Tag: Income Tax

TDS Form Amended Become More Comprehensive: Income Tax Dept
Finance, InFocus

TDS Form Amended Become More Comprehensive: Income Tax Dept

SMEStreet Desk- July 6, 2020

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
Taxation, Finance

IT Exemption Allowed on Conveyance Allowance Under New Tax Regime: CBDT

SMEStreet Desk- June 29, 2020

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
Taxation, Banking & Finance

Income Tax Returns Deadline & Linking of Aadhaar With PAN Card is also Further Extended

SMEStreet Desk- June 25, 2020

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
Finance, Finance

Ease of Doing Business: Reforms in TDS Provision

SMEStreet Desk- May 13, 2020

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
LimeLight

CBDT Revising Return Forms to Ensure Taxpayers Benefits Amid Covid-19 Reaches Them

SMEStreet Desk- April 19, 2020

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
Taxation, InFocus

CBDT Extends Validity Of Lower Withholding Tax Orders Till June 30

SMEStreet Desk- April 2, 2020

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
Finance, InFocus

Income Tax Department Designates Income Tax Authority To File Country-By-Country Report

SMEStreet Desk- March 20, 2020

This CbC report is used as a corroborating material by Income tax Authorities in carrying out revenue risk assessment. Read More