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 : Highlights from August 5-11, 2024: Income Tax exemptions, GST updates, SEBI guidelines, and RBI monetary policy changes....
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 : Explore the Lok Sabha query on technical glitches in the IT portal and TRACES. Learn about processing delays, PAN-Aadhaar issues, ...
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 : 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 : Insight Instruction No. 79 details procedures for managing high-risk PAN cases in the Insight portal, guiding tax officers through...
Income Tax : UIDAI's specified income receives tax exemption for AY 2024-2025 to 2028-2029 under Income-tax Act, 1961, as per the latest CBDT n...
Income Tax : West Bengal Transport Workers' Social Security Scheme receives tax exemption for specified income under Income-tax Act for AY 2021...
Income Tax : CBDT notifies Karnataka State Natural Disaster Monitoring Centre for tax exemptions on specific incomes. Effective for AY 2021-22 ...
Income Tax : Ministry of Finance notifies Kalyan Karnataka Region Development Board’s tax exemption for grants and interest, effective for FY...
CBDT issues Notification No. 03/2021-Income Tax and notifies directions to give effect to the Faceless Penalty Scheme, 2021 MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) Notification No. 03/2021-Income Tax New Delhi, the 12th January, 2021 INCOME-TAX S.O. 118(E).—In exercise of the powers conferred by sub-section (2B) of section 274 of the […]
CBDT issues Notification No. 03/2021-Income Tax and notifies Faceless Penalty Scheme, 2021. Also Read- Faceless Penalty Scheme, 2021 – CBDT notifies directions MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) New Delhi, the 12th January, 2021 Notification No. 02/2021-(Income-Tax) S.O. 117(E).—In exercise of the powers conferred by sub-section (2A) of section 274 […]
CBDT has vide its order dated 11.01.2021 decided that it will not further extend due date of Tax Audit and ITR Filing. In its order it has given a Table in which it listed out extension given by Other countries but data provided in respect of Singapore and Brazil were having some discrepancies which are […]
After considering the Instruction of Gujarat High Court in the case of All India Gujarat Federation of Tax Consultants Vs. Union of India CBDT has rejected the request for further extension of due dates for filing of Audit Report under section 44AB of the Income tax Act . CBDT said that The clue dates for […]
We recently found below CBDT instruction on Social media on ‘Penalty u/s 271AAD for false entry etc. in the books of accounts’ but we are not able to verify this from official sources so readers are requested to please check from their own sources before relying on the below post. F. No. 414/02/2021 — IT […]
DIRECT TAXES UPDATES Recent circulars/notifications/rules/clarifications/News – Government issues a circular clarifying the requirements for opening of Senior Citizen Savings Scheme Account (Circular no. File No. FS-10/17/2020-FS dated 07.12.2020) – CBDT releases answers to FAQs on Vivad-se-Vishwas scheme (Circular No. 21/2020-Income Tax dated 04.12.2020) – Govt further extends the dates for various compliances such Tax Audit, […]
Central Government, in consultation with the Chief Justice of the High Court of Tripura, hereby designates the Court of Chief Judicial Magistrate, West Tripura Judicial District, Agartala as the Special Court for the State of Tripura for the purposes of the said sub-section.
Vivad Se Vishwas Scheme extended till 31/01/2021 MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) Notification No. 92/2020-Income Tax New Delhi, the 31st December, 2020 S.O. 4804(E).—In exercise of the powers conferred by section 3 of the Direct Tax Vivad se Vishwas Act, 2020 (3 of 2020), the Central Government hereby makes […]
Income Tax Department started a Search and Survey action on 22.12.2020 in the cases of three leading contractors of North Eastern India. One of the groups is also into Hospitality business. The Search and Survey actions are being carried out at 14 locations in Guwahati, Delhi, Silapathar and Pathsala (Assam).
Notification No. 91/2020 Central Government notifies ‘Yamuna Expressway Industrial Development Authority’ an authority constituted by the State Government of Uttar Pradesh, as a ‘class of Authority’, in respect of the specified income under section 10(46) of Income Tax Act, 1961. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) Notification No. 91/2020-Income Tax New […]
