Income Tax : The ruling clarifies that unauthenticated digital chats and screenshots cannot form the sole basis of tax additions without proper...
Income Tax : The framework permits taxpayers to settle offences by paying prescribed compounding charges instead of facing prosecution. It clar...
Income Tax : CBDT amended Income-tax Rules to include crypto-assets and digital financial products in CRS reporting. The move expands disclosur...
Income Tax : The Draft Income-tax Rules, 2026 require salaried taxpayers to disclose their relationship with landlords, enabling enhanced scrut...
Income Tax : Refunds for AY 2025–26 are being withheld after system-based risk checks detected discrepancies. Taxpayers are advised to review...
Income Tax : CBDT signed a record number of APAs to provide clarity on transfer pricing and reduce disputes. The framework ensures advance dete...
Income Tax : The Government stated that representations on own merit promotions are examined regularly as per existing rules, with no separate ...
Income Tax : Draft Income-tax Rules and Forms have been released for public feedback before the new law takes effect, with inputs to shape the ...
Income Tax : Following judicial criticism of delayed appeals, officers urged structural reforms to fix institutional gaps rather than penalisin...
Income Tax : The NUDGE campaign targets fraudulent claims under sections 80G and 80GGC, helping taxpayers voluntarily revise returns and avoid ...
Income Tax : Reassessment proceedings was invalid for a notice issued beyond three years without the sanction of the prescribed higher authorit...
Income Tax : The ruling clarifies that unauthenticated digital chats and screenshots cannot form the sole basis of tax additions without proper...
Income Tax : ITAT held that delay in filing Form 9A cannot automatically result in denial of exemption under Section 11. The issue was sent bac...
Income Tax : The Tribunal ruled that assessment orders in e-proceedings must be digitally signed as per CBDT instructions. A manually signed or...
Income Tax : The issue was whether CBDT jewellery instructions could shield bullion found during a search from taxation. The Tribunal held that...
Income Tax : The notification requires payers to generate UINs and file quarterly details of declarations even where no tax is deducted. It enh...
Income Tax : Explains the CBDT notification granting section 10(46) exemption to a district legal services authority and the categories of inco...
Income Tax : The Central Government notified an urban development authority under section 10(46A) of the Income-tax Act. The exemption applies ...
Income Tax : CBDT instructs CIT(A) offices to issue intimation confirming withdrawal of appeals for MAP-resolved grounds, serving as proof for ...
Income Tax : The government has authorised all non-rural branches of 19 banks to operate Capital Gains Account Scheme accounts, enhancing taxpa...
It is learnt from one of the Central Council member of ICAI that While the representations for extension of due date for tax audit reports are going on but no positive response yet been given by the Ministry of Finance or CBDT.
Re-orienting the efforts for widening of tax base by bringing in potential and high net-worth assessees into the tax net stressed. Need to phase out unwarranted tax exemptions/deductions emphasized. Emphasis laid to undertake a focused study to augment the number of new assessees.
Safe Harbour Rules Finalized after Considering Comments of Various Stake Holders ; Rules to be Applicable for 5 Assessment Years Beginning from Assessment Year 2013-14 Section 92CB of the Income-tax Act provides for framing of safe harbour rules. The determination of arms length price u/s 92C or 92CA of the Act is subject to these […]
Net Direct Tax Collections for 2013-14, up to 17th September 2013 Shows A Growth of 12.5% and Stood At Rs. 2,38,325 Crore as against Rs. 2,11,641 Crore in the Same Period Last Year Net direct tax collections for the current F.Y. 2013-14, up to 17th September 2013, stood at Rs. 2,38,325 crore as against Rs. […]
Updated version of ITRs (ITR3, ITR4 and ITR6) are available in the portal. Assessee may download and use the same. Editors Note – We Hope this is the last release and free of all errors and bugs.
CBDT has yesterday posted a message on its e-filing website which is as follows :- Updated version of Form 3CA-3CD and Form 3CB-3CD are available in the portal. Assessee may download and use the same. This version is named as ‘FORMS_2013_PR11’ . This is the eleventh version release of offline utility. Every time the utility […]
Date for Filing of Applications by Electoral Trusts Extended upto 30th November, 2013 The Central Board of Direct Taxes (CBDT) has permitted Electoral Trusts to file their applications upto 30th November, 2013 in respect of Assessment Year 2014-15 for approval under clause (22AAA) of Section 2 of the Income-tax Act, 1961 (read with Para 5(a) […]
As part of a massive exercise to identify high risk non-filers of Income Tax returns and ask them to file returns and pay taxes thereon, the Income Tax Department has sent letters to another batch of 35,000 non-filers this week.
Record Management System at CPC, Bengaluru Receives ISO 15489-1:2000 Certification; Becomes First Organization in India and the World to Receive Such Certification Centralized Processing Center (CPC), Bengaluru, the flagship project of Income Tax Department with M/s.Infosys Limited as the Managed Service Provider, was awarded “ISO 15489-1: 2001” certificate by British Standards Institution (BSI). With this, […]
Payment of Quarterly Advance Tax on or before 15th September, 2013 All Designated Branches of Authorized Banks to Function on 14th and 15th September, 2013 (Saturday Sunday) All designated branches of authorized banks have been asked to function on 14th and 15th September, 2013 (Saturday & Sunday) to accept advance tax payments. If any tax […]
