#income-tax Archives

The Central Board of Direct Taxes (CBDT) has issued the notification regarding the time limit for verification of Income tax returns after uploading. It is...

Income Tax Latest

Press release – Clarification regarding applicability of new tax regime and old tax regime

Team Taxcharcha01/04/202401/04/2024

by Team Taxcharcha01/04/202401/04/20240146

It has come to notice that misleading information related to new tax regime is being spread on some social media platforms. It is therefore clarified...

Income Tax Latest

Changes in ITR form V and Acknowlegement for A.Y 2024-25

Team Taxcharcha28/03/202428/03/2024

by Team Taxcharcha28/03/202428/03/20240170

The Ministry of Finance has released the changed ITR V and ITR acknowledgement for the AY 2024-25. To view and download the Notification, click here...

Income Tax Latest

Income Tax Update – Regarding date of approval of Section 80G

Team Taxcharcha01/06/2023

by Team Taxcharcha01/06/20230572

The Central Board of Direct Taxes (CBDT) have notified the Notification No. 34/2023 dated 30th May 2023 in which it has been specified that the...

Income Tax Latest Uncategorized

Income Tax update – CBDT introduces E-appeal scheme

Team Taxcharcha01/06/202301/06/2023

by Team Taxcharcha01/06/202301/06/20230548

The Central Board of Direct Taxes (CBDT) has notified the E-appeal scheme 2023 in which the Joint Commissioner (Appeals) have been made the designated authority....

Income Tax Latest

Income Tax Update – Filing of SFT extended for few days

Team Taxcharcha01/06/202303/03/2024

by Team Taxcharcha01/06/202303/03/20240561

In the twitter notification by the Income tax department, the department has notified that due to the heavy traffic while filing the SFT, some taxpayers...

Income Tax Latest

Draft rules on Angel tax provisions on consideration received from Non Resident investors by Closely Held Companies

Team Taxcharcha30/05/2023

by Team Taxcharcha30/05/20230292

The Central Board of Direct Taxes (CBDT) has published the Draft rules for valuation of unquoted equity shares. The said rules have been taken as...

Income Tax Latest

Income Tax Update – Clarification regarding provisions relating to charitable and religious trust

Team Taxcharcha30/05/2023

by Team Taxcharcha30/05/20230284

The Central Board of Direct Taxes (CBDT) has issued the clarification regarding provisions relating to charitable and religious trusts vide Circular No. 6 of 2023...

Income Tax Latest

Income Tax Update – Treatment of TDS on online gaming, amendment in section 194N and amendment in Form 16 for AY 2024-25

Team Taxcharcha30/05/202330/05/2023

by Team Taxcharcha30/05/202330/05/20230293

The Central Board of Direct Taxes (CBDT) has notified the Notification No. 28/2023 in which there has been an amendment in Section 194N, prescribing the...

Income Tax Latest

Income tax Update – CBDT enlists 3 categories of persons not covered under the Angel tax provisions

Team Taxcharcha30/05/2023

by Team Taxcharcha30/05/20230253

The CBDT has notified the 3 categories of persons whose investments in the Closely Held Companies shall not be covered within the ambit of Angel...

Income Tax Latest

Income Tax Update – Amendment in Section 56(2)(viib) for receipt of consideration from any person

Team Taxcharcha29/05/202330/05/2023

by Team Taxcharcha29/05/202330/05/20230397

In the Notification No. 30/2023, the CBDT has notified that the consideration received by Companies for share capital exceeding the face value received from any...

Income Tax Latest

Income Tax Update : Limit of Leave Encashment extended for Non Government Employees

Team Taxcharcha29/05/2023

by Team Taxcharcha29/05/20230307

The Central Board of Direct Taxes (CBDT) has extended the limit of Leave Encashment for the Non Government employees from Rs. 3,00,000/- to Rs. 25,00,000/- ...

Income Tax