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 further extends the time for Linking PAN with Aadhaar till 30th June, 2018.

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.

Refer:www.taxmann.com

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