Extension of due date for filing of Income tax Returns/Tax Audit Reports to 30th November, 2019 in respect of all categories of income-tax assessees in the Union Territory of Jammu and Kashmir and Union Territory of Ladakh
ITR for Capital Gains: For all those taxpayers who have to report long-term capital gains (LTCG), especially from equity shares and equity mutual funds in the financial year 2018-19, there is some piece of good news. Reporting LTCG details while filing the income tax return (ITR) for the assessment year 2019-20 has now been simplified….
Form 16 is the annual salary TDS (tax deducted at source ) certificate issued by an employer to employee. It consists of 2 parts, Part A and Part B. Part A contains the employer, employee and employment details such as PAN, address, summary of tax deducted and deposited quarterly, etc. Part B consists of the…
There a few changes regarding the Permanent Account Number (PAN) that came into effect yesterday, i.e., December 5. The changes were notified by the income tax department through a notification dated November 19, 2018. Since PAN is an important ID proof to conduct even the most basic of financial transactions, it is important that you…
NEW DELHI: Restaurants and hotels imposing service charge on customers in the name of tips but not passing them full to their employees could court trouble from taxmen. Central Board of Direct Taxes, the apex direct taxes body, has directed its field officials to examine balance sheet and expenditure statement of restaurants and hotels in…
Alarmed by the rising mountain of direct taxes stuck as arrears or in litigation, the Finance Ministry has come up with incentives/rewards for ‘performance by appellate income tax officers in order to boost government coffers through recoveries. But finance and tax experts warn that this essentially signals a return of the “tax terror regime” with…
Revision of monetary limits for filing of appeals by the Department before Income Tax Appellate Tribunal, High Courts and SLPs/ appeals before Supreme Court.
CBDT’s order regarding linking of PAN with Aadhaar while filing of ITRs – Order under Section 119 of the Income-tax Act, 1961
Long Pending issues & ongoing agitation – Income Tax Employees and Officers’ Associations
The Income Tax Department today launched and activated all the seven ITR forms for e-filing by taxpayers, after more than a month of them being notified.
An official of the Central Board of Direct Taxes (CBDT) told ANI that the Income Tax Department strives to maintain a workplace environment that functions well and possesses high standards of conduct and decorum.
Linking Aadhaar to PAN – Procedure of intimating AADHAAR number to Income Tax Department by (PAN) holder and quoting of the same in PAN applications