Central Board Of Direct Tax News
CBDT gives more time for various tax filings
The last date for making payments under the Vivad Se Vishwas scheme has been extended to 30 September.
2 min read30 Aug 2021Tax payers get two months extra for filing FY19 income tax returns
CBDT invoked the powers given under the Taxation and other Laws (Relaxation of Certain Provisions) Ordinance brought out in March to give extra time to tax payersThe CBDT on Wednesday notified the extension of due date for filing tax returns for FY19 from 31 July to 30 September
1 min read30 Jul 2020CBDT, CBIC sign pact to share data regularly
The MoU will facilitate the sharing of data and information between CBDT and CBIC on an automatic and regular basis, both organisations will also exchange any information available in their respective databases which may have utility for other organisations
1 min read21 Jul 2020Tax refund cases being processed on priority: CBDT
CBDT said in a statement that individuals and businesses have benefited from its refund drive with ₹24,603 crore being paid in income tax refunds and ₹46,626 in corporate tax refunds during the Covid days
1 min read17 Jul 2020Tax return forms to be revised after extension of deadlines
CBDT said that dates for making investment for claiming roll over benefit in respect of capital gains in certain cases has also been extended to 30 JuneGenerally, income-tax return forms are notified in the first week of April
1 min read19 Apr 2020Govt waives 3-year lock-in period on investments by non-residents in IDF bonds
A notification in this regard has been issued by the Central Board of Direct Taxes (CBDT)IDFs are investment vehicles to accelerate the flow of long-term debt to the sector
1 min read17 Sep 2019Govt eases procedure for startups to seek tax exemption on investments from angel funds
Various startup founders have recently claimed of receiving notices under Section 56(2) (viib) of the Income Tax Act from the I-T department to pay taxes on angel funds raised by them.
2 min read16 Jan 2019Net direct tax collection grows 15.7% to ₹4.89 trillion, says CBDT
As per the latest data, the number of taxpayers getting refunds is up by 62% from 1.22 crore refunds in the corresponding period of the last fiscal
1 min read22 Oct 2018Income tax department taking up fewer ITRs for scrutiny
Income tax department has only picked up 0.35% tax returns for scrutiny last year as against the previous instances of 0.8%-1% of cases being scrutinized
1 min read10 Aug 2018CBDT asks taxman to dispose appeals of over ₹50 crore by year-end
Faced with litigation that has assumed 'grave proportions', the Central Board of Direct Taxes (CBDT) has directed the taxman to dispose of appeals cases where the tax demand is above ₹50 crore
3 min read22 Jul 2018Popular Topics
Budget
The Union Budget contains details about the estimated receipts and the expenditure of the government for a particular fiscal year. The Budget is allotted for the upcoming fiscal year, which runs from 1st April to 31st March of the next year. Here is a quick guide on how the Union Budget is prepared
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