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Income Tax News & Updates

CBDT issues FAQs on Direct Tax Vivad se Vishwas Scheme, 2020. These FAQs contain clarifications on scope/eligibility, calculation of disputed tax, procedure related to payment of disputed tax and consequential benefits to the declarant. Date: 06.03.2020

​Order u/s 120(1) in respect of the officers Promoted to JCIT (OSD) modify the posting reg. Date: 02.03.2020

Instant PAN allotment in near to real time is available at free of cost. Individuals (other than minors) with a valid Aadhaar number (with updated Mobile number) can avail the PAN allotment facility. Date: 13.02.2020

​Order u/s 138(1)(a) of the Income-tax Act, 1961 ('Act') for exchange of data between CBDT and SEBI Date: 10.02.2020

​Inspector of Income Tax in CBDT through Combined Graduate Level Examination - 2017 Date: 31.01.2020

​Tax Assistant in CBDT through Combined Graduate Level Examination - 2017 Date: 31.01.2020

A functionality has been enabled in the e-filing login of the taxpayers whose business turnover exceeds Rs.50 crores to provide the prescribed mode of electronic acceptance of payment made available to the customers Date: 27.01.2020

CBDT further extends the timeline for Linking PAN with Aadhaar from 31st December, 2019 to 31st March, 2020. Date: 30.12.2019

The time limit for submitting response to Notice u/s 142(1) issued up to 24th December, 2019 by National e-Assessment Centre has been extended till 10th January, 2020 or the time limit mentioned in the Notice whichever is later. Date: 27.12.2019

Central Government notifies 31st Jan 2020 as the Last date for payment of pending amount under Income Declaration Scheme (IDS) 2016. Refer Notification Date: 19.12.2019

CBDT extends the due date for filing of Income Tax Returns/Tax Audit Reports to 30th November, 2019 in respect of Union Territory of Jammu and Kashmir and Union Territory of Ladakh Date: 1.11.2019

Honourable Supreme Court in its landmark judgement has upheld Section 139AA of the Income Tax Act as constitutionally valid which required quoting of the Aadhaar number in applying for PAN as well as for filing of income tax returns

CBDT has extended the due date of furnishing Statement of Financial Transactions for AY 2017-18 from 31st May 2017 to 30th June 2017.

CBDT has notified the procedure for acceptance of Statement of Financial Transactions from Sub-Registrar Office and Post Offices (SFT).