Category: Income Tax

Extension of due date of 31st July for filing ITR for AY 2017-18 to 5th August, 2017 CBDT Order u/s 119  The CBDT has extended the due date of 31st July, 2017 to 5th August, 2017 The extension was first declared through Income Tax Department Twitter handle and …

ITR-Tax Audit Due Date Extension for Last 20 Years from AY 2003-04 to AY 2025-26 ITR / Tax Audit Due Date Extension CBDT orders for Last 20 Years from AY 2003-04 to AY 2025-26. Due Dates of Filing Income Tax Returns and Tax Audit Report: Under section 44AB …

Revised guidelines for stay of demand at first appeal stage. Minimum deposit amount for grant of stay increased to 20% of the disputed amount from existing 15% F. No. 404/72/93-ITCC (FTS:284146) Government of India Ministry of Finance Department  of Revenue Central Board ofDirect Taxes New Delhi,  31st July, …

Filing Income tax return without linking Aadhaar to PAN allowed but linking to be done before 31st August, 2017. However, ITRs shall not be processed until linkage.  Filing Income tax return without linking Aadhaar to PAN Allowed With the extension of the due date of 31st July 2017 …

If accounts are audited AO has to explain the rejection of profit with sufficient clarity. When there are audited accounts of an entity and the calculation of the GP ratios hinges upon their analysis, the AO should not lightly undertake an exercise that would amount to negating those …

Limitation period for revision Petition 264 starts with service of intimation u/s 143(1) and not from the date when assessee comes to know about the processing of the return – High Court The expression ‘the date on which he otherwise came to know of it’ as per section …

Reopening reasons must explain what material was not disclosed which the assessee ought to have disclosed. Explanation-1 of section 147 do not relieves AO of burden of demonstrating the assessee’s failure. Delhi High Court explains the jurisdictional requirement of reopening of income tax cases u/s 14/148 post amendment …

Data of cash deposits in bank etc by Government servant to be shared with Vigilance. ITD asked to send the data to DGIT (Vigilance)  GOVERNMENT OF INDIA Ministry of Finance/Department of Revenue Central Board of Direct Taxes North Block, New Delhi-110001 Tele: 011-23093356 ,Fax :011-23092071 NISHI SINGH, IRS …

Income Tax Department to install CCTV cameras to improve the safety and security of officers/officials and office premises DIRECTORATE GENERAL OF INCOME TAX (VIGILANCE) First Floor, Dyal Singh Public Library Building , 1, Deen Dayal Upadhyay Marg, New Delhi – 110 002 F.No. DGIT (Vig)/HQ/DOR/2016-17 (pt)/2465     …

Income and deductions claimed in ITR should also match with form 16 issued by the employer or Form 16A. issued by deductor, apart from TDS amount Hitherto, normally while processing income tax return of an assessee under summary assessment u/s 143(1)(a), the focus of the Income Tax Department …