Central Board of Direct Taxes

To simplify the process of filing income tax returns (ITR), the Central Board of Direct Taxes (CBDT) on Tuesday issued a draft proposal to introduce a common ITR form for all taxpayers.

The Central Board of Direct Taxes (CBDT) has condoned the delay in filing of Form 10A, up to November 25, in respect of certain provisions of Sections 12A/10(23C)/80G/35 of the Income Tax Act, 1961.

New Delhi According to the CBDT(Central Board of Direct Taxes), over 81,000 Indians earned in excess of Rs 1 crore a year in 2016-17, a report released by the tax department. However, this increase is in large from around…