Income Tax Returns  

For those taxpayers whose accounts need to be audited, the ITR filing deadline has been extended by two months till 31 January, 2021

Finance minister Nirmala Sitharaman on Tuesday announced that the deadline for filing 2018-19 Income Tax returns, Goods and Service Tax returns and linking Aadhaar with PAN has been extended to June 30

The accused would call up victims and pretend to be an income tax officer looking to update information about income tax returns.

A new income tax form for salaried individuals will be introduced from April 1, doing away with some columns to simplify the filing of returns. 

The target set by the Income Tax department of Karnataka and Goa region was ₹85,478 crore, and the department has already collected ₹86,229.50 crore.

The central government is amending RBI Act and the I-T Act to ensure that the political parties file their income tax returns on time or lose the tax exemptions. 

The new IT amendment bill imposes various penalties on unaccounted income, but will such measures impact black or shadow economy is very much questionable. 

CBDT confirmed that in the case of IT department sees manipulation in income in income tax return of last year; scrutiny will be conducted on such taxpayers.