Income Tax

Exposure Draft of Revised ‘Guidance Note on Tax Audit under section 44AB of the Income-tax Act, 1961’ for Public Comments – 05.07.2022

ICAI has published Exposure Draft of Revised ‘Guidance Note on Tax Audit under section 44AB of the Income-tax Act, 1961’ ...
Read More

CBDT extends the timeline to update UDINs till September 30, 2022

The timeline to update the Unique Document Identification Numbers - UDINs is extended till September 30, 2022 in order to ...
Read More

Clause 44 reporting of FY2022-23 in Tax Audit Report.

CA Nitin Bhuta, Mumbai has compiled and presented Clause 44 applicability in Tax audit report for A.Y. 2022-23 in the ...
Read More

CBDT enabled filing of ITR-U on Income Tax e-filing portal for AY 2020-21 and AY 2021-22

CBDT has enabled the filing of ITR-U on the Income Tax e-filing portal for the Assessment Year 2020-21 and AY ...
Read More

Govt appoints Indian Revenue Services officer Nitin Gupta new CBDT chairman

IRS officer Nitin Gupta has been appointed as the new CBDT chairman, a recent government order said. Gupta, an Indian ...
Read More

Order u/s 119 of the Income-tax Act, 1961 in relation to TDS u/s 194S of the Act for transactions other than those taking place on or through an Exchange

Finance Act, 2022 inserted a new section 194S in the Act with effect from July 01, 2022. The new section ...
Read More
NOTIFICATION

DateNotification No.AmendmentDownload
29.07.2021G.S.R. 514(E) ; 83/2021/F. No. 370142/30/2021-TPL]The Income-tax (21st Amendment) Rules, 2021.
after rule 129, the following rules shall be inserted, namely:-
1) Rule 130. Omission of certain rules and Forms and savings
2) Rule 131. Electronic furnishing of Forms, Returns, Statements, Reports, orders etc.-
Click here

CIRCULAR
11.01.2022 : Extension of timelines for filing of Income-tax returns and various reports of audit for the Assessment Year 2021-22– reg.
Circular No.15/2021 dated 03.08.2021 :Extension of time lines for e-filing of various Forms under the Income Tax Act, 1961

CBDT has considered the difficulties reported by the taxpayers and other stakeholders in e-filing of certain Forms under the provision of Income Tax Act, 1961 read with Income-tax Rules, 1962 and extends the due date as mentioned below:

  1. The Quarterly statement in Form No. 15CC to be furnished by authorized dealer in respect of remittances made for the quarter ending on 30th June, 2021 , required to be furnished on or before 15th July, 2021 under Rule37BB of the Rules, as extended to 31’t Ju1Y,2021 vide Circular No.1 2 of2021 dated 25.06.2021 , may be filed on or before 31 st August, 2021;
  2. The Equalization Levy Statement in Form No.1 for the Financial Year 2020- 21, which was required to be filed on or before 30th June, 2021 , as extended to 31 st July, 2021 vide Circular No.12 of 2021 dated 25.06.2021, may be filed on or before 31 st August, 2021;
  3. The Statement of Income paid or credited by an investment fund to its unit holder in Form No. 640 for the Previous Year 2020-21 , required to be furnished on or before 15th June, 2021 under Rule 12CB of the Rules, as extended to 15th Ju1Y,2021 vide Circular No.12 of2021 dated 25.06.2021 , may be furnished on or before 15th September,2021 ;
  4. The Statement of Income paid or credited by an investment fund to its unit holder in Form No. 64C for the Previous Year 2020-21 , required to be furnished on or before 30th June, 2021 under Rule 12CB of the Rules, as extended to 31st July, 2021 vide Circular No. 12 of 2021 dated 25.06.2021 , may be furnished on or before 30th September, 2021 .

Further due to non-availability of the utility for e-filing of certain forms, the CBDT, in exercise of the powers under Section 119 of the Act, extends the due dates for e-filing of such forms as under:

  • Intimation to be made by a Pension Fund in respect of each investment made by it in India in Form No. 10BBB for the quarter ending on 30th June,2021 , required to be furnished on or before 31 st Ju1Y,2021 under Rule 2DB of the Rules, may be furnished on or before 30th September, 2021 ;
  • Intimation to be made by Sovereign Wealth Fund in respect of investments made by it in India in Form II SWF for the quarter ending on 30th June,2021, required to be furnished on or before 31 st Ju1Y,2021 as per Circular No.15 of 2020 dated 22.07.2020, may be furnished on or before 30th September, 2021.

CBDT also clarifies that the above said forms , e-filed, after the expiry of time limits provided as per Circular No.12 of 2021 dated 25.06.2021 or as per the relevant provisions, till date, will stand regularised accordingly. Read Circular

close

Begin typing your search term above and press enter to search. Press ESC to cancel.

Back To Top