‘AIS for Taxpayer’ Mobile App

The Income Tax Department has launched a mobile app named ‘AIS for Taxpayer’ to help taxpayers get a comprehensive view of their Annual Information Statement (AIS) on their mobile phones. This move is in line with the government’s Digital India ..

Tags: Central Board of Direct Taxes • Central Board of Direct Taxes (CBDT) • Digital India • Income Tax Department • Mobile Apps

Month: Current Affairs - March, 2023

Category: India Nation & States Current Affairs

Common Income Tax Return Form

A single income tax return (ITR) form was proposed for all taxpayers. The draft of the proposed form was unveiled recently by the Central Board of Direct Taxes (CBDT) to receive public inputs until December 15. How many kinds of ..

Tags: Central Board of Direct Taxes • Central Board of Direct Taxes (CBDT) • direct tax • Direct Tax Reforms • Income Tax

Month: Current Affairs – November, 2022

Category: Economy & Banking Current Affairs - 2022 • India Nation & States Current Affairs

AAR Ruling: GST on Guest Lectures

The Authority for Advance Ruling (AAR) of the Karnataka bench has ruled that 18 percent GST will be levied on the income that is earned from providing guest lectures. Overview: The petitioner contacted the AAR to obtain clarification as to ..

Tags: Central Board of Direct Taxes • CGST • GST • Karnataka • SGST

Month: Current Affairs - February, 2022

Category: Legal & Constitution 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 ..

Tags: CBDT • Central Board of Direct Taxes • corporate tax • direct tax • Direct Tax Reforms

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 ..

Tags: CBDT • Central Board of Direct Taxes • Deadline • Income Tax • IT

Month: Current Affairs - July, 2020

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 ..

Tags: Central Board of Direct Taxes • CTR • Financial Intelligence Unit • Income Tax Department • PMLA

Month: Current Affairs - July, 2020