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News INCOME TAX

  • Sep 28, 2019
  • Operation Clean Money: CBDT extends deadline to December 31

    In view of lakhs of individuals and companies who have made suspicious cash deposits during the demonetisation, but have not yet complied with the Income Tax Department notices, the Central Board of Direct Taxes (CBDT) has once again extended deadline of Operation Clean Money (OCM) to December 31, so that the IT officers get more time to investigate the cases and complete the tax assessment process. The previous deadline was September 30. A senior IT official said that the CBDT is again forced to extend the deadline due to the non-compliance to the notices by taxpayers.