CBDT Notifies New Form 29D For Refund Of Tax Deducted
2 years, 3 months ago

CBDT Notifies New Form 29D For Refund Of Tax Deducted

Live Law  

The Central Board of Direct Taxes has notified the new Form 29D for refund of tax deducted. The amendment added a new Rule 40G to the Income-tax Rules of 1962 relating to Refund Claim under Section 239A. Section 239A states that if no tax deduction was required, a taxpayer may apply to the Assessing Officer for a refund of tax deducted under Section 195 on any income. 29D deals with the application by a person under section 239A of the Income-tax Act, 1961, for a refund of tax deducted.

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History of this topic

CBDT Notifies ITR-6 For AY 2024-25
10 months, 3 weeks ago

CBDT Notifies ITR-6 For AY 2024-25

Live Law  

The Central Board of Direct Taxes notified the Income Tax Return Form ITR-6 for the Assessment Year 2024-25 with effect from April 01, 2024.The has notified the Income-tax Rules, 2024 to further amend Income-tax Rules, 1962.The companies which are registered under the Companies Act 2013 or the previous Companies Act 1956 should file ITR 6 Form. The Central Board of …

CBDT Condones Delay In Filing Of Form No. 10-IC For Assessment Year 2021-22
1 year, 1 month ago

CBDT Condones Delay In Filing Of Form No. 10-IC For Assessment Year 2021-22

Live Law  

The Central Board of Direct Taxes has notified the condonation of delay under section 119 of the Income-tax Act, 1961 in filing of Form No. 10-IC for Assessment Year 2021-22.Form 10-IC is required to be filed only if a Domestic Company chooses to pay tax at concessional rate of 22% under Section 115BAA of the Income Tax Act, 1961.The Board …

CBDT Notifies Rule 21AHA And Form 10-IFA For New Manufacturing Co-Operative Societies To Opt For 15% Concessional Tax Rate
1 year, 2 months ago

CBDT Notifies Rule 21AHA And Form 10-IFA For New Manufacturing Co-Operative Societies To Opt For 15% Concessional Tax Rate

Live Law  

The Central Board of Direct Taxes has notified the Income-tax Rules, 2023.The new rule 21AHA is in respect of the Exercise of option under section 115BAE. The option to be exercised in accordance with the provisions of sub-section of section 115BAE by a person, being a cooperative society resident in India, for any previous year relevant to the. The option …

CBDT Extends Time Limits For Submission Of TDS/TCS Statements
1 year, 5 months ago

CBDT Extends Time Limits For Submission Of TDS/TCS Statements

Live Law  

The Central Board of Direct Taxes has extended the time limits for the submission of TDS and TCS Statements.The CBDT provides relaxation in the statement of deduction of tax for the first quarter of the financial year 2023–24, required to be furnished in Form No. The Central Board of Direct Taxes has extended the time limits for the submission of …

CBDT Notifies New Monetary Limits For Condonation Of Delay In Filing Refund Claim And Claim Of Carry Forward Of Losses
1 year, 6 months ago

CBDT Notifies New Monetary Limits For Condonation Of Delay In Filing Refund Claim And Claim Of Carry Forward Of Losses

Live Law  

The Central Board of Direct Taxes has issued new monetary limits in respect of condonation of delay in filing refund claim and claim of carry forward of losses under Section 119 of the Income-tax Act, 1961.The Principal Commissioners of Income-tax/Commissioners of Income-tax shall be vested with the powers of acceptance/rejection of applications/claims if the. The Central Board of Direct Taxes …

CBIC Issues Clarification On Refund Related Issues
2 years, 1 month ago

CBIC Issues Clarification On Refund Related Issues

Live Law  

The Central Board of Indirect Taxes and Customs has issued a clarification on GST refund-related issues.The CBIC has received various representations from the trade and field formations seeking clarification on various issues pertaining to the implementation of the formula prescribed under Rule 89 of the CGST Rules, 2017 and the restriction on refund of unutilised ITC on account. The CBIC …

CBDT Notifies ITR-A Under Section 170A For Filing Modified Return Pursuant To Business Reorganisation
2 years, 3 months ago

CBDT Notifies ITR-A Under Section 170A For Filing Modified Return Pursuant To Business Reorganisation

Live Law  

The Central Board of Direct Taxes has notified Form ITR-A for filing the modified income tax return under Section 170A of Income Tax Act, 1961 pursuant to business reorganisation. As per the newly inserted Rule 12 AD, the modified return of income to be furnished by a successor entity to a business reorganisation, as referred to in Section 170A, shall …

Businesses Get Time Till June to File Form to Get Tax Rebate, Says CBDT; Details Here
2 years, 9 months ago

Businesses Get Time Till June to File Form to Get Tax Rebate, Says CBDT; Details Here

News 18  

In a good news to business owners, the Central Board of Direct Taxes, or CBDT, has given some extra time to businesses to file a key form that is required to avail lower corporate taxes without incentives in tax, which was offered to them in 2019. As per a CBDT statement, the deadline has now been extended till June 30 …

ITR Filing: Importance of Form 26AS, key changes for AY 2020-21
4 years, 1 month ago

ITR Filing: Importance of Form 26AS, key changes for AY 2020-21

India Today  

The Central Board of Direct Taxes has notified two Income Tax return forms for the assessment year of 2020-21. Importance of Form 26AS: Form 26AS helps you verify the tax credits and computation of income before filing the income tax return. Apart from this, Form 26AS also reflects details of Annual Information Return, which is filed by different entities based …

CBDT issues refunds of over ₹1,29,190 cr to nearly 4 mn taxpayers since April
4 years, 1 month ago

CBDT issues refunds of over ₹1,29,190 cr to nearly 4 mn taxpayers since April

Live Mint  

New Delhi: The Central Board of Direct Taxes on Wednesday said it has so far issued over ₹1,29,190 crore in refunds to over 39.49 lakh taxpayers from April till November 3. As per the I-T Department, income tax refunds of ₹34,820 crore have been issued in connection with 37,55,428 cases and corporate tax refunds of ₹94,370 crore have been issued …

CBDT issues over ₹98,625 crore to 26.2 lakh taxpayers since April
4 years, 3 months ago

CBDT issues over ₹98,625 crore to 26.2 lakh taxpayers since April

Live Mint  

The Central Board of Direct Taxes has issued refunds of over ₹98,625 crore to more than 26.2 lakh taxpayers between April 1 to September 1, 2020, said the Income Tax Department in a statement on Wednesday. The CBDT earlier said the income tax authorities can share information with scheduled commercial banks, a move that would ease the lenders’ hassle of …

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