Date

Particulars

March 18, 2021

  • An updated version of form 64D as per notification no. 55/2020 is now available for filing

March 17, 2021

  • CBDT issues refunds of over Rs. 2,04,805 crore to more than 2.09 crore taxpayers between 1st April,2020 to 15th March,2021. Income tax refunds of Rs. 73,607 crore have been issued in 2,06,64,547 cases & corporate tax refunds of Rs. 1,31,198crore have been issued in 2,21,014 cases

  • CBDT issues clarification on continuation of concessional rate of tax on interest income of FPIs. It has been clarified that the concessional rate of 5% will continue to be applicable on certain interest income of FPIs. Read Press Release Here!

March 12, 2021

March 11, 2021

  • CBDT issues notification for 3rd Amendment Rules. Read Notification Here!

  • CBDT issues refunds of over Rs. 2,00,411 crore to more than 2.02 crore taxpayers between 1st April, 2020 to 8th March, 2021. Income tax refunds of Rs. 71,865 crore have been issued in 1,99,44,329 cases & corporate tax refunds of Rs. 1,28,546 crore have been issued in 2,20,372 cases

March 9, 2021

March 4, 2021

  • CBDT issues circular under section 10 for direct tax Vishwas se Vivad Act. Read Circular Here!

March 3, 2021

  • CBDT issues refunds of over Rs. 1,98,106 crore to more than 1.95 crore taxpayers between 1st April, 2020 to 28th February, 2021. Income tax refunds of Rs. 70,572 crore have been issued in 1,92,45,556 cases & corporate tax refunds of Rs. 1,27,534 crore have been issued in 2,19,050 cases.

    CBDT issues clarification in respect of Residency under the IT Act, 1961. Read Press Release Here!

February 27, 2021

CBDT extends various limitation dates via Notification no. 10/2021 in S.O. 966 (E). Read Here!

  • Date for passing of assessment or reassessment orders under the Income Tax Act, that are getting time barred on 31st March, 2021 due to extension of limitation date by the notification datedt 31st December, 2020 has been extended to 30th April, 2021.

  • Date for passing assessment or reassessment orders (not covered by (i) above), that are getting time barred on 31st March, 2021, as per time limit specified in section 153 / 153B of the Income-Tax Act, has been extended by 6 months i.e. to 30th September, 2021.

  • Date for passing of penalty orders extended to 30th June, 2021. Date for issue of notice & passing of orders by Adjudicating Authority under the Benami Act extended to 30th September, 2021.

February 26, 2021

  • CBDT further extends the date for filing of declarations under the Vivad Se Vishwas Act, 2020 to 31st March, 2021. Read Notification Here!

  • Income Tax Department issues FAQs on Video Conferencing and Seek Adjournment for faceless proceedings. Read FAQs Here!

February 25, 2021

  • Income Tax Department directs users to e-verify their returns to process their Income Tax Return and receive Income Tax refund.

  • CBDT issues refunds of over ₹1,95,736 crore to more than 1.93 crore taxpayers between 1st April, 2020 to 22nd February, 2021. Income tax refunds of ₹69,653 crore have been issued in 1,90,52,977 cases & corporate tax refunds of ₹1,26,083 crore have been issued in 2,17,399 cases.

February 17, 2021

  • CBDT issues refunds of over ₹1,93,455 crore to more than 1.90 crore taxpayers between 1st April, 2020 to 15th February, 2021. Income tax refunds of ₹68,515 crore have been issued in 1,88,02,365 cases & corporate tax refunds of ₹1,24,939 crore have been issued in 2,16,064 cases.

  • Central Board of Direct Taxes notifies Faceless Assessment (1stAmendment) Scheme, 2021. Read Notification Here!

  • Central Board of Direct Taxes published notification related to National e-Assessment. Read Notification Here!

February 10, 2021

  • CBDT issues refunds of over ₹1,91,015 crore to more than 1.87 crore taxpayers between 1st April, 2020 to 08th February, 2021. Income tax refunds of ₹67,334crore have been issued in 1,84,45,638 cases & corporate tax refunds of ₹1,23,680 crore have been issued in 2,14,935 cases.

February 4, 2021

  • CBDT issues refunds of over ₹1,85,409 crore to more than 1.81 crore taxpayers between 1st April, 2020 to 01st February, 2021. Income tax refunds of ₹64,966 crore have been issued in 1,78,62,798 cases & corporate tax refunds of ₹1,20,443 crore have been issued in 2,13,387 cases.

February 1, 2021

  • Finance Minister Smt. Nirmala Sitharamn presented its first ever digital Union Budget of 2021-2022.

