Tag: Income Tax
TDS Form Amended Become More Comprehensive: Income Tax Dept
As per the amended form, banks will also have to report Tax Deducted at Source (TDS) for cash withdrawals above Rs 1 crore. Through a ... Read More
IT Exemption Allowed on Conveyance Allowance Under New Tax Regime: CBDT
The Central Board of Direct Taxes (CBDT) has now amended Income Tax rules to prescribe certain exemptions which can be availed by the employees. Read More
Income Tax Returns Deadline & Linking of Aadhaar With PAN Card is also Further Extended
The Central Board of Direct Taxes (CBDT) through a notification also extended the time limit by a month till July 31, 2020, for making various ... Read More
Ease of Doing Business: Reforms in TDS Provision
The Government has been successful in reducing human intervention by computerizing and automating the processing of Income-tax return. But even after doing so much, substantial ... Read More
CBDT Revising Return Forms to Ensure Taxpayers Benefits Amid Covid-19 Reaches Them
CBDT said that in order to facilitate taxpayer to avail full benefits with various timeline extension up to 30th June 2020 granted by the government, it ... Read More
CBDT Extends Validity Of Lower Withholding Tax Orders Till June 30
CBDT said that assessees holding legitimate authentications for FY20 would get the advantage of expansion, which in any case would terminate on March 31. This ... Read More
Income Tax Department Designates Income Tax Authority To File Country-By-Country Report
This CbC report is used as a corroborating material by Income tax Authorities in carrying out revenue risk assessment. Read More