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.
CA, CS, CMA : Key updates from Income Tax, GST, DGFT, RBI, and more for the week ending 29th Dec 2024....
CA, CS, CMA : Review of significant legal, tax, GST, and SEBI updates during the week ending 22nd December 2024, including new guidelines and ju...
CA, CS, CMA : Explore tax & GST updates for Nov 25–Dec 1, 2024, including safe harbour for diamonds, GST e-invoicing, HC rulings, Section 194N...
CA, CS, CMA : Summary of key notifications in Income Tax, GST, SEBI, and IBBI regulations during the week of Nov 18-24, 2024, covering filing pr...
Income Tax : The Vivad Se Vishwas Scheme 2024 simplifies tax dispute resolution, offering discounts and waivers to reduce litigation burden. Se...
Income Tax : The Institute of Cost Accountants of India seeks inclusion of Cost Accountants in the definition of "Accountant" under Section 515...
Income Tax : Government addresses Supreme Court judgment on tax exemptions for clergy and its implications on Hindu Undivided Families (HUFs) u...
Income Tax : Analysis of tax exemptions for individuals vs corporations, middle-class benefits, and the impact of measures under the new tax re...
Income Tax : Details on tax incentives for corporates, revenue loss since 2020, monitoring mechanisms, emerging sector benefits, and job creati...
Income Tax : Out of 3.94 crore valid ITRs for AY 2024-25, refunds were processed for 3.68 crore. Reasons for delays include invalid bank detail...
Income Tax : Supreme Court reviews the Kakadia Builders case, addressing Settlement Commission's authority to waive interest under Sections 234...
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 : Details of the Lok Sabha Select Committee's sittings on March 6-7, 2025, to examine the Income-Tax Bill, 2025, with oral evidence ...
Income Tax : CBDT updates income tax rules and forms for business and securitization trusts. Notification 17/2025 amends Rules 12CA & 12CC, imp...
Income Tax : Key updates on income tax deduction from salaries under Section 192 for FY 2024-25, including amendments, surcharge rates, and new...
Income Tax : CBDT extends the due date for filing Form 56F under Section 10AA(8) and 10A(5) of the Income-tax Act, 1961, to March 31, 2025, for...
Income Tax : The Central Government notifies Punjab RERA for tax exemption under Section 10(46A) of the Income-tax Act, effective from the 2024...
In this connection the region wise jurisdiction of companies, against whom insolvency proceedings have been initiated under The Insolvency Bankruptcy Code 2016 (IBC 2016 in short) as available under the icon Public Announcement in the website of Insolvency and Bankruptcy Board Of India (IBBI in short), has been identified from the PAN Directory and is enclosed herewith.
It has now been decided by the Board that an all-India target of adding 1.25 crore new income-tax return filers may be set for FY 2016-17 to concentrate efforts of the Department to this critical key result area.
Petitions have been received in CBDT from the declarants under the Pradhan Mantri Garib Kalyan Yojana, 2016, Scheme (`PMGKY’) pointing out instances where incorrect challans were used for making payment of liability under the Scheme or some of the particulars in the challans were filled wrongly.
Kindly refer to letter F. No. DGIT(S)/ADG(S)-2/CASS 2017- 18/143/2016 dated 03.07 2017 and F. No. DGIT(S)/ADG(S)-2/CASS 2017-18/143/2016 dated 18.09.2017 requiring Assessing officers to generate scrutiny notices u/s 143(2) (or PANs selected in cycle 1 and cycle 2 of CASS- 2017.
S.O. 3129(E).-In exercise of the powers conferred by clause (39) of the section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies the following as the international sporting event, persons and specified income for the purpose of the said clause namely
It is seen that till 25-09-2017, notices have not been issued in 2285 cases. These 2285 cases include 8 cases which are lying with inactive codes.
The Directorate looks after the cases of sick companies which require rehabilitation/ resolution of sickness. Previously the sick companies used to move Board for Industrial and Financial Reconstruction (BIER) under the Sick Industrial Companies (Special Provisions) Act, 1985 (SICA).
Online Form i.e. Form No. 67 needs to be filed in the case where assessee claiming the benefit of foreign tax credit. Submission of Form 67 shall precede the filing of return of Income. Text of Notification in this regard is as follows :-
This is in reference to the subject mentioned above 2nd cycle of program for Computer Assisted Scrutiny Selection (CASS) for the current year has been finalized. The Board has approved the parameters for selection of cases and cases are visible to the Assessing Officers from today i.e. 18.09.2017.
The appeal module of ITBA was rolled out in the month of June 2015 enabling the CsIT(Appeals) to function in a computerized environment. To dispose appeals in ITBA, it was imperative to upload appeals on ITBA Module and for the same an excel utility was made available to CIT(A) to upload the pending appeals in the appeals module.
