CBDT
e-Appeals Scheme 2023
The Central Board of Direct Taxes (CBDT) has recently launched the “e appeal” scheme, aimed at addressing the issue of pending appeals related to Tax Deducted at Source (TDS) default and tax collection at source (TCS). This new initiative is ..
Month: Current Affairs - May, 2023
Category: India Nation & States Current Affairs
CBDT notifies 6 income tax return forms
The taxpayer should fill out the income tax return form and submit it to the Income Tax Department. The IT dept calculates the liabilities of the taxpayer. If he or she has paid extra taxes, then a refund is made. ..
Month: Current Affairs - February, 2023
Category: Economy & Banking Current Affairs
Direct Tax Collections of FY 2022-23
The CBDT operating under the Finance Ministry recently released the Revised Estimates of the Direction of Tax collection of the country. In accordance with the report released, the direct tax collection of India has increased by 24% in 2022-23 as ..
Month: Current Affairs - February, 2023
Category: Economy & Banking Current Affairs
Ministry of Corporate Affairs Facility for e – Adjudication
The Ministry of Corporate Affairs launched the MCA21 to speed the access to the services of the ministry. Recently, the ministry added some key features to MCA21. They are e – adjudication, compliance management, and e-consultation. Adjudication means a judgment ..
Month: Current Affairs - January, 2023
Category: Economy & Banking Current Affairs
Committee for pharma marketing practices
A high-level committee has been set up to regulate the promotion of pharmaceutical products. Key facts The Government has set up a five-member committee chaired by Dr VK Paul, NITI Aayog member (health) to create a legal mechanism to address ..
Month: Current affairs - September, 2022
Category: Legal & Constitution Current Affairs
CBDT exempts Sovereign Wealth Fund: Key Facts, Benefits, Types, Sources of Sovereign Wealth Fund
The Central Board of Direct Taxes recently exempted the interest, dividend and long term capital gains made by the Sovereign Fund MIC Redwood 1 RSC Limited of Abu Dhabi, UAE (United Arab Emirates). Highlights The exemption has been provided under ..
Month: Current Affairs - November, 2020
PM to announce next set of direct tax reforms
The Prime Minister Narendra Modi is all set to launch the next set of direct tax reforms in the country keeping in mind the announcements made in the Union Budget 2020-21. The PM will honour the country’s honest taxpayers by ..
Month: Current Affairs - August, 2020
Govt extends deadline for filing income tax returns till September 30
The government has extended the deadline for filing income tax returns for the fiscal year 2018-19 by two months till September 30. Reason The Central Board of Direct Taxes has announced this in view of the pandemic situation in the ..
Month: Current Affairs - July, 2020