Central Board of Direct Taxes: GK, General Studies and Current Affairs

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 launching a platform to that effect. Details of the Platform The platform, named as ‘Transparent ..

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 country and to ease the compliance aspect for the taxpayers in the country. The earlier ..

FIU and IT Department Join Hands to Check Suspicious Cash Transactions

The Income Tax Department has been allowed to share the PAN Card details of an individual entity with the Financial Intelligence Unit so that the FIU can investigate the possible sources of any large cash transaction. It will help in the detection of such suspicious transactions at banks. This has been allowed by the Central ..

CBDT and CBIC Sign MoU for Exchange of Data

A memorandum of understanding has been signed between the Central Board of Direct Taxes and the Central Board of Indirect Taxes and Customs in order to ensure the smooth exchange of data between the two organizations. This was signed in the presence of the chairman of both the organizations along with other senior officials. It ..

MoU Signed Between CBDT and MSME Ministry for Data-Sharing

The Central Board of Direct Taxes (CBDT) and the Ministry of Micro, Small and Medium Enterprises have signed a memorandum of understanding regarding sharing of data by the CBDT with the MSME Ministry. This has been signed by the dignitaries of both the parties present in a function. Regarding the MoU, it is aimed at ..