Income Tax

Existing certificates for lower deduction of TDS/TCS are valid till 30.06.2020

Central Board of Direct Taxes (CBDT) by issuing an order on dated 31.03.2020 under section 119 of the Income Tax Act, 1961, has clarified that, due to outbreak of COVID-19 pandemic, existing certificate issued for FY 2019-20 for lower or nil rate of deduction of TDS and lower or nil rate of collection of TCS, shall be valid till 30.06.2020.

Vivad Se Vishwas Scheme 2020 – Rules

The Direct Tax Vivad se Vishwas Scheme, 2020 provides an option to taxpayers to settle their disputed tax and provide a resolution for matters connected therewith or incidental thereto.

Vivad Se Vishwas Scheme 2020 – Act

The Direct Tax Vivad se Vishwas Act, 2020 provides an option to taxpayers to settle their disputed tax and provide a resolution for matters connected therewith or incidental thereto.

Instant PAN or e-PAN

Income tax department has started free of cost e-pan generation facility using aadhaar card. In this facility applicant will not required to submit any physical documents.

Income tax – old slab vs new slab

A quick comparison of tax payable under the old tax slab and new tax slab to help taxpayers to choose efficiently for opting beneficial scheme at the time of filing income tax return.

PAN and Aadhaar linking date extended

CBDT has further extend last date for linking of PAN card with Aadhaar card. Now PAN card and Aadhaar card can be linked till 31.03.2020.

Prohibition of Benami Property Transactions Rules, 2016

Prohibition of Benami Property Transactions Rules, 2016 as notified under Prohibition of Benami Property Transaction Act 1988.

Prohibition of Benami Property Transactions Act, 1988

Prohibition of benami property transactions act is an act to curb black money and prohibit benami transactions. This act empower goverment to recover property held as benami property.

Extension of due date for filing income tax return for Jammu & Kashmir & Ladakh

F. No. 225/306/2019-ITA-11 Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes North Block, ITA-II Division New Delhi, the 31 October, 2019 Order under Section 119 of the Income-tax Act, 1961 On consideration of reports…