Showing posts with label income tax returns. Show all posts
Showing posts with label income tax returns. Show all posts

Wednesday, 24 July 2019

CBDT – Order under Section 119 of the Income-tax Act, 1961

CBDT – Order under Section 119 of the Income-tax Act, 1961

CBDT

Order under Section 119 of the Income-tax Act, 1961

Extension of due date for filing of ITRs for the A.Y 2019-20 from 31st July, 2019 to 31st August, 2019

F. No. 225/157/2019/ ITA.II
Government of India
Ministry of Finance
Department of Revenue
Central Board of Direct Taxes

North-Block, ITA-II Division
New Delhi, the 23rd of July, 2019

Order under Section 119 of the Income-tax Act, 1961

The ‘due-date’ for filing income-tax returns for Assessment-Year 2019-20 is 31.07.2019 for certain categories of taxpayers. It has been reported that some of the taxpayers are facing difficulties in filing their income- tax returns due to various reasons including extension of due date for issue of Form 16 for the Assessment-Year 2019-20.

In this regard, the Central Board of Direct Taxes, in exercise of its powers conferred under section 119 of the Income-tax Act, 1961 (‘Act’), hereby extends the ‘due-date’, as prescribed under section 139(1) of the Act, for filing income-tax returns from 31st July, 2019 to 31st August, 2019 in cases of all taxpayers who are liable to file their income-tax returns by the said ‘due-date’.

sd/-
(Rajarajeswari R.)
Under Secretary to the Government of India

Source: Income tax India

Tuesday, 22 January 2019

CBDT identifies non-filers through Non-filers Monitoring System (NMS) by using Data Analytics and request the Non-filers to assess their tax liability for AY 2018-19 and file the Income Tax Returns (ITR) or submit online response within 21 days


Ministry of Finance
CBDT identifies non-filers through Non-filers Monitoring System (NMS) by using Data Analytics and request the Non-filers to assess their tax liability for AY 2018-19 and file the Income Tax Returns (ITR) or submit online response within 21 days
22 JAN 2019
The Non-filers Monitoring System (NMS) aims to identify and monitor persons who enter into high value transactions and have potential tax liabilities but have still not filed their tax returns. Analysis was carried-out to identify non-filers about whom specific information was available in the database of the Income Tax Department. The sources of information include Statement of Financial Transactions (SFT), Tax Deduction at Source (TDS), Tax Collection at Source (TCS), information about foreign remittances, exports and imports data etc.

Data analysis has identified several potential non-filers who have carried-out high value transactions in Financial Year 2017-18 but have still not filed Income Tax Return for Assessment Year 2018-19 (relating to FY 2017-18).

The Department has enabled e-verification of these NMS cases to reduce the compliance cost for taxpayers by soliciting their response online. It is reiterated that there is no need to visit any Income Tax office for submitting response, as the entire process is to be completed online. Taxpayers can access information related to their case from the ‘Compliance portal’ which is accessible through the e-filing Portal of the Department at https://incometaxindiaefiling.gov.in. The PAN holder should submit the response electronically on the Compliance Portal and keep a printout of the submitted response for record purposes. User Guide and FAQs are provided under the "Resources" Menu on Compliance Portal.

Non-filers are requested to assess their tax liability for AY 2018-19 and file the Income Tax Returns (ITR) or submit online response within 21 days. If the explanation offered is found to be satisfactory, matters will be closed online. However, in cases where no return is filed or no response is received, initiation of proceedings under the Income-tax Act, 1961 will be considered.

PIB

Tuesday, 25 September 2018

Extension of date for filing of Income Tax Returns and Audit Reports from 30th September, 2018 to 15th October, 2018


Ministry of Finance
Extension of date for filing of Income Tax Returns and Audit Reports from 30th September, 2018 to 15th October, 2018
24 SEP 2018

The due date for filing of Income Tax Returns and Audit Reports for Assessment Year 2018-19 is 30th September, 2018 for certain categories of taxpayers. Upon consideration of representations from various stakeholders, the Central Board of Direct Taxes(CBDT) extends the ‘due date’ for filing of Income Tax Returns as well as reports of Audit (which were required to be filed by the said specified date) from 30th September, 2018 to 15th October, 2018 in respect of the said categories of taxpayers. However, there shall be no extension of the due date for the purpose of section 234A (Explanation 1) of the I.T. Act, 1961 pertaining to Interest for defaults in furnishing return, and the assessee shall remain liable for payment of interest as per provisions of section 234A of the Act.

PIB

Thursday, 26 July 2018

Extension of Due Date for filing of Income Tax Returns


Ministry of Finance
Extension of Due Date for filing of Income Tax Returns

Posted On: 26 JUL 2018 6:16PM by PIB Delhi

The due date for filing of Income Tax Returns for Assessment Year 2018-19 is 31.07.2018 for certain categories of taxpayers. Upon consideration of the matter, the Central Board of Direct Taxes (CBDT) extends the 'due date' for filing of Income Tax Returns from 31st July, 2018 to 31st August, 2018 in respect of the said categories of taxpayers.

PIB

Thursday, 9 February 2017

CBDT issues Certificates of appreciation to nearly 3.74 lakh tax payers for their contribution towards Nation building


CBDT issues Certificates of appreciation to nearly 3.74 lakh tax payers for their contribution towards Nation building
Press Information Bureau
Government of India
Ministry of Finance
07-February-2017 20:26 IST
CBDT issues Certificates of appreciation to nearly 3.74 lakh tax payers for their contribution towards Nation building

In continuation of the initiative of the Government to acknowledge the contribution of tax payers by paying taxes towards nation building and promptness in filing of Income Tax Returns, CBDT has issued the third round of Certificates to nearly 3.74 Lakh tax payers. With this, the total number of certificates issued by CBDT now stands at approximately 23 Lakh.

