Income Tax

In this section you will get income tax updates, such as press release, notification circular, orders and many more updates,


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Income Tax Department Refunded Rs. 62,361 crore to more than 20 lakh taxpayers amid COVID-19 pandemic

95 ViewsIncome Tax Department Refunded Rs. 62,361 crore to more than 20 lakh taxpayers amid COVID-19 pandemic Ministry of Finance In pursuance to the Government’s decision vide Press Note dated April 8th, 2020 to issue pending income tax refunds in order to help taxpayers in a COVID-19 pandemic situation, the Income Tax Department has issued …

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INCOME TAX NOTIFICATION NO-42

115 ViewsINCOME TAX NOTIFICATION NO-42 MINISTRY OF FINANCE(Department of Revenue)(CENTRAL BOARD OF DIRECT TAXES)NOTIFICATIONNew Delhi, the 30th June, 2020 G.S.R. 423(E).—In exercise of the powers conferred by section 50CA read with section 295 of theIncome-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rulesfurther to amend the Income-tax …

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INCOME TAX NOTIFICATION NO-41

120 ViewsINCOME TAX NOTIFICATION NO-41 MINISTRY OF FINANCE(Department of Revenue)(CENTRAL BOARD OF DIRECT TAXES)NOTIFICATIONNew Delhi, the 30th June, 2020(INCOME–TAX) S.O. 2148(E).—In exercise of the powers conferred by the proviso to sub-section (3) of section 9Aof the Income-tax Act, 1961(43 of 1961), the Central Government hereby notifies that the conditionsspecified in clauses (e), (f) and (g) …

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INCOME TAX NOTIFICATION NO-40

109 ViewsINCOME TAX NOTIFICATION NO-40 MINISTRY OF FINANCE(Department of Revenue)(CENTRAL BOARD OF DIRECT TAXES)NOTIFICATIONNew Delhi, the 29th June, 2020 G.S.R. 421(E).— In exercise of the powers conferred by clause (XI) of the proviso to clause (x) of subsection(2) of section 56 read with section 295 of the Income-tax Act, 1961 (43 of 1961), the Central …

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CBDT issues Notification on Extension of time limits under the Income Tax Act, 1961 and related Acts,

179 ViewsCBDT issues Notification on Extension of time limits under the Income Tax Act, 1961 and related Acts, MINISTRY OF FINANCE(Department of Revenue)(CENTRAL BOARD OF DIRECT TAXES)NOTIFICATIONNew Delhi, the 24th June, 2020TAXATION AND OTHER LAWS (Relaxation of Certain Provisions) Ordinance, 2020 (2 of 2020) (hereinafter referred to as the Ordinance), theCentral Government hereby specifies , …

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INCOME TAX NOTIFICATION NO. 39

115 ViewsINCOME TAX NOTIFICATION NO. 39 MINISTRY OF FINANCE(Department of Revenue)(CENTRAL BOARD OF DIRECT TAXES)CORRIGENDUMNew Delhi, the 29th June, 2020TAXATION AND OTHER LAWS S.O. 2126(E).—In the notification of the Government of India, Ministry of Finance, (Department of Revenue) (CentralBoard of Direct Taxes), number 35/2020, dated the 24th June, 2020, published, vide, number S.O. 2033(E), dated …

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INCOME TAX NOTIFICATION NO.38

148 ViewsINCOME TAX NOTIFICATION NO.38 MINISTRY OF FINANCE(Department of Revenue)(CENTRAL BOARD OF DIRECT TAXES)NOTIFICATIONNew Delhi, the 26th June, 2020INCOME-TAX G.S.R. 415(E).—In exercise of the powers conferred by sub-section (2) of section 115BAC read withsection 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the followingrules further to …

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CIRCULAR NO.12

218 ViewsCIRCULAR NO.12 CircularNo.12- /2020 F.No.370 142135/20 19-TPLGovernment of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Direct Taxes Dated: 20~May, 2020 Subject: Clarifications in respect of prescribed electronic modes under section 269SU ofthcIncome-tax Act, 1961 – reg.In furtherance to the declared policy objective of the Government to encourage digitaltransactionsand move towards a less-cash economy, a …

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CIRCULAR NO.11

202 ViewsCIRCULAR NO.11 Circular .11 of 2020 F. No. 370142/18/2020-TPLGovernment of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Direct Taxes New Delhi, May 8, 2020 Clarification in respect of residency under section 6 of the Income-tax Act, 1961Section 6 of the Income-tax Act, 1961 (the Act) contains provisions relating todetermination of residency of a person. …

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CIRCULAR NO.10

162 ViewsCIRCULAR NO.10 Circular No.10/2020 F. No. 37014219/20 18-TPLGovernment of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Direct TaxesTPL Division New Delhi, dated 24th April, 2020 Order under section 119 of the Income-tax Act, 1961 Section 44AB of the Income-tax Act, 1961 (‘the Act’) read with rule 6G of theIncome-tax Rules, 1962 (‘the Rules’) requires …

