Income Tax

CBDT further extends due date for filing of IT Returns & audit reports from 15th Oct,2018 to 31st Oct, 2018 for all assessees liable to file ITRs for AY 2018-19 by 30.09.2018,after considering representations from stakeholders. Liability to pay interest u/s 234A of IT Act will remain

CBDT has issued a Circular to defer implementation of Clause 30C on GAAR and Clause 44 on GST, of the Revised Tax Audit Report Form 3CD upto 31 March 2019, earlier notified on 20 July 2018 to be applicable from 20 Aug. 2018 in view of representations from stakeholders, like …

Central Board of Direct Taxes (CBDT) extended the last date to file Income Tax Returns (ITR) from July 31 to August 31. The official twitter handle of Ministry of Finance (@FinMinIndia) tweeted: “Upon consideration of the matter, the Central Board of Direct Taxes (CBDT) extends the ‘Due Date’ for filing …

Assesses can now file their income tax returns online without the Aadhaar enrolment number as the Delhi High Court, while providing the relief to two petitioners, asked the Central Board of Direct Taxes to create a platform for people to file returns without Adhaar till the deadline of March 31, 2019 …

The Income Tax Department today launched and activated all the seven ITR forms for e-filing by taxpayers, after more than a month of them being notified. The Central Board of Direct Taxes had notified the new Income Tax Return forms for the assessment year 2018-19 on April 5. “All ITRs …

Finance Act, 2018 has inserted clause (via) to section 28 of the Income-tax Act, 1961 (‘the Act’) so as to provide that any profit and gains from conversion of inventory into capital asset or its treatment as capital asset shall be charged to tax as business income. It has also …