RAP & CO - RECENT UPDATES , Direct Taxation

RAP & CO - RECENT UPDATES , Direct TaxationRAP & CO - RECENT UPDATES , Direct Taxationhttps://www.abpo.in/blogs/direct-taxationTue, 04 Mar 2025 00:57:19 -0800http://zoho.com/sites/<![CDATA[Income Tax : List of Banks for tax payments as on 30.01.2023]]>https://www.abpo.in/blogs/post/income-tax-list-of-banks-for-tax-payments-as-on-30.01.2023

W.e.f. 7th Jan 2023, e-Pay Tax service is now enabled for IndusInd Bank with Over the Counter and Net Banking option.

]]>Mon, 30 Jan 2023 19:21:38 +0530<![CDATA[Facility to link Aadhar with PAN has been enabled on Income Tax Portal with applicable late fees as prescribed.......]]>https://www.abpo.in/blogs/post/facility-to-link-aadhar-with-pan-has-been-enabled-on-income-tax-portal-with-applicable-late-fees-as

]]>Wed, 01 Jun 2022 15:27:46 +0530<![CDATA[Finance Ministry is expecting that tech issues of the new Income Tax (I-T) portal will be resolved soon and the website will function normally by the first week of August, sources informed CNBC-TV18]]>https://www.abpo.in/blogs/post/finance-ministry-is-expecting-that-tech-issues-of-the-new-income-tax-i-t-portal-will-be-resolved-soo]]>

https://www.cnbctv18.com/finance/finance-ministry-expects-new-income-tax-portal-to-function-normally-from-first-week-of-august-10069001.htm/amp?__twitter_impression=true

]]>Thu, 22 Jul 2021 14:13:01 +0530<![CDATA[Further relaxation in electronic filing of Income Tax Forms 15CA/15CB]]>https://www.abpo.in/blogs/post/further-relaxation-in-electronic-filing-of-income-tax-forms-15ca-15cb]]>

In view of the difficulties reported by taxpayers in electronic filing of Income Tax Forms 15CA/15CB, it has been further decided that taxpayers can submit aforesaid Forms in manual format to the authorized dealers till Aug 15th, 2021

]]>Tue, 20 Jul 2021 19:43:11 +0530<![CDATA[CBDT issued Press Release dated 25-06-2021 for some further extension ]]>https://www.abpo.in/blogs/post/cbdt-issued-press-release-dated-25-06-2021-for-some-further-extension]]>

Government grants further extension in timelines of compliances and also tax exemption for expenditure on Covid treatment and ex-gratia received on death due to Covid.

For details, please see the attached Press Release.

]]>Sat, 26 Jun 2021 13:18:09 +0530<![CDATA[CBDT issues Circular No. 11 of 2021 dt 21.06.2021 on implementation of section 206AB & 206CCA wrt higher tax deduction/collection for certain non-filers. New functionality issued for compliance checks for sec 206AB & 206CCA to ease compliance burden of tax deductors/collectors. No need now to obtain any declaration from the Vendors.]]>https://www.abpo.in/blogs/post/cbdt-issues-circular-no.-11-of-2021-dt-21.06.2021-on-implementation-of-section-206ab-206cca-wrt-high]]>

CBDT issues functionality to verify whether the Vendors have filed tax return for compliance of Section 206AB and Section 206CCA. As per circular no 11 issued today i.e. 21-06-2021, the deductor can verify from income tax portal about its vendor’s status of filing tax return in preceding 2 years.

Further it has been clarified that preceding 2 previous years for FY 2021-22 shall mean FY 2018-19 and FY 2019-20. The name of specified persons who have not filed tax returns uploaded at the beginning of the year by CBDT will be valid for the entire FY as no further addition will be made to this list . However deletion will be done by CBDT in case any specified person in the list files its tax return . This will now make compliance of Section 206AB and 206CCA much easier as it will be one time exercise of verification in the beginning of the year of all vendors.

No need now to obtain any declaration from the Vendors.

]]>Mon, 21 Jun 2021 23:00:11 +0530<![CDATA[New IT e-Filing Portal Issues : Senior Finance Ministry officials to hold interactive meeting with Infosys on 22nd June, 2021. Stakeholders including ICAI members, auditors, consultants & taxpayers to be part of the interaction]]>https://www.abpo.in/blogs/post/new-it-e-filing-portal-issues-senior-finance-ministry-officials-to-hold-interactive-meeting-with-inf]]>

Hope for some positive results from the meeting and New IT Portal started working soon with new features as already stated by Ministry of Finance. Meanwhile CBDT should take proactive step and give general extension to those who have due dates / hearing for e-assessment and penalty proceedings.

]]>Tue, 15 Jun 2021 22:03:37 +0530<![CDATA[Cash Transaction Limit under Income Tax Act'1961]]>https://www.abpo.in/blogs/post/cash-transaction-limit-under-income-tax-act-1961]]>

]]>Mon, 24 May 2021 20:10:37 +0530<![CDATA[CBDT EXTENDS CERTAIN TIMELINES AMID COVID 2.0 INCLUDING ITR FOR AY 2020-21, ITR IN RESPONSE TO NOTICE U/S 148, TDS U/S 194IA, 194IB AND 194M, FORM 61 AND CIT(A) APPEALS FROM 30.04.2021 TO 31.05.2021 ]]>https://www.abpo.in/blogs/post/cbdt-extends-certain-timelines-amid-covid-2.0-including-itr-for-ay-2020-21-itr-in-response-to-notice

]]>Sat, 01 May 2021 14:07:19 +0530<![CDATA[CBDT EXTENDEDS CERTAIN TIMELINES TILL JUNE 30' 2021 BY ISSUING PRESS RELEASE]]>https://www.abpo.in/blogs/post/cbdt-extendeds-certain-timelines-till-june-30-2021

Govt extends certain deadlines amid Covid including for making payment under tax dispute resolution scheme Vivad Se Vishwas by two months till June 30.

Notification in this respect will follow soon.

Get Started Now

]]>Sat, 24 Apr 2021 13:09:00 +0530