CBDT extends UDIN updation till 30-06-2022
CBDT has further extended the timeline to update the UDIN on the Income tax portal by the Chartered Accountants from 31-05-2022 to 30-06-2022....
Category : Income Tax
Circular regarding use of functionality under Section 206AB and 206CCA of Income tax act 1961
The Central Board of Direct Taxes (CBDT) has issued the Circular No. 10 of 2022 dated 17th May 2022 in which the changes incorporated in...
CBDT issues guidelines for selection of returns for complete scrutiny of returns for FY 2022-23
CBDT has issued the guidelines for compulsory selection of returns for complete scrutiny during the Financial Year 2022-23. In the guidelines, the following perimeters have...
Instruction by CBDT regarding the implementation of judgement of Supreme Court of India
An instruction dated 11-05-2022 has been issued by the CBDT to implement the Supreme Court of India decision in the case of Union of India...
Notification of Form ITR U for filing Updated Return of Income
The Central Board of Direct Taxes (CBDT) has notified the Rule 12AC regarding the furnishing of Updated return of Income. The Form ITR U has...
CBDT extends timeline to update UDIN till 31st May 2022
CBDT has extended the timeline to update the UDIN till 31st May 2022 from 30th April 2022. Last date to update UDIN on the Income...
Additional conditions for filing of Income tax returns
Thee Central Board of Direct Taxes (CBDT) has issued the Notification No. 37/2022 dated 21st April 2022 in which certain additional conditions have been specified...
Income Tax Department conducts searches in Delhi-NCR on Automobile Manufacturing Group, Company Operating Chartered Flights and Real Estate Groups
The Income Tax Department conducted a search and seizure operation on a leading automobile manufacturer group along with a company operating chartered flights and a...
Signing of 62 Advance Pricing Agreements by CBDT in FY 2021-22
The Central Board of Direct Taxes (CBDT) has entered into 62 Advance Pricing Agreements (APA) in FY 2021-22 with Indian taxpayers. This includes 13 Bilateral...
Non applicability of TCS on foreign remittance by Non residents
The Central Board of Direct Taxes (CBDT) have issued the Notification No. 20/2022 in which it has been stated that the provisions of section 206C(1G)...
Extension of time limit for electronic filing of Form No. 10AB for seeking registration or approval under section 10(23C), 12A or 80G of Income Tax Act
The Central Board of Direct Taxes (CBDT) has extended the due date of filing the electronic form no. 10AB for seeking registration or approval under...
CBDT notifies ITR Forms for AY 2022-23 [ITR 1 to ITR 7]
The Central Board of Direct Taxes (CBDT) has notified the ITR Forms for AY 2022-23. It is pertinent to note that forms for ITR 1...
Payment of late fee for PAN AADHAR linking if done after due date
The Central Board of Direct Taxes (CBDT) has issued the Notification No. 17/2022 on 29th March 2022 in which it has been notified that those...
The President of India assented the Finance Act 2022
The President of India has assented the Finance Act 2022 on 30-03-2022. To view and download the Finance Act 2022, click here...
Circular 4 of 2022 – TDS on Salary
Central Board of Direct Taxes (CBDT) has issued the Circular no. 04/2022 dated 15-03-2022 in which the procedure for deducting the TDS on the salaries...
Section 194R – TDS on benefits or perquisite of business or profession
In the Finance Bill 2022, a new TDS section 194R has been proposed with respect to TDS on benefit or perquisite of a business or...
Taxability of Virtual Digital Assets in Finance Bill 2022
In the Finance Bill 2022, the much-needed question has been answered regarding the Crypto currency and other virtual assets shall be allowed to be traded...
Finance Bill 2022 along with Memorandum explaining Finance Bill 2022
To download the Finance Bill 2022 and memorandum explaining the Finance Bill 2022, click here Finance Bill 2022 Memorandum explaining Finance Bill 2022...
CBDT notifies rule to compute capital gain on sum received under a specified Unit Linked Insurance Policy
The CBDT has notified the Rules for computing the capital gain on sum received under a specified Unit Linked Insurance Plan by inserting Rule 8AD...
CBDT extends due dates for filing of Income Tax Returns and various reports of audit for the Assessment Year 2021-22 under the Income-tax Act, 1961
On consideration of difficulties reported by the taxpayers and other stakeholders due to COVID and in electronic filing of various reports of audit under the...
Income tax issues guidelines under sub section (4) of section 194O, sub section (3) of section 194Q and sub section (1-I) of section 206C of Income Tax Act
The Income Tax Department has issued the Guidelines under sub section (4) of section 194-O, sub section (3) of section 194-Q and sub section (1-I)...
CBDT amends section 194A with respect to the receiver as specified in section 10(26) of Income tax act
—In exercise of the powers conferred by sub-section (1F) of section 197A of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies...
CBDT has extended PAN AADHAR linking and date of completion of penalty proceedings
In views of the difficulties being faced by the stakeholders on account of COVID 19 pandemic, the CBDT has extended the following deadlines:- a. PAN...
Income Tax Department conducts searches in Ahmedabad
The Income Tax Department carried out a search and seizure operation on 08.09.2021 on a group based in Ahmedabad. The group is among one of...
Income Tax Department conducts searches in Punjab and Haryana
The Income Tax Department conducted search and seizure operations on 08.09.2021 on three prominent Commission agent groups based in Punjab, covering many premises across Punjab...
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