Stay updated with the latest income tax notifications for changes in tax laws, rates, and compliance requirements. Get insights into income tax updates, exemptions, deductions, and important deadlines through income tax notifications.
Income Tax : CBDT updates Form 3CD for AY 2023-2024, including major amendments for tax audit reporting. Essential insights for professionals a...
Income Tax : Key updates to Form 3CEB for specified domestic transactions, following CBDT Notification No. 27/2024, enhancing reporting require...
Income Tax : Explore resolutions for CBDT Circular No. 20/2023 issues: TDS responsibilities, fees inclusion, treatment of taxes, purchase-retur...
Income Tax : Demystify Income Tax Notices: Learn about various types, meanings, and effective responses. Explore notices under Section 143(1), ...
Income Tax : When a financial transaction reported by a Source/Reporting Entity is not considered/included by the taxpayers in their Return of ...
Income Tax : Explore the Malad Chamber of Tax Consultants' 2024 Pre-Budget Memorandum proposing crucial amendments to the Income Tax Act, 1961,...
Income Tax : Stay updated with the latest notification from the Ministry of Finance, Department of Revenue, Central Board of Direct Taxes regar...
Income Tax : ITD Delhi invites Cost Accountant firms/LLPs for empanelment for inventory valuation services. Apply by the deadline to be part of...
Income Tax : Explore the impact of faceless tax assessment, benefits, and government's steps to address taxpayer grievances. Get insights into ...
Income Tax : Stay ahead of tax compliance! Explore the latest Income Tax Return Forms (ITR Forms) notified by CBDT for A.Y. 2024-25. Get insigh...
Income Tax : We request the authority concerned to take a practical view of the problems which the assessees are facing as on date on account o...
Income Tax : The issue to be considered is whether the profit earned by the assessee from the activity of recruitment and training of personne...
Income Tax : Explore the latest Income Tax notification (Notification No. 53/2024) by the Ministry of Finance. Detailed analysis of specified i...
Income Tax : CBDT directs DGIT (Systems) to share income tax information with Telangana's Agriculture Department as per Section 138(1)(a) of th...
Income Tax : Discover the latest Income Tax Act notification under section 138 for Telangana by the Ministry of Finance. Details on the designa...
Income Tax : Explore the latest guidelines for issuing notice under Section 148 of the Income Tax Act, 1961. Understand key procedures, amendme...
Income Tax : CBDT order allows delayed tax payments under DTVsV Act conditions, easing compliance for taxpayers. Details on Form-3 modification...
CBDT has entered into one Unilateral Advance Pricing Agreement (UAPA) during April, 2018. With signing of this Agreement, CBDT has achieved another milestone of having signed its 200th UAPA.
ORDER 3 of 2018- Sub : Establishment –Gazetted Group ‘B’ – Transfer and posting of Income Tax Officers– AGT-2018- Regarding – The transfer and posting of the following Income Tax Officers are hereby ordered with immediate effect
Clause (via) in section 28 is inserted by Finance Act, 2018, w.e.f. Financial year 2018-19 and it provides taxation of Inventory in the year in which it is converted in capital Assets. CBDT issued Draft of notification to be issued for amending Income-tax Rules, 1962 for prescribing the manner of determination of fair market value of the inventory for the purpose of 28(via) of the Income-tax Act, 1961.
Order No. 60 of 2018 The following Assistant Commissioners of Income Tax promoted on Ad-hoc basis vide Order No. 196/2017 dated 13.11.2017 and Order No. 34/2018 dated 28.02.2018 in the Level 10 in the pay matrix Rs. 56100-177500/-, are, hereby transferred and posted as per the table below, with immediate effect and until further orders:-
Finance Act, 2018 has withdrawn the exemption under clause (38) of section 10 of the Income-tax Act, 1961 (the Act) and has introduced a new section 112A in the Act, to provide that long term capital gains arising from transfer of a long-term capital asset being an equity share in a company or a unit of an equity oriented fund or a unit of a business trust shall be taxed at 10 per cent of such capital gains exceeding one lakh rupees.
In continuation of order No. 137 of 2016 dated 22.07.2016 , the President is pleased to extend the ad-hoc appointments of the following Income Tax Officers to the grade of Assistant Commissioner of Income Tax for the vacancy year 2014-15 from 22.07.2017 to 21 07 2018
The list of auditable cases for the period 1st September 2017 to 31st December 2017 has been made available in ITBA now, which includes cases of International Taxation, Central Circles and Exemption charges also.
CBDT has released Guidelines for Departmental officers for dealing with information under the Benami Transactions Informants Reward Scheme, 2018, which is as follows:-
Under Income Tax Informants Reward Scheme, 2018 A person can get reward up to Rs. Five crore by giving specific information about evasion of Income tax on income and assets in India and abroad. Identity of the informant shall be kept confidential.
Benami Transactions Informants Reward Scheme, 2018 is introduced by CBDT for regulating grant and payment of reward to a person who is an informant under this Scheme. A person can get reward up to Rs. One crore for giving specific information of benami property. Identity of the informant shall be kept confidential.
