Central Board of Direct Taxes
‘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 ..
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 ..
Month: Current Affairs – November, 2022
Category: Economy & Banking Current Affairs • 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 ..
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 ..
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
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 ..
Month: Current Affairs - July, 2020
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 ..
Month: Current Affairs - July, 2020
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 ..
Month: Current Affairs - July, 2020
IT Department to Undertake Drive to Improve Return Filings for FY19
The Central Board of Direct Taxes has announced that it is going to start a campaign from July 20 till the end of the month in order to increase the number of tax filings for the Financial Year 2019-2020. It ..
Month: Current Affairs - July, 2020
CBDT inaugurates Web Portal for exchange of information on Income Tax
Central Board of Direct Taxes (CBDT) has inaugurated the Web Portal for Exchange of Information on Income Tax which will consolidate all relevant Automatic Exchange of Information (AEOI) related information at one place. This portal will help in convenient access ..