In an effort to reduce taxpayers grievances, the Central Board of Direct Taxes on Monday directed the Income Tax department to expedite issuance of pending refunds which are below Rs. 50,000. The status of outstanding refunds was reviewed recently. Following the review, the Central Board of Direct Taxes (CBDT) has issued directions to its field…
The Central Board of Direct Taxes has notified use of emails as the new mode of communication between the taxman and taxpayers, as part of the government’s e-initiative to reduce human interface and complaints of harassment and corruption in conducting tax related jobs. The amendment in the Income Tax Act was also required as the…
CBDT has issued a press release regarding extension of due date for deposit of tax deducted at source and tax collected at source for the State of Tamil Nadu. The issued press release has been given below: Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes PRESS RELEASE New Delhi,…
F. No.: DGIT(S)/CPC(TDS)/DCIT/15GH /2015-16/14425-556 Government of India Ministry of Finance Central Board of Direct Taxes Directorate of Income-tax(Systems) New Delhi. Notification No. 4/2015 New Delhi, 1st of December 2015 Subject: Simplification of procedure for Form No.15G & 15H-regarding Section 197A of the Income tax Act provides for no deduction in certain case by submitting a…
Central Board of Direct Taxes (CBDT) has issued a circular which contains the rates of deduction of income-tax from the payment of income chargeable under the head “Salaries” during the financial year 2015-16 and explains certain related provisions of the Act and Income-tax Rules, 1962 (hereinafter the Rules). The issued circular has been given below:…
Taxpayers facing “high-pitched” assessments or unfair scrutiny by the Income Tax Department can now attempt to get their grievances redressed in a short time before undertaking the arduous litigation route of courts or other appellate mechanisms. In a maiden initiative, the Finance Ministry, through the Central Board of Direct Taxes (CBDT), has asked the department…
Background Taxpayers who are not mandated to use a Digital Signature Certificate (DSC) for uploading their India Tax Returns (ITR) are eligible to e-verify the same instead of sending the signed physical copy to the Central Processing Centre, Bangalore to complete the ITR filing process. E-verification of the ITR could be made in one of…
The CBDT has simplified the procedure for filing of self declaration by individuals in 15G and 15H forms, allowing them to do it electronically. Forms 15G and 15H are filed by persons whose incomes are below the taxable threshold, to seek exemption from TDS on interest income. The procedure for submission of the forms by…
In welcome news for taxpayers, the IT department has decided to launch a new system of issuing email notices to which an assessee can respond electronically, obviating the need for a physical interface with the taxman which often led to complaints about harassment. The Central Board of Direct Taxes, the apex policy-making body of the…
The income tax department has launched an ambitious drive to bring under its net 10 million new taxpayers, after the government recently asked the official to achieve the target within the current financial year. As part of the governments initiative to broaden the base, the Central Board of Direct Taxes (CBDT), apex policy making body,…