The Central Board of Direct Taxes (CBDT) extended till 15 August 2021, the date for submission of form 15CA and form 15CB. Taxpayers can now submit their form 15CA, 15CB online or in manual format with authorised dealers till 15th August.
Due to glitches on the new income tax portal, taxpayers are finding it very tough to file the forms online on www.incometax.gov.in
In a statement, CBDT says, “In view of the difficulties reported by taxpayers in electronic filing of I-T forms 15CA or 15CB on the portal www.incometax.gov.in, it had earlier been decided by CBDT that taxpayers could submit forms 15CA or 15CB in manual format to the authorised dealer till 15 July 2021. So, the date was extended to 15 August 2021.”
According to the Income-Tax Act, 1961, it is mandatory to furnish form 15CA or 15CB electronically. Currently taxpayers upload the form 15CA, along with the chartered accountant (CA) certificate in form 15CB, wherever applicable, on the income tax e-filing portal, before submitting the copy to the authorised dealer for any foreign remittance.
The government has advised authorised dealers to accept such forms in offline mode till 15th August, for the purpose of foreign remittances. A facility will be provided on the new e-filing portal to upload these forms later for the purpose of generation of the document identification number (DIN).
GST payable only on profit earned from resale of gold jewellery
19 July 2021
In a major relief for jewellers, the Karnataka Authority for Advance Ruling (AAR) has held that in case of resale of second-hand gold jewellery, jewellers have to pay GST only on the profit earned from such sale.
Infosys Yet To Fully Resolve Issues of New Income Tax Portal; Claims 10 Lakh ITRs Filed So Far by Taxpayers
Moneylife Digital Team
16 July 2021
Infosys, which has been facing scathing criticism from taxpayers over the continuous glitches on the much-touted new income tax (I-T) portal ever since its launch on 7th June, is said to be still working on resolving all the...
Fake GST ITC of Over Rs35,000 crore in Just 8,000 Cases in FY2021; DGGI Books Offenders
14 July 2021
The big crackdown on fake GST input tax credit (ITC) filers launched by tax sleuths over the last couple of years has provided rich dividends with the CGST zones and the Directorate General of GST Intelligence (DGGI) booking about...
Startups, pharma companies face tax liability as CBDT notifies new set of goodwill rules
13 July 2021
In what can increase tax liability on companies that have undergone mergers and acquisitions in recent years, the Central Board of Direct Taxes (CBDT) has notified new set of rules on tax treatment of goodwill where depreciation...