Category Archives: IT Circular

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 »

GST Reporting Deferred in Tax Audit : Circular No.10/2020

By | April 28, 2020

Circular No.10/2020 GST F. No. 37014219/20 18-TPL Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes TPL Division New Delhi, dated 24th April, 2020 Order under section 119 of the Income-tax Act, 1961 Section 44AB of the Income-tax Act, 1961 (‘the Act’) read with rule 6G of the Income-tax Rules,… Read More »

CBDT Clarify short deduction of TDS/TCS due to increase in rates of surcharge by Finance (No. 2) Act, 2019 

By | April 14, 2020

Circular No. 8/2020 : Clarification regarding short deduction of TDS/TCS due to increase in rates of surcharge by Finance (No. 2) Act, 2019 Circular No. 8/2020 F. No. 370133/S/2020-TPL Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes (TPL Division) Room No. 147B-II, North Block, New Delhi Dated 13h April,… Read More »

CBDT clarified how to deduct TDS on Salary from FY 2020-21 onwards : Circular C 1 of 2020

By | April 14, 2020

TDS on Salary from FY 2020-21 onwards : Circular C 1 of 2020 : By Circular C 1 of 2020 CBDT clarified how to deduct TDS on Salary from FY 2020-21 onwards :  F. No. 370142/13/2020-TPL Government of India Ministry of Finance Department of Rcvenue Central Board of Direct Taxes New Delhi, April 13,2020 Clarification… Read More »

Direct Tax Vivad Se Vishwas Bill, 2020 : FAQs by CBDT

By | March 5, 2020

Circular No. 71/2020 F. No. IT(A)l1I2020-TPL Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes Dated: 4th March, 2020 Snb.: Clarifications on provisions of the Direct Tax Vivad se Vishwas Bill, 2020 – reg. During the Union Budget. 2020 presentation, the ‘Vivad se Vishwas’ Scheme was announced to provide for… Read More »