The Income Tax Department has announced the release of JSON Schema for Income Tax Return (ITR) forms 1 and 4 for the Assessment Year 2024-25, corresponding to the Financial Year 2023-24.
CBDT has notified "The Press Trust of India Limited, New Delhi" for the purpose of Section 10(22B) of the Income Tax Act, providing the organization with tax exemption benefits for the assessment years 2022-2023 to 2023-2024.
CBDT has released an order dated March 13, 2024, in accordance with section 119 of the Income-tax Act, 1961, aimed at providing assistance to successor companies
A woman was recently sentenced to six months in jail by a Delhi Court for failing to file an income tax return on an income of Rs two crores.
Based on feedback from taxpayers on the e-campaign for Advance Tax, the Department has identified certain inconsistencies in the data of the securities market (SFT-17) provided by one of the Reporting Entities.
As a part of taxpayer service initiative, the Department is undertaking an e-campaign, which aims to intimate such persons/entities of significant financial transactions,through email and SMS
Effective from April 1, 2024, the exemption is poised to incentivize businesses to operate within the IFSC framework, fostering an environment conducive to growth and innovation in the financial services sector.
In a move to provide relief to taxpayers, the Central Board of Direct Taxes (CBDT) has issued Circular No. 04/2024 dated March 07, 2024, announcing the ex-post facto extension of the due date for filing Form No. 26QE.
The Income Tax Department unveiled a crucial update on March 7, 2024, pertaining to the submission of Updated Income Tax Returns (ITR) under section 139(8A) of the Income Tax Act 1961.
CBDT clarifies provisions under Finance Act 2023 relating to donations made by a trust/institution to another trust/institution for purposes of the application of income
CAclubindia
