Income Tax Dept warns public against cash dealings of Rs 2 lakh or more saying that the receiver of the amount will have to cough up an equal amount as penalty.

CBDT releases new ITR Forms for AY 2018-19; ITR 4 asks for turnover reported in GST returns

The Central Board of Direct Taxes (CBDT) has released the new Income-tax return (ITR) Forms for Assessment Year 2018-19. The new ITR forms incorporates the changes made by the Finance Act, 2017 in the Income-tax Act. The new forms asks taxpayers to provide figures of Ind AS complaint financial statements, GSTR no., GST turnover, etc.

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