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Income Tax Archives - Page 6 of 19 - All About Finance

Now Tax Deductor can file TDS/TCS return through e-filing portal

F. No. DGIT(S)/ADG(S)-2/TDS e-filing Notification/110/2016 Government of India Ministry of Finance Central Board of Direct Taxes Directorate of Income Tax (Systems) Notification No 6 /2016 New Delhi, 4th May, 2016 Procedure for online submission of statement of deduction of tax under sub-section (3) of section 200 and statement of collection of tax under proviso to … Read more

E-filing Vault for the income tax payers to secure their e-filing account

Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes PRESS RELEASE New Delhi, 4th April, 2016  Sub:Release of new functionality to taxpayers to secure their E-filing account -reg The Income Tax Department has from time to time issued advisories regarding the need to avoid phishing emails and to carefully protect … Read more

EVC for electronically filed Form of Appeal to Commissioner Appeal

Government of India Ministry of Finance Central Board of Direct Taxes Directorate of Income Tax (Systems) Notification No. 5/2O16 New Delhi, 6th of April 2016 Subject: Electronic Verification Code (EVC) for electronically filed Form of Appeal to Commissioner (Appeals) In exercise of the powers conferred by sub-section (1) of section 249 read with section 295 … Read more

Procedure for registration and submission of statement under section 285BA

DGIT(S)-ADG(S)-2/e-filing notification/106/2016 Government of India Ministry of Finance Central Board of Direct Taxes Directorate of Income Tax (Systems)   Notification No 4/2016 New Delhi,6 April, 2016 Procedure for registration and submission of statement as per clause (k) of sub section (1) of section 285BA of Income-tax Act, 1961 read with Sub rule (7) of Rule … Read more

Inclusion of Interest Income in the Income Tax Return

Information regarding interest earned by individuals and business entities on term deposit is filed with the Income Tax Department by banks including co-operative banks and other financial institutions and State treasuries etc. Form 26AS reflects only those payments on which tax has been deducted and it can be viewed by the individual tax payer by … Read more

CBDT directs that all rectification orders should be in writing and duly serve to the taxpayer

Instruction No.  02/2016 Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes North Block, New Delhi, the 15th of February, 2016 Subject: Passing rectification order under section 154 Income-tax Act, 1961 -regd.- Instances have come to the notice of the Board that in some cases rectification order under section 154 … Read more

Income Tax authority shall pass the order of rectification of mistake within the period of six months

Instruction No.01/2016 Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes North Block, New Delhi, the 15th of February, 2016 Subject: Following the prescribed time-limit in passing order under sub-section (8) of section 154 of Income-tax Act, 1961-regd.-    Sub-section (8) of section 154 of the Income-tax Act, 1961 (`Act’) … Read more

Steps taken by Income Tax Department for safeguarding taxpayers from Phishing emails

The Income Tax Department has been at the forefront of using technology in implementing its –e-Governance initiatives. Most of its routine communication to taxpayers is through email and SMS. Therefore, the Department is very sensitive and alert to attempts made by fraudsters to spoof the Department’s identity to send phishing emails. To ensure that taxpayers … Read more

Demat and Bank account details are the additional mode for EVC

F No. 1/23/CIT(OSD)/E-filing- Electronic Verification /2015-16 Government of India Ministry of Finance Central Board of Direct Taxes Directorate of Income Tax (Systems) Notification No. 1 / 2016 New Delhi Dated the 19th day of January 2016 Subject: Electronic Verification CODE (EVC) for electronically filed Income Tax Return — Additional Modes.   Explanation to sub rule … Read more

Income tax refunds will issue without any adjustment of outstanding arrears if arrears are up to Rs.5000

In an initiative to reduce taxpayer grievances and enhance the taxpayer satisfaction, the Central Board of Direct Taxes had issued instructions to Central Processing Center (CPC), Bengaluru and the field officers in December, 2015 to issue refunds of amounts less than Rs.50,000/- expeditiously. As a result of the special drive to issue smaller refunds, 18,28,627 … Read more