Page 14 - Cbdt

CBDT clamps down on coercive assessment, tax recovery measures by officers

Says recovery surveys be resorted to only if assessee is not responding to notices, can only be undertaken by those in investigation or TDS wing of tax dept

Attorney General not in favour of appealing against Voda arbitration award

The finance ministry, through the Central Board of Direct Taxes (CBDT), had sought the AG's opinion around September-end on the ruling

Refunds worth over Rs 1.23 trn issued to 3.8 mn taxpayers till Oct 13

The income tax department on Wednesday said it has issued refunds of over Rs 1.23 lakh crore to more than 38 lakh taxpayers between April 1 to October 13. This includes personal income tax (PIT) refunds amounting to Rs 33,442 crore issued to 36.21 lakh taxpayers and corporate tax refunds worth Rs 90,032 crore to over 1.89 lakh taxpayers, according to the Central Board of Direct Taxes (CBDT). "CBDT issues refunds of over Rs. 1,23,474 crore to more than 38.11 lakh taxpayers between April 1, 2020 to October 13, 2020. "Income tax refunds of Rs. 33,442 crore have been issued in 36,21,317 cases & corporate tax refunds of Rs. 90,032 crore have been issued in 1,89,916 cases," CBDT said in a tweet. The government has emphasised on providing tax-related services to taxpayers without any hassles and has been clearing up pending tax refunds.

Due date for 'filing belated, revised' ITRs for AY20 extended to Nov 30

The date is being extended for the 'genuine difficulties' taxpayers face in the Covid-19 pandemic.

IT Dept issues guidelines for applicability of TCS provision from Oct 1

The CBDT said the new introduced TCS provisions would not apply to transactions in securities and commodities which are traded through recognized stock exchanges

Scrip-wise info in ITR must only for those seeking LTCG exemption: CBDT

Direct tax body denies reports that stock or day traders are required to furnish scrip wise details in return of income for AY 2020-21

Faceless regime: Appeals will be filed in assessee's state, clarifies CBDT

Dept attempts to allay apprehensions over faceless appeals, which start tomorrow

CBDT issues over Rs 1 trn refunds to 3.2 mn taxpayers since April

The I-T refunds of Rs 31,856 crore were issued in 30,29,681 cases and corporate tax refunds of Rs 79,517 crore have been issued in 176,966, the statement said

No directive to CBDT to issue notice to Sharad Pawar: Election Commission

Several media house reported Pawar as saying that that the Income Tax Department has served him a notice in connection with the declarations made by him in poll affidavits submitted to EC

Tax refunds worth Rs 1.06 trn issued to 3.09 mn taxpayers till Sep 15: CBDT

The income tax department on Wednesday said it has issued refunds of over Rs 1.06 lakh crore to more than 30 lakh taxpayers between April 1 to September 15. This includes personal income tax (PIT) refunds amounting to Rs 31,741 crore issued to 29.17 lakh taxpayers and corporate tax refunds worth Rs 74,729 crore to over 1.74 lakh taxpayers. "CBDT issues refunds of over Rs 1,06,470 crore to more than 30.92 lakh taxpayers between 1st April, 2020 to 15th September,2020. "Income tax refunds of Rs 31,741 crore have been issued in 29,17,169 cases & corporate tax refunds of Rs 74,729 crore have been issued in 1,74,633 cases," the Central Board of Direct Taxes (CBDT) tweeted. The government has emphasised on providing tax-related services to taxpayers without any hassles and has been clearing up pending tax refunds.

CBDT deploys two-third of its workforce for faceless assessment scheme

According to officials, Regional e-Assessment Centre (ReAC) has also been increased to 34 from 8 earlier

IT refunds worth Rs 98,265 cr issued to 2.62 mn taxpayers in 5 months

This include personal income tax (PIT) refunds amounting to Rs 29,997 crore issued to 2.45 million taxpayers

I-T authorities can share info with scheduled commercial banks: CBDT

The CBDT has said IT authorities can share information with scheduled commercial banks, a move that would ease the lenders' hassle of deciding TDS deductibility on various payments to their customers.

Refund charges imposed on e-payments since Jan this year: CBDT to banks

The CBDT, through a circular, said that banks are advised to not collect any charges on transactions or payments made through electronic mode.

I-T dept to intimate taxpayers under scrutiny about faceless assessment

A Section142(1) notice is sent to an assessee to inquire about details and documents before making assessment under the Income Tax Act

Sebi-CBDT info-sharing pact facing roadblock over confidentiality clause

Confidentiality clause about foreign jurisdiction prevents tax board from sharing sensitive details with market regulator

Faceless scheme: Revenue officers seeks change in role, service conditions

IRS Association proposes to redraft transfer and deputation policy, seeks rebranding of IRS

Anonymous, at a distance: How faceless assessment will help taxpayers

Taxpayers will be selected for assessment and other procedures through a system that uses data analytics, artificial intelligence and machine learning.

Faceless assessment: CBDT chief meets I-T officers to dispel concerns

CBDT Chairman Mody explained the faceless assessment and taxpayers' charter and detailed the reallocation and reorganisation aspects of the department's manpower

Top headlines: Tata may sell JLR, UK steel biz, CBDT undergoing facelift

From Tata likely to sell JLR and UK steel operations in UK, Covid-19 drug sales performing well to private train operators allowed to choose halt stations, here are the top news of the day