  • Finance Minister announced various proposals in direct tax. Read Direct Tax Proposals Here!

  • CBDT further extends the date for filing of declarations under the Vivad Se Vishwas Act, 2020 to 28th February, 2021. Read Notification Here!

  • A disputed amount of ₹95,000 crore has been settled by about 1.20 lakh entities who opted for the Vivad Se Vishwas scheme to resolve long pending litigation issues with the Income Tax Department, Central Board of Direct Taxes

January 31, 2021

  • Finance Minister to present the Union Budget 2021-2022 on 1st Feb, 2021.

January 29, 2021

January 27, 2021

  • CBDT issues refunds of over ₹1,81,336 crore to more than 1.74 crore taxpayers between 1st April, 2020 to 25th January, 2021. Income tax refunds of ₹62,231 crore have been issued in 1,71,77,174 cases & corporate tax refunds of ₹1,19,105 crore have been issued in 2,12,506 cases.

January 20, 2021

  • CBDT issues refunds of over ₹1,76,217 crore to more than 1.65 crore taxpayers between 1st April, 2020 to 18th January, 2021. Income tax refunds of ₹58,631 crore have been issued in 1,62,39,742 cases & corporate tax refunds of ₹1,17,586 crore have been issued in 2,11,338 cases.

January 19, 2021

  • CBDT passes order under Section 119 of the Income Tax Act disposing off the representations for extension of due date for filing of Audit Report under Section 44AB in compliance with the order of Hon’ble Gujarat High Court dated 8th January, 2021. Read Order Here!

January 15, 2021

  • Here are the statistics of TARs filed. A total of 28.85 lakh Forms 3CA & 3CB were filed till 15th January, 2021(extended due datet) as against 28.26 lakh Forms 3CA & 3CB filed till 31st October, 2019 (extended due date). This includes 3.46 lakh Forms 3CA & 3CB filed on 15th January, 2021.

January 13, 2021

  • CBDT issues refunds of over ₹1,73,139 crore to more than 1.57 crore taxpayers between 1st April, 2020 to 11th January, 2021. Income tax refunds of ₹57,139 crore have been issued in 1,54,55,577 cases & corporate tax refunds of ₹1,15,999 crore have been issued in 2,10,150 cases.

January 12, 2021

  • CBDT launches e-portal for filing complaints regarding tax evasion/Benami Properties/Foreign Undisclosed Assets. Read Press Release Here!

  • CBDT notifies the Faceless Penalty Scheme, 2021. Notification in S.O.117(E) dated 12th January, 2021 notifying the Faceless Penalty Scheme, 2021 issued. Read Notification Here!

  • CBDT notifies Faceless Penalty Scheme, 2021. Read Notification here!

January 10, 2021

  • Total 5,38,36,939 Income Tax Returns have been filed till midnight of 10th January, 2021.

January 8, 2021

  • In view of new restrictions by UIDAI of a maximum of 5 OTP requests for a single Aadhaar within a span of 30 minutes, taxpayers are requested to give sufficient time before multiple submissions for Aadhaar OTP

January 7, 2021

  • TDS FVU version 7.0 related changes have been enabled in e-filing portal

January 6, 2021

  • CBDT issues refunds of over ₹1,64,016 crore to more than 1.41 crore taxpayers between 1st April, 2020 to 04th January, 2021. Income tax refunds of ₹53,070 crore have been issued in 1,38,85,044 cases & corporate tax refunds of ₹1,10,946 crore have been issued in 2,06,847 cases.

January 2, 2021

  • Taxpayers are advised to download & use the latest utilities(updated on 01.01.2021)from the efiling portal so that Section 234A & Section 234F interest/fee respectively are calculated correctly. The data from the saved XML/EXCEL utility can be imported into the new utility. If the user still experiences any issues, please write to Income Department at bit.ly/2YgCyk3.

January 1, 2021

  • CBDT issues press release for extension of due dates for filing Income-Tax Returns and Tax Audit Reports under the Income-tax Act, 1961 for AY 2020-21. Read the Press Release here!

  • Taxpayers were wrongly charged with late fees under Section 234F of Income Tax Act, 1961 despite of Income Tax Return filing extension.

  • Timeline before which UDIN are to updated with respect to the audit report and certificates uploaded from 27th April, 2020 extended up to 15th February, 2021. Kindly update to avoid invalidation.

  • CBDT has extended the due date for filing Income Tax Returns for the Assessment Year 2020-21. Accordingly the ITRs are modified to update the 234A interest & 234F Fee calculation and the same is available for download.

  • Extension in dates of settlement through Vivad se Vishwas Scheme. Read Press Release here!

Direct Tax Updates