Category Archives: Direct Tax

CBDT extends timelines to ease compliances in wake of Covid-19

CBDT, in continuation to address hardship being faced by various stakeholders on account of the Covid-19 pandemic, has extended timelines for compliances under the Income Tax Act, 1961 (‘the I. T. Act’) and Prohibition of Benami Property Transaction Act, 1988 … Continue reading

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CBDT Extends Due Dates for Filing of Income Tax Returns and Various Reports of Audit for AY 2021-22

In the light of difficulties reported by the taxpayers and other stakeholders in filing of Income Tax Returns and various reports of audit for the Assessment Year 2021-22 under the Income-tax Act, 1961 (‘Act’), CBDT has extended due dates as … Continue reading

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Key Highlights of Covid Relief Packages Announced by The FM On 28th June 2021 in View of 2nd wave of Covid-19 Pandemic

The Union Finance Minister addressing the nation on 28th June 2021, announced a slew of measures to provide relief to diverse sectors affected by the 2nd wave of COVID-19 pandemic. The measures announced also aim to prepare the health systems … Continue reading

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CBDT extends certain timelines & announces Exemptions for Covid-19 expenditure & ex gratia

CBDT on account of genuine hardship being faced by taxpayers in making various compliances under the Income Tax Act (‘the Act’) in view of severe Covid-19, eases the compliance burden of taxpayers by providing relaxations in respect of the following … Continue reading

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Compliance Check functionality of Tax Department for sections 206AB & 206CCA (applicable w.e.f 1 July 2021)

The Finance Act, 2021 had brought in section 206AB (TDS for non-filers of Income Tax Return) & 206CCA (TCS for non-filers of Income Tax Return) which is effective from 1 July 2021. These sections mandate tax deduction (section 206AB) or … Continue reading

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