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Central Board of Direct Taxes News

20 Aug 2024

Income Tax Clearance Certificate Mandatory For All? CBDT Clarifies New Rules

The total number of ITRs filed for the Assessment Year (AY) 2024-25 exceeded 7.28 crore, marking a 7.5% increase compared to the 6.77 crore ITRs filed by the same date for AY 2023-24.

Income Tax department

08 Apr 2024

CBDT: No Special Initiative To Reopen HRA Mismatch Cases, Confirms

There have been reports on social media and in the news about CBDT inquiries into cases where employees have inaccurately claimed HRA and rental expenses

Central Board of Direct Taxes

01 Jul 2022

Will gift cards, reward points attract TDS on virtual digital assets?

The Central Board of Direct Taxes (CBDT) has now come up with a clarification. CDBT said that gift cards, mileage points, reward points, and loyalty cards will not come under the definition of VDAs.

PAN-Aadhaar linking

09 Apr 2022

PAN-Aadhaar linking: Here's what happens if your PAN card becomes inoperative

PAN-Aadhaar linking deadline has been extended. If a PAN Card becomes inoperative, it will have consequences. PAN Card is a crucial document.

Aadhaar-PAN linking

02 Apr 2022

PAN-Aadhaar linking can be done till 2023, but there’s a catch

Previously, the deadline for linking Aadhaar and PAN before the latter became invalid was March 31, 2022. The PAN Card of assessees who have not informed about their Aadhaar would remain functional until March 31, 2023. Over 16.65 crore PANs, out of a total of about 33 crore, had been linked to Aadhaar as of March 5, 2022.

01 Apr 2022

Big ITR Filing Update: FinMin notifies new ITR forms for FY22

ITR-1 form has been kept broadly the same as last year. The assessee will have to disclose whether the overseas retirement fund is in a notified country.

20 Mar 2022

IT dept detects Rs 224-crore undisclosed income after raids on Infra.Market

The Central Board of Direct Taxes (CBDT) is the policy-making body for the I-T department. Officials identified the searched entity as the Infra.Market group.

Income Tax department

18 Feb 2022

Taxpayers alert! IT Dept asks taxpayers to complete THIS important work

The department noted that more than 29.8 lakh major Tax Audit Reports have been filed. On the last day, over 4.14 lakh Tax Audit Reports/Statutory Forms have been filed.

09 Dec 2021

CBDT issues refunds worth over Rs 1,32,381 crore to 1.19 crore taxpayers

The refunds were issued between 1st April 2021 and 6th December 2021. Income tax refunds worth Rs 44,207 crore have been issued in 1,17,32,079 cases. Corporate tax refunds worth Rs 88,174 crore have been issued in 1,99,481 cases.

PAN -Aadhar linking

29 Jun 2021

Here’s how to see if your PAN and Aadhaar Card are linked online

Section 139AA of the Income Tax Act states that each and every person with PAN as on July 1, 2017 and is eligible to obtain Aadhaar, must link PAN with Aadhaar. If both the documents are not linked, then PAN will become inoperative.

Income tax website

05 Jun 2021

New income tax e-filing website’s features revealed: Check details

CBDT further added that every interaction, upload, and pending action will be available on a single dashboard for follow-up action by the taxpayer. Meanwhile, the tax return filing feature will be up for use only on June 18. CBDT also informed that a new mobile app would also be launched to help taxpayers understand the various features.

01 May 2021

Govt extends timelines for tax compliance. Last date for filing ITR is May 31

The Central Board of Direct Taxes (CBDT) said it had received representations from various stakeholders for relaxation on compliance requirements. Also, the due date for filing objections to Dispute Resolution Panel (DRP) and filing appeals to the commissioner has been extended till May 31.

Income tax refunds

02 Sep 2020

Income Tax refunds of Rs 98,625 cr issued to 26.2 lakh taxpayers in 5 months

The CBDT on Wednesday issued an order stating refunds of over Rs 98,625 crore to over 26.2 lakh taxpayers between 1st April to 1st September Notably, the CBDT order has been issued in exercise of powers conferred under section 138(1)(a) of the Income Tax Act, 1961

01 Sep 2020

Banks asked to refund charges collected for UPI, RuPay transaction after Jan 1

CBDT advised banks not to impose any charges on any future transactions carried out through these modes. Banks are advised to immediately refund the charges collected on or after January 1, 2020 CBDT had in December 2019 clarified that any charge shall not be applicable on or after January 1, 2020.

Central Board of Direct Taxes

18 Jul 2020

New Form 26AS is faceless hand-holding of taxpayers, says CBDT

Form 26AS for any taxpayer, from now onwards, will display in part E of the Form, different fields such as type of transaction, name of SFT filer, date of transaction. It will also display single/joint party transaction, number of parties, amount, mode of payment and remarks etc. This would help the honest taxpayers with updated financial transactions while filing their returns.

Income tax refunds

17 Jul 2020

CBDT refunds Rs 71,229 crore so far to help taxpayers during COVID-19

The CBDT has issued refunds worth Rs 71,229 crore in more than 21.24 lakh cases up to 11th July 2020, to help taxpayers with liquidity in Covid-19 pandemic days.

08 Jul 2020

CBDT, SEBI reach understanding on data exchange on automatic, regular basis

The understanding will facilitate the sharing of data and information between SEBI and CBDT on an automatic and regular basis. The MoU marks the beginning of a new era of cooperation and synergy between SEBI and CBDT.

Income tax refunds

15 Apr 2020

Income Tax refunds of Rs 4,250 cr issued in a week, says CBDT

CBDT further said that about 1.75 lakh more refunds are in the process of issuance this week, adding "These refunds will get credited directly to the taxpayer bank account in five to seven business days from issuance."

Central Board of Direct Taxes

12 Feb 2020

Vivad se Vishwas scheme: Finance ministry to hold national review meeting

The interaction via video-conferencing is expected to be chaired by Revenue Secretary A B Pandey, along with CBDT Chairman P C Mody, and they will talk to all the regional chiefs of the department in the country.

24 Dec 2019

ITR filing: CBDT extends date till January 31 in Jammu & Kashmir, Ladakh

The region, especially Kashmir, yet to witness seamless internet connectivity after the Centre`s decision to revoke the provisions of Article 370 on August, which gave a special status to the erstwhile state.

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