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  CBDT meets officials to dispel doubts on faceless tax collection

  Business | August 19, 2020 14:17 IST

  The government has assured income tax officials that implementation of the new faceless and contactless tax administration would not cause any large-scale movement of officers or officials and all the changes would be done within the existing manpower preferably at the existing locations.

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  CBDT unearths Rs 1,000 crore hawala network of Chinese companies in Delhi, Ghaziabad and Gurugram

  Business | August 12, 2020 21:37 IST

  Income-Tax department conducted raids on premises of few Chinese individuals and their India associates for running a money laundering racket worth Rs1,000 crore, the Central Board of Direct Taxes said on Tuesday.

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  Income Tax Return: New and improved Form 26AS from this year. Check details

  July 19, 2020 11:57 IST

  CBDT on Saturday informed that from this Assessment Year (2020-20201), taxpayers will see an improved Form 26AS which would carry some additional details on taxpayers' financial transactions as specified Statement of Financial Transactions (SFTs) in various categories.

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  CBDT asks taxmen to process returns filed up to AY 2017-18 with refund claims by Oct 31

  Business | July 10, 2020 21:57 IST

  The income tax department on Friday asked officers to process returns filed up to the assessment year (AY) 2017-18 with refund claims by October 31, 2020.  

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  Govt not considering merger of CBDT and CBIC, Finance Ministry clarifies

  Business | July 06, 2020 18:47 IST

  ​The government is not considering any proposal to merge the Central Board of Direct Taxes (CBDT) and Central Board of Indirect Taxes and Customs (CBIC), the Union Ministry of Finance clarified today. 

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  Income Tax Department amends TDS form, makes it more comprehensive

  July 05, 2020 17:17 IST

  The income tax department has amended the TDS form, making it more comprehensive and mandating deductors to state reasons for non-deduction of tax.

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  Employees allowed to claim I-T exemption on conveyance allowance under new tax regime: CBDT

  Business | June 28, 2020 14:54 IST

  The Central Board of Direct Taxes (CBDT) has now amended Income Tax rules to prescribe certain exemptions which can be availed by the employees.

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  Employees allowed to claim I-T exemption on conveyance allowance under new tax regime: CBDT

  Business | June 27, 2020 23:02 IST

  ​The government has allowed individuals under new lower tax regime to claim I-T exemption on conveyance allowance received from employers. The Central Board of Direct Taxes (CBDT) has now amended Income Tax rules to prescribe certain exemptions which can be availed by the employees. 

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  CBDT notifies revised Form 26AS, to now include real estate, share transaction details

  Business | May 28, 2020 22:51 IST

  ​The income tax department on Thursday notified the revised Form 26AS, containing details of tax collected or deducted at source which will now include information pertaining to property and share transactions.

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  CBDT issues tax refunds worth Rs 26,242 crore since 1st April

  Business | May 22, 2020 14:28 IST

  Central Board of Direct Taxes on Friday has issued tax refunds worth Rs. 26,242 crore to 16,84,298 tax assesses since April 1 to May 21, 2020 and corporate tax refund to 1.02 lakh assesses amounting to Rs 11,610 cr given during this period.

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  CBDT again defers GST, GAAR reporting in I-T audit report till March 2021

  Business | April 27, 2020 21:21 IST

  The Income Tax Department on Monday deferred for the third time the requirement for companies to include in their I-T audit report the details of the Goods and Services Tax (GST) and GAAR.

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  47 IRS officers feature in credits of controversial tax booklet

  Business | April 27, 2020 8:58 IST

  The controversial FORCE document of Income Tax officers which triggered a controversy with the Central Board of Direct Taxes (CBDT) promising action has given credits to 47 officers.

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  CBDT revises ITR forms to help taxpayers avail benefits of timeline extension. Details here

  Business | April 19, 2020 16:17 IST

  The government has decided to revise the income tax return forms for assessment year 2020-21 due to the coronavirus pandemic.  

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  10.2 lakh I-T refunds worth Rs 4,250 cr issued in a week: CBDT

  Business | April 15, 2020 17:32 IST

  The Income Tax department has issued over 10.2 lakh refunds worth Rs 4,250 crore within a week, the Central Board of Direct Taxes (CBDT) said on Wednesday.

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  Employees have to inform employers about intention to opt for new tax system: CBDT

  Business | April 13, 2020 20:29 IST

  The income tax department on Monday said employees will have to inform their employers about their intention to opt for the new optional tax regime to enable the latter to deduct TDS while paying salaries.

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  PAN-Aadhaar Linking: Don't miss March 31 deadline for linking PAN-Aadhaar, says IT Dept

  Business | March 17, 2020 11:49 IST

  The Income Tax Department on Monday has issued a public message stating that it was 'mandatory' to link PAN card with Aadhaar. The IT Department also advised people not to 'miss' the deadline of March 31 for the same.

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  Illegal cash from liquor and mining business paid to Chhattisgarh public servants: CBDT

  India | March 02, 2020 21:34 IST

  Income Tax raids conducted in Chhattisgarh have revealed that "unaccounted cash" sourced from liquor and mining businesses was being paid to public servants every month, the CBDT said on Monday.

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  10% TDS only on dividend paid by Mutual Funds, not on redemption on units, CBDT clarifies

  Business | February 04, 2020 21:03 IST

  The Central Board of Direct Taxes (CBDT) on Tuesday clarified that the budget proposal of 10 percent TDS will be applicable only on dividend payment by mutual funds and not on the gain arising out of redemption of units.

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  Attention employees! CBDT says 20% of your salary will be deducted if you don't do THIS

  Business | January 29, 2020 11:22 IST

  Are you a salaried person and earning over ₹ 2.5 lakh per annum? Then this news is important for you. The Income Tax Department has reiterated that employers must cut tax at source at 20 per cent or a higher rate if the employees do not provide PAN and Aadhaar details to the employer.

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  Hefty fine for not using digital payments by January 31, 2020

  Business | December 31, 2019 14:49 IST

  Shops, business firms or companies with an annual turnover of Rs 50 crore or more and required to provide digital payment facilities to customers as part of government's stride towards a less-cash economy, will not have to pay any penalty till January 31 for not installing the system.