Income Tax News

CBDT issued clarification on Form 3CA-3CD, 3CB-3CD to avoid errors in form filing and verification

28 September 2022 at 13:51

Clarification on Form 3CA-3CD, 3CB-3CD to avoid errors in form filing and verification

Posted in Income Tax | 10266 Views

FM Sitharaman sets a new three-point governing principle for income tax department

28 September 2022 at 10:05

Finance minister Nirmala Sitharaman on Tuesday urged the income tax department to assess tax returns and process tax refunds even faster and redress pending grievances of assessees as she set a new three-point governing principle for the tax department

Posted in Income Tax | 2580 Views

FM's Awards conferred on employees of Income Tax Department

28 September 2022 at 08:33

The awards were presented to the officers and officials who have contributed to promoting excellence in the field of Direct Taxation by their innovative ideas and special efforts as well as commitment to duty.

Posted in Income Tax | 1503 Views

Timeline for filing of modified returns in Form ITR-A u/s 170A extended till 31st March 2023

27 September 2022 at 08:35

CBDT has issued Order vide F. No. 370142/41/2022-TPL dated September 26, 2022 extends the timeline for filing of modified ITR in Form ITR-A by a successor company u/s 170A from September 30, 2022 to March 31, 2023.

Posted in Income Tax | 5856 Views

CBDT notified form ITR-A for filing of modified return by successor entity

21 September 2022 at 08:38

CBDT notifies the Income-tax (31st Amendment) Rules, 2022, to insert new IT Rule 12AD/ Form ITR-A regarding filing of Return of Income by a Successor Entity

Posted in Income Tax | 6390 Views

Gross Direct tax collection grows 30% to Rs 8.36 lakh crore in FY 2022-23

19 September 2022 at 08:28

The Gross collection of Direct Taxes (before adjusting for refunds) for the FY 2022-23 stands at Rs. 8,36,225 crore compared to Rs. 6,42,287 crore

Posted in Income Tax | 1 comments | 2835 Views

CBDT issues revised guidelines for compounding of offences under IT Act 1961

18 September 2022 at 07:36

CBDT has taken steps and issued revised Guidelines for Compounding of offences under the Income-tax Act, 1961(the 'Act') dated 16.09.2022

Posted in Income Tax | 4416 Views

CBDT notifies Form 52A & Rule 121A to be furnished u/s 285B for producers of cinematograph films

16 September 2022 at 08:46

Form of statement to be furnished by producers of cinematograph films or persons engaged in specified activity.

Posted in Income Tax | 3792 Views

Banks exempted from 10% TDS for one-time loan settlements

15 September 2022 at 08:44

TDS won't be applicable on one-time loan settlement with borrowers/waiver of loan granted on reaching settlement with the borrowers by institutions such as public financial institutions, scheduled banks

Posted in Income Tax | 1 comments | 4701 Views

CBDT issued additional guidelines for removal of difficulties u/s 194R

14 September 2022 at 08:35

Additional Guidelines for removal of difficulties under sub-section (2) of section 194R of the Income-tax Act, 1961

Posted in Income Tax | 1 comments | 7362 Views