Category Archives: Income Tax

Directions for Faceless Penalty Scheme 2021 u/s 274(2B)

By | January 13, 2021

MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 12th January, 2021 INCOME-TAX S.O. 118(E).—In exercise of the powers conferred by sub-section (2B) of section 274 of the Income-tax Act, 1961 (43 of 1961), for the purposes of giving effect to the Faceless Penalty Scheme, 2021 made under sub-section… Read More »

Faceless Penalty Scheme 2021 Launched by CBDT : Download Notification

By | January 13, 2021

MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 12th January, 2021 (INCOME-TAX) S.O. 117(E).—In exercise of the powers conferred by sub-section (2A) of section 274 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby makes the following Scheme, namely:__ 1. Short title and commencement.––(1) This… Read More »

Income Tax Department Search on Doctors Rs 100 crore unaccounted entries revealed

By | January 13, 2021

Income Tax Department conducts searches in Assam Posted On: 12 JAN 2021 7:50PM by PIB Delhi The Income Tax Department carried out search and survey action on 08/01/2021 in the cases of renowned Doctors/Medical professionals of Assam. The search and survey actions were carried out at 29 locations in Guwahati, Nalbari and Dibrugarh in Assam.… Read More »

Income Tax Department conducts searches in Hyderabad Rs 160 Crore entries seized

By | January 13, 2021

Ministry of Finance Income Tax Department conducts searches in Hyderabad Posted On: 12 JAN 2021 7:49PM by PIB Delhi The Income Tax Department carried out a search and seizure action on 07.01.2021 based on investigation in income tax evasion using bogus sub-contractors/shell entities along with enquiries made relating to entities flagged for providing fake Input… Read More »

CBDT launches e-portal for filing complaints regarding tax evasion/Benami Properties/Foreign Undisclosed Assets

By | January 13, 2021

Ministry of Finance CBDT launches e-portal for filing complaints regarding tax evasion/Benami Properties/Foreign Undisclosed Assets Posted On: 12 JAN 2021 Taking another step towards e-governance and encouraging participation of citizen as stakeholders in curbing tax evasion, the Central Board of Direct Taxes has launched an automated dedicated e-portal on the e-filing website of the Department… Read More »

ITR Rectification enabled for AY 2020-21

By | January 12, 2021

The facility to file rectification for Asst Year 2020-21 on the 143(1) intimations issued by CPC Bengaluru, is now enabled for “Return data correction” & “Only Reprocess the return”. The rectification facility for “Tax credit mismatch correction” will be enabled soon.