Category Archives: IT Circular

CBDT Circular No 18/2020 Vivad se Vishwas Scheme Payment Clarification

By | October 28, 2020

The Central Board of Direct Taxes (CBDT) has granted major relief to taxpayers who opted for Vivad se Vishwas Scheme. The Board has clarified the designated authority shall allow the declarant to make payment without additional amount on or before 31-03-2021 if he files declaration by 31-12-2020. The requirement of payment within 15 days from… Read More »

CBDT Circular No 17/2020 TDS/TCS on Sale of Goods/Services from 01.10.2020

By | September 29, 2020

Circular No 17/2020 TDS/TCS on Sale of Goods/Services from 01.10.2020 F. No.370133/22/2020-TPL Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes (TPL Division) Dated: 29th September, 2020 Sub.: Guidelines under section 194-0 (4) and section 206C (1-1) of the Income-tax Act, 1961 – reg. Finance Act, 2020 inserted a new… Read More »

All Income Tax Faceless Assessment Orders to be passed by National e­-Assessment Centre from 13.08.2020

By | August 15, 2020

All Assessment to be Faceless and orders to be passed by National e­-Assessment Centre from 13.08.2020 F. No. 187/3/2020-ITA-I Government of India Ministry of Finance Department  of  Revenue (Central Board of Direct Taxes) ***** North Block, New Delhi – 110001. Dated  the  13th August,  2020 ORDER Subject: Order under section 119 of the Income –tax Act, 1961… Read More »

One-time relaxation for Verification of tax returns : Circular 13/2020

By | July 13, 2020

One-time relaxation for Verification of tax-returns for the Assessment years 201S-16, 2016-17, 2017-18, 2018-19 and 2019-20 which are pending due to non-filing of ITRV form and processing of such returns – reg. Circular No. 13 /2020 F. No. 225/59/2020/ITA-1I Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi,… Read More »

Section 269SU shall not be applicable for B2B Transactions if 95% amount not received in cash: CBDT

By | May 22, 2020

The CBDT had notified ‘Debit card powered by RuPay’ and ‘UPI’ notified as prescribed mode of payments for the purpose of section 269SU. Considering the maximum payment limit prescribed under these modes, which are aren’t relevant for B2B businesses, the CBDT has clarified that Sec. 269SU shall not be applicable in case of person having… Read More »

Circular No 11/2020 Dated 08.05.2020 : NRI Status for FY 2019-20 Clarification by CBIC

By | May 9, 2020

Circular No 11/2020 Dated 08.05.2020 F. No. 370142/18/2020-TPL Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes Circular No 11/2020 Dated 08.05.2020 ***** Circular 11. of 2020 New Delhi, May 8, 2020 Clarification in respect of residency under section 6 of the Income-tax Act,1961​ 1. Section 6 of the Income–tax… Read More »