Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi, 05th July, 2021 PRESS RELEASE CBDT grants further relaxation in electronic filing of Income Tax Forms 15CA/15CB As per the Income-tax Act, 1961, there is a requirement to furnish Form 15CA/15CB electronically. Presently, taxpayers upload the Form 15CA,…...
Directorate of Income Tax (Systems)
Government of India Ministry of Finance Central Board of Direct Taxes Directorate of Income Tax (Systems) Notification No. 01 of 2021 New Delhi, 22nd June, 2021 Compliance Check Functionalitv for Section 206AB & 206CCA of Income-tax Act 1961 Section 206AB and 206CCA inserted in the Income-tax Act,1961 (effective from 1st July 2021), imposed higher TDSITCS…...
Government grants further extension in timelines of compliances
Ministry of Finance Government grants further extension in timelines of compliances Also announces tax exemption for expenditure on COVID-19 treatment and ex-gratia received on death due to COVID-19 The Government has granted further extension of timelines of compliances under Income Tax Act. It has also announced tax exemption for expenditure on COVID-19 treatment and ex-gratia…...
Income Tax Department conducts searches in Raipur
Ministry of Finance Income Tax Department conducts searches in Raipur Posted On: 24 JUN 2021 3:31PM by PIB Delhi Specific actionable intelligence was received by the Income Tax Department that a set of people were to carry out an outside-the-books cash transaction of a substantial amount at Raipur, Chhattisgarh. Upon further investigations, the input was…...
Clarification for use of functionality under section 206AB and 206CCA of the Income-tax Act, 1961
Ministry of Finance Clarification for use of functionality under section 206AB and 206CCA of the Income-tax Act, 1961 Posted On: 22 JUN 2021 7:16PM by PIB Delhi Finance Act, 2021 inserted two new sections 206AB and 206CCA in the Income-tax Act 1961 which takes effect from 1st day of July, 2021. These sections mandate tax deduction…...
Finance Ministry interaction with tax professionals, other stakeholders and Infosys on issues in new Income Tax Portal
Ministry of Finance Finance Ministry interaction with tax professionals, other stakeholders and Infosys on issues in new Income Tax Portal Posted On: 22 JUN 2021 8:05PM by PIB Delhi A meeting was held between senior officials of the Finance Ministry and Infosys on 22.06.2021 on issues in the new Income Tax Portal. The meeting was…...
Net Direct Tax collections for the Financial Year 2021-22 have grown at over 100%
Ministry of Finance The figures of Direct Tax collections for the Financial Year 2021-22, as on 15.06.2021 show that net collections are at Rs.1,85,871 crore compared to Rs. 92,762 crore over the corresponding period of the preceding year, representing an increase of 100.4% over the collections of the preceding year. The net Direct Tax collections include Corporation…...
Finance Ministry to hold meeting on 22nd June, 2021 with Infosys on issues in new Income Tax Portal
Ministry of Finance Senior officials of the Ministry of Finance, Government of India, will hold an interactive meeting on the 22nd of June, 2021, between 11:00 AM to 01:00 PM with Infosys (the vendor and its team) on issues/glitches in the recently launched e-filing portal of the Income Tax Department. Other stakeholders including members from ICAI,…...
Relaxation in electronic filing of Income Tax Forms 15CA/15CB
Ministry of Finance As per the Income-tax Act, 1961, there is a requirement to furnish Form 15CA/15CB electronically. Presently, taxpayers upload the Form 15CA, along with the Chartered Accountant Certificate in Form 15CB, wherever applicable, on the e-filing portal, before submitting the copy to the authorized dealer for any foreign remittance. In view of the…...
Relaxation in electronic filing of Income Tax Forms 15CA/15CB
Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi, 14th June, 2021 PRESS RELEASE Relaxation in electronic filing of Income Tax Forms 15CA/15CB As per the Income-tax Act, 1961, there is a requirement to furnish Form 15CA/15CB electronically. Presently, taxpayers upload the Form 15CA, along with the Chartered…...