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I-T dept working on pre-filled income tax return forms: CBDT chief

Wednesday, December 5, 2018, 7:34 PM

Income tax payers will soon get pre-filled ITR forms that will make the process of filing returns easier, Central Board of Direct Taxes (CBDT) Chairman Sushil Chandra has said. The tax department is working on the pre-filled income tax return (ITR) forms which would be based on tax deducted at source (TDS) details filed with the department by the employer or any other entity.
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Filing Of Income Tax Returns Rises 50% So Far This Year

Tuesday, December 4, 2018, 4:21 PM

Filing of income tax return for assessment year 2018-19 has so far risen 50 percent since last year, a top finance ministry official said on Tuesday. "This is the effect of demonetisation," Central Board of Direct Taxes (CBDT) Chairman Sushil Chandra said on the sidelines of a Confederation of Indian Industry (CII) event.
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New direct tax code won't change income tax slabs, rates

Monday, December 3, 2018, 8:35 AM

PM Modi's parting shot in policymaking before 2019 Lok Sabha elections the draft direct tax code is likely to be a strong-message about stability and certainty in taxation rather than any structural shift. The tax code, therefore, will not propose tax rate changes or tax slab revisions. Instead, it will focus on making the Income Tax Act, 1961, simpler and less prone to litigation.

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