As per the Gazette Notification issued on 29.09.2020, the new TDS rates for the period from 14.05.2020 to 31.03.2021. Government of India Directorate General of Works Central Public Works Department No. 158/SE(TAS)/2020/427 Dated: 05/11/2020 OFFICE MEMORANDUM Sub: Reduction in rate of tax deduction at source (TDS) In order to provide more funds at the disposal … Read more
Income-tax Exemption for payment of deemed LTC fare for non-Central Government employees The Central Government has decided to extend the income tax exemption available under leave travel concession (LTC) cash voucher scheme to non-central government employees also to boost consumer spending. Non-central government employees will include employees of state governments, public sector enterprises, banks, and … Read more
Extension of the due date of furnishing of Income Tax Returns and Audit Reports In view of the challenges faced by taxpayers in meeting the statutory and regulatory compliances due to the outbreak of COVID-19, the Government brought the Taxation and Other Laws (Relaxation of Certain Provisions) Ordinance, 2020 (‘the Ordinance’) on 31st March, 2020 … Read more
Latest CBDT Circular October 2020 regarding the Income Tax Returns for the Assessment Year 2019-20 PDF Download F. No. 225/ 150/2020-ITA-II Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes North Block, ITA-II Division New Delhi, the 30 September 2020 Order under Section 119(2)(a) of the Income-tax Act, 1961 The … Read more
One-time relaxation for Verification of tax-returns for the Assessment years 2015-16, 2016-17, 2017-18, 2018-19 and 2019-20 which are pending due to non-filing of ITRV form and processing of such returns Circular No. /3/2020 F.No.225/59/2020/ITA-II Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi, dated the 13th of July, … Read more
Income Tax Deduction from Salaries F.Y. 2020-21 (A.Y. 2021-22): Format for Self Declaration for Option (Old/New Regime) and intimation of savings for Old regime Office of the Principal Controller of Defence Accounts (Central Command) 1, Cariappa Road, Lucknow Cantt. — 226002 Circular No. AN/IV/I.Tax/Circular Dated: 24.06.2020 To, The Officer In-charge 1. All Sections of Main … Read more
All ITR Forms for A.Y. 2020-21: Sahaj (ITR-1), Form ITR-2, Form ITR-3, Form Sugam (ITR-4), Form ITR-5, Form ITR-6, Form ITR-7 and Form ITR-V: Notification issued by CBDT on 29.5.2020 MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 29th May, 2020 INCOME-TAX G.S.R. 338(E).—In exercise of the powers … Read more
CBDT Circular 12/2020: Section 269su Prescribed Electronic Mode and Rule under Income Tax ACT Circular No. 12/2020 F.No.370142/35/2019-TPL Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes Dated: 20th May, 2020 Subject: Clarifications in respect of prescribed electronic modes under section 269SU of the Income-tax Act 1961 – reg. In … Read more
The due date of all Income Tax Returns for Assessment Year 2020-21 will be extended to 30 November, 2020. Similarly, tax audit due date will be extended to 31 October 2020 Finance Minister announce measures for relief and credit support related to businesses, especially MSMEs to support Indian Economy’s fight against COVID-19 Rs 3 lakh … Read more
CBDT revising return forms to enable taxpayers avail benefits of timeline extension due to COVID-19 In order to enable income taxpayers to avail full benefits of various timeline extensions granted by the Government of India due to COVID-19 pandemic situations, the CBDT is revising the return forms for FY 2019-20 (Assessment Year 2020-21) which shall … Read more