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NOTIFICATION NO.37

127 ViewsNOTIFICATION NO.37 MINISTRY OF FINANCE(Department of Revenue)(CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS)NOTIFICATIONNew Delhi, the 25th June, 2020 S.O. 2041 (E).—In exercise of the powers conferred by clause (46) of section 10 of the Income-tax Act,1961 (43 of 1961), the Central Government hereby notifies for the purposes of the said clause, ‘Real EstateRegulatory Authority’ …

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NOTIFICATION NO.36

111 ViewsNOTIFICATION NO.36 MINISTRY OF FINANCE(Department of Revenue)(CENTRAL BOARD OF DIRECT TAXES)NOTIFICATIONNew Delhi, the 25th June, 2020 S.O. 2042(E).—In exercise of the powers conferred by clause (46) of section 10 of the Income-tax Act, 1961 (43of 1961), the Central Government hereby notifies for the purposes of the said clause, ‘Real Estate Regulatory Authority’as specified in …

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NOTIFICATION NO.35

242 ViewsNOTIFICATION NO.35 MINISTRY OF FINANCE(Department of Revenue)(CENTRAL BOARD OF DIRECT TAXES)NOTIFICATIONNew Delhi, the 24th June, 2020TAXATION AND OTHER LAWS S.O. 2033(E).– In exercise of the powers conferred by sub-section (1) of section 3 of the Taxation and OtherLaws (Relaxation of Certain Provisions) Ordinance, 2020 (2 of 2020) (hereinafter referred to as the Ordinance), theCentral …

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NOTIFICATION NO.34

97 ViewsNOTIFICATION NO.34 MINISTRY OF FINANCE(Department of Revenue)(CENTRAL BOARD OF DIRECT TAXES)NOTIFICATIONNew Delhi, the 23rd June, 2020 (43 of 1961), the Central Government hereby notifies for the purposes of the said clause, ‘MaharashtraElectricity Regulatory Commission’, Mumbai (PAN AAAGM0004R), a commission established by the StateGovernment of Maharashtra, in respect of the following specified income arising to …

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NOTIFICATION NO.33

104 ViewsNOTIFICATION NO.33 MINISTRY OF FINANCE(Department of Revenue)(Central Board of Direct Taxes)NOTIFICATIONNew Delhi, the 23rd June, 2020 S.O. 2014(E).—In exercise of the powers conferred by clause (46) of section 10 of the Income-tax Act,1961 (43 of 1961), the Central Government hereby notifies for the purposes of the said clause, ‘Greater NoidaIndustrial Development Authority’, (PAN AAALG0129L …

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NOTIFICATION NO.32

170 ViewsNOTIFICATION NO.32 MINISTRY OF FINANCE(Department of Revenue)(CENTRAL BOARD OF DIRECT TAXES)NOTIFICATIONNew Delhi, the 12th June, 2020Income-Tax S.O. 1879(E).—In exercise of the powers conferred by clause (v) of the Explanation to section 48 ofthe Income-tax Act, 1961 (43 of 1961), the Central Government hereby makes the following furtheramendments in the notification of the Government of …

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Extension of various time limits under Direct Tax &Benami laws

333 ViewsExtension of various time limits under Direct Tax &Benami laws Ministry of Finance In view of the challenges faced by taxpayers in meeting the statutory and regulatory compliance requirements across sectors due to the outbreak of Novel Corona Virus (COVID-19), the Government brought the Taxation and Other Laws (Relaxation of Certain Provisions) Ordinance, 2020 …

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ITR Forms ITR-1 To ITR-7 FOR FY 2019-20( AY 2020-21) | Income tax Notification no-31/2020

262 ViewsITR Forms ITR-1 To ITR-7 FOR FY 2019-20( AY 2020-21) | Income tax Notification no-31/2020 MINISTRY OF FINANCE(Department of Revenue)(CENTRAL BOARD OF DIRECT TAXES)NOTIFICATION NO-31/2020New Delhi, the 29th May, 2020INCOME-TAX G.S.R. 338(E).—In exercise of the powers conferred by section 139 read with section 295 of the Income-tax Act, 1961 (43 of 1961), the Central …

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Remuneration to be paid to an eligible Fund Manager under section 9A of the Income-tax Act, 1961

187 ViewsRemuneration to be paid to an eligible Fund Manager under section 9A of the Income-tax Act, 1961 MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 27th May, 2020 INCOME-TAX G.S.R.315(E).—In exercise of the powers conferred by section 295 read with clause (m) of sub-section (3) of section …

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Uttarakhand Environment Protection & Pollution Control Board| Income Tax Notification no-28/2020

199 ViewsUttarakhand Environment Protection & Pollution Control Board| Income Tax Notification no-28/2020 MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION No-28/2020 New Delhi, the 27th May, 2020 S.O. 1658(E).—In exercise of the powers conferred by clause (46) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government …

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