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 directs that the officers posted in Directorates of Investigation (Investigation Wing) and Commissionerates of TDS, only and exclusively shall act as Income-tax Authority for the purposes of power of survey under section 133A of the Income-tax Act.
Central Board of Direct Taxes hereby reconstitutes Regional e-Assessment Centers (ReACs) under Faceless Assessment Scheme, 2019 vide Office Order -2 dated 13th AUgust 2020. F. No 187/3/2020 ITA-1 Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes (ITA Division) ******* North Block, New Delhi – 110001 Dated the 13th August, […]
Stay updated with the latest tax updates from CBDT. Learn about the one-time relaxation for verification of tax returns and clarification on TDS payments in cash.
Based on the credible information that few Chinese individuals and their Indian associates were involved in money laundering and hawala transactions through series of shell entities, a search action was mounted at various premises of these Chinese entities, their close confederates and couple of bank employees.
In view the hardships being faced by the taxpayers in coping with the challenges posed by COVID 19 pandemic, it is important that the concerned officers of the Income Tax Department recognize the same and are sensitive to it. Therefore, as far as possible, the communications should be made electronically and social distancing norms should be followed, without diluting the significance of the proceedings.
CBDT notifies 3 Courts in Maharashtra for trial of Income Tax offences which includes (i) the 38th Court, Ballard Pier for Mumbai region and 31st Court of Additional Chief Metropolitan Magistrate, Vikhroli for Mumbai including cases at Thane; (ii) the Court of the Chief Judicial Magistrate, Nagpur for entire Vidarbha region, and (iii) the Court of 10th Joint Civil Judge Junior Division and Judicial Magistrate First Class (Court No. 8), Pune for Pune region.
Class or classes of person to whom provisions of section 139A shall not apply. 114AAB. (1) The provisions of section 139A shall not apply to a non-resident, not being a company, or a foreign company, (hereinafter referred to as the non-resident) who has, during a previous year, made investment in a specified fund if the following conditions are fulfilled, namely:
CBDT Circulars CBDT Circulars to Reduce Litigation S.No. Section of Income Tax Act Circular No. & Date Summary of Circular 1 2(22)(e) Circular No.19/2017 [F.No.279/ Misc./140/2015/ITJ], Dated 12-6-2017 Trade advances, which are in the nature of commercial transactions, would not fall within the ambit of the word ‘advance’ in Section 2(22)(e) of the Act 2 […]
India has a large network of Double Taxation Avoidance Agreements (‘DTAAs’ or ‘Tax Treaties’, hereinafter) with various countries. The DTAAs, inter-alia, provide rules and mechanisms for allocation of taxing rights amongst the treaty partners; avoidance of economic and juridical double taxation; and resolution of taxation not in accordance with the treaty through the Mutual Agreement Procedure (‘MAP’, hereinafter).
Office Order No. 144 of 2020 The transfer/postings of the following officers in the grade of Chief Commissioner of Income Tax/Director General of Income Tax. are hereby ordered with immediate effect and until further orders:
