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Fewer billionaires in the 100-crore club
A total of 77 individuals had disclosed a gross total income of more than Rs 100 crore (one billion rupees) in a year in the income tax return filed
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High-value transactions that may result in income tax notice
All the taxpayers must maintain all the necessary supporting documents to justify the transactions in case of any IT notice being served
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I-T department extends deadline for various tax compliances
The CBDT has also decided to extend the due dates for electronic filing of forms related to intimation by pension funds and sovereign wealth funds
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Who all are exempted from PAN-Aadhaar linking?
Aadhaar PAN Linking News: The government has extended the deadline to link PAN with the Aadhaar card till September 30, 2021
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Income tax practitioners complain of glitches on I-T portal
This year, some tax professionals apprehend, the dates have to be extended thanks to the glitches of the new revamped IT portal
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GST revenue jumps 33% to over Rs 1.16 lakh crores in July
Goods and Services Tax (GST) collection in July 2020 was Rs 87,422 crore, Sequentially, it was Rs 92,849 crore in June this year.
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CBDT to issue Rs 43,991 worth of income tax refunds
Out of the total amount refunded, personal income tax comprised of Rs 13,341 crore and corporate tax refunds amounted to Rs 30,651 crore
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Honest taxpayers deserve to be recognised: FM Sitharaman
On the 161st anniversary of Income Tax day she complimented the department for simplifying the procedures, processes and making things simpler
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Honest taxpayers deserve to be recognised: Sitharaman
On the 161st anniversary of Income Tax Day, she complimented the I-T dept for continuing to work towards simplifying its procedures and processes
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Now submit form 15CA/15CB in manual format till Aug 15
This was done in view of the difficulties faced by tax payers in filing of the forms online on the official website
