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Income Tax : The Finance Act (No. 2), 2024, has brought a significant change by imposing a time limit on TDS correction statements. Until now, ...
Income Tax : Budget 2025 highlights income tax changes, revised tax slabs, TDS amendments, IFSC incentives, updated return filing limits, and d...
Income Tax : The Income Tax Bill 2025, set to replace the 1961 Act, redefines the role of Chartered Accountants in tax compliance and represent...
Income Tax : Explore the key takeaways of the New Income Tax Bill 2025, including structural changes, simplified provisions, and updates in tax...
Income Tax : New Income Tax Bill 2025, replacing the 1961 act, focuses on simplification and clarity. Learn about the key changes and retained...
Income Tax : Join our webinar on Faceless Tax Assessments under the Income Tax Act, 1961. Learn concepts, challenges, and solutions from expert...
Income Tax : Income-Tax Bill 2025 simplifies tax laws by reducing sections, chapters, and words while ensuring no policy or tax rate changes. K...
Income Tax : Explore the section mapping of the New Income-Tax Bill 2025, comparing provisions with the Income-Tax Act, 1961. See key changes, ...
Income Tax : Analysis of income tax return filings in India over five years, including trends, zero-tax cases, and government initiatives to en...
Income Tax : Government addresses Supreme Court judgment on tax exemptions for clergy and its implications on Hindu Undivided Families (HUFs) u...
Income Tax : ITAT Mumbai rules that cooperative societies can claim deductions under Section 80P(2)(d) for interest earned from cooperative ban...
Income Tax : ITAT Mumbai remands Rotary Charity Trust’s 80G approval case due to an inadvertent section error in Form 10AB. Matter sent back ...
Income Tax : ITAT Ranchi permits Gajanand Bhalotia to withdraw appeal as he opts for the Vivad se Vishwas Scheme, with an option for restoratio...
Income Tax : ITAT Chennai overturns AO's Rs.53.02 lakh addition to J.K. Jewel Craft’s income, ruling that suspicion alone cannot justify unex...
Income Tax : Delhi High Court clarifies Nokia India’s tax reassessment after a notice was issued in the name of a non-existent company, align...
Income Tax : The Central Government notifies Punjab RERA for tax exemption under Section 10(46A) of the Income-tax Act, effective from the 2024...
Income Tax : The Indian government is set to introduce the new Income Tax Bill, 2025, in the Lok Sabha on February 13, 2025. This comprehensive...
Income Tax : Bhaikaka University, Gujarat, is approved for scientific research under Section 35(1)(ii) of the Income Tax Act, 1961, effective f...
Income Tax : Notification No. 14/2025 updates Form 49C submission rules for liaison offices under the Income-Tax Act. Filing deadline set to 8 ...
Income Tax : CBDT amends Income-Tax Rules, 1962, updating regulations for Infrastructure Debt Funds, including investment criteria, bond issuan...
In order to ensure that taxpayers are able to secure their E-filing account against any fraudulent attempts, the Income Tax Department has introduced a new facility called the E-filing Vault. In order to use this facility, taxpayers can log in to their E-filing Account and under their profile page select E-filing Vault – higher security.
The Central Board Direct Taxes achieved significant success in delivery of taxpayer services in Financial Year 2015-16, a record setting year in delivery of taxpayer services. The Centralized Processing Centre (CPC) at Bengaluru processed more than 4.14 Crore Income Tax returns, an increase of over 35% over the previous year. The CPC also issued over 1.61 Cr refunds above Rs 100 to taxpayers, an increase of more than 47% over the previous year.
CBDT has made following announcement on its e-filing Portal today one after another and made the New Forms 15CA,15 CB, 15CC and newly Notified Form 35 [FOR appeal with CIT(A)] available for e-filing.
Submission of Form 61B: Every reporting financial institution is required to submit the Statement of Reportable Account in Form 61B or submit Nil statement. The prescribed schema for Form 61B and a utility to prepare XML file can be downloaded from thee-filing website home page under forms (other than ITR) tab. The designated director is required to login to the e-filing website with the ITDREIN, PAN (of the designated director) and password The form is required to be submitted using a Digital Signature Certificate of the designated director.
Taxguru Team compiled the Rule 12 of Income Tax Rules based on the RECENT amendment in rules vide Notification No. 24/2016 Dated 30/03/2016 for ready reference of our readers. Changes are Marked in Red. [Return of income and return of fringe benefits. 12. (1) The return of income required to be furnished under sub-section (1) […]
All the Members of CBDT and all the Pr.CCsIT/Pr.DGsIT will personally examine 10 CPGRAMS grievances every week. Similarly, all the CCsIT and Pr.CsIT/CsIT will personally examine 20 and 30 CPGRAMS grievances respectively every week. A monthly report about such monitoring of grievances will be forwarded to the Zonal Members by the Pr.CsIT/Pr.DGsIT by 5th of succeeding month.
In exercise of the powers conferred by clause (46) of section 10 of the Income-tax Act. 1961 (43 of 1961), the Central Government hereby notifies for the purposes of the said clause, the Sikkim State Electricity Regulatory Commission, constituted under the Electricity Act, 2003 (39 of 2003), in respect of the following specified income arising to that Commission, namely:-
(a) consent fees or no objection certificate fees; (b) analysis fees on air quality and water quality or noise level survey fees; (c) authorisation fees; (d) cess reimbursement and cess appeal fees; (e) reimbursement of the expenses received from the Central Pollution Control Board towards National Air Monitoring Program, the Monitoring of Indian National Aquatic resources and like schemes;
Arjuna, as per new ITR-1 from, salaried persons have to give details of all assets & liabilities in case of income exceeding Rs. 50 lacs. These details consist of information regarding Land, Building, Cash, Jewellery & Vehicle and Liabilities in relation to these assets. This is a very important change made in ITR-1. These details are also required to be provided in ITR 2, 2A and 3.
In a Record and following Punjab High Court Direction in the case of Vishal Garg & Ors. Vs. Union of India & Anr. CBDT has first released ITR for A.Y. 2016-17 on 30/03/2016 vide Notification No. 24/2016 and now it further releases Online e-filing utility for the following ITR Forms :- Link to Download all […]
