Annual Information Return (AIR) in response to demonetization of 500 and 1000 notes

Further to the demonetization of the high denomination notes, which is resulting in huge deposits of cash in Bank accounts, to monitor the possible tax evasion CBDT has mandated the reporting of the same by Banks / Cooperative society / Post Offices by amending the Rule 114E of Income Tax.CBDT vide its notification no. 104/2016 dated 15th Novembe

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Salaried Taxpayers to get SMS alert on TDS deduction

In a new move by the CBDT, salaried taxpayers are to get an SMS alert for the TDS deduction made by the employer. This move was launched by the Finance Minister, Arun Jaitley to minimize the TDS mismatch.This new change has come into picture taking into consideration the small taxpayers who cannot afford to pay twice the amount of tax or be involv

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Due dates for uploading form 15G and 15H is now extended

Due dates for uploading form 15G and 15H is now extended for the period of 3rd and 4th quarter of Financial Year 2015-16 and 1st and 2nd quarter of Financial Year 2016-17. The CBDT in its earlier notification dated 9th June 2016 had specified the due date for filing quarterly Form 15G and Form 15H as 30th June for the declarations received in th

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