prosecution norms for defaults in IT return filing
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