Individual tax payers may take note that such certificates of appreciation are only sent by e-mail in various categories on the basis of the taxes paid by them for the Assessment Year 2016-17, where taxes have been paid in full, tax payers have no outstanding tax liabilities, the return is e-filed within the prescribed due date and verified through Digital Signature or Electronic Verification Code (EVC) or submission of signed ITR-V to CPC Bangalore. The categories for individual taxpayers are:
i. Platinum - Taxpayers who have contributed Rs 1 Crore and above as tax
ii. Gold - Taxpayers who have contributed between Rs 50 Lakh and Rs 1 Crore as tax
iii. Silver - Taxpayers who have contributed between Rs 10Lakh and Rs 50 Lakh as tax
iv. Bronze - Taxpayers who have contributed between Rs 1Lakh and Rs 10 Lakh as tax
Taxpayers are advised to verify and update their email address and mobile number on the e-filing website to receive electronic communication. It may be noted that taxpayers can provide upto two email and two mobile numbers in their profile. Therefore, it is strongly advised that taxpayers should provide their personal and regularly used Email and Mobile number as their primary email.

The CBDT urges taxpayers to e-file their returns in time and verify their return by submitting the Electronic Verification Code online or sending their ITR-V within the 120 day period so that they can be also acknowledged for their contribution.

Wednesday, 14 December 2016

Finance Minister conveys Government's Appreciation to tax payers for their contribution towards Nation building


Finance Minister conveys Government's Appreciation to tax payers for their contribution towards Nation building
Government of India
Ministry of Finance
Department of Revenue
Central Board of Direct Taxes
New Delhi, 19th September, 2016.
Press Release

Sub: Finance Minister conveys Government's Appreciation to tax payers for their contribution towards Nation building.

The Government acknowledges the contribution of individual tax payers in paying taxes within the prescribed time and prompt filing of Income Tax Returns. The Honourable Finance Minister, Shri Arun Jaitley today handed over certificates of appreciation issued by CBDT honoring select tax payers for such contribution. While it is widely acknowledged that the Nation meets its obligations towards spending in various social sector and welfare schemes and infrastructure development out of revenues mobilized through tax payments by millions of honest tax payers, this step marks the first effort by the Government to directly communicate to the tax payer its appreciation for that contribution.
CBDT will be sending out such certificates of appreciation to individual tax payers by e-mail in various categories on the basis of the level of taxes paid by them for the current Assessment Year 2016-17 where taxes have been paid in full and tax payers have no outstanding tax liabilities and where the return is e-filed within the prescribed due date. The tax payers may display these certificates in their homes / offices.

The categories for individual taxpayers and the number of certificates being issued in the first round are:

1PlatinumTax  contributed Rs. 1 Crore and above
2GoldTax contributed Rs. 50Lakh to Rs. 1 Crore
3SilverTax contributed Rs. 10Lakh to Rs.50 Lakh
4BronzeTax contributed Rs. 1Lakh to Rs.10 Lakh

The CBDT urges taxpayers to e-file their returns in time and verify their return by submitting the Electronic Verification Code online or sending their ITR-V within the 120 day period so that they can be also acknowledged for their contribution.

The Department is committed to continuous improvement of taxpayer services and seeks the cooperation of all taxpayers in contributing their fair share of taxes voluntarily.

sd/-
(Meenakshi J Goswami)
Commissioner of Income Tax
(Media and Technical Policy)
Official Spokesperson, CBDT.
Source : http://www.incometaxindia.gov.in/

Monday, 4 April 2016

Release of E-filing of Income Tax Returns (ITR) and other forms

Release of E-filing of Income Tax Returns (ITR) and other forms

In pursuance of the Notification of the Income Tax Returns (ITR) for AY 2016-17 on March 31st, 2016, Central Board of Direct Taxes (CBDT) announces the release of electronic filing of ITRs 1 and 4S on its website https://incometaxindiaefiling.gov.in. Other ITRs will be e-enabled shortly.

Online filing of Appeal before Commissioner (Appeal) using newly notified Form 35 has been enabled for taxpayers mandated to E-file their returns using Digital Signature Certificate. Electronic Verification Code (EVC) option will be available shortly for other category of taxpayers. Reference may be made to Notification 11/2016 dated March 1, 2016 for the various categories of taxpayers required to file appeal online.

In pursuance of Notification No 93/2016 dated 16th Dec 2015, effective from 1April 2016, the following forms have been substituted by new forms and are now available for E-filing:
  1. Form 15CA -payments to a non-resident not being a company, or to a foreign company,
  2. Form 15CB-Certificate of an accountant,
  3. Form 15CC -Quarterly statement
Vide Notification No 3/2016 dated 14th Jan 2016, CBDT had substituted with effect from 1 April 2016, Forms 9A (Application for exercise of option under clause (2) of the Explanation to sub-section
(1) of section 11 of the Income tax Act, 1961) and Form 10 (Statement to be furnished to the Assessing Officer/Prescribed Authority under sub-section (2) of section 11 of the Income tax Act, 1961). These forms can be filed online using Digital Signature Certificate on the Income Tax Department’s e-filing website. EVC option will be available shortly.

PIB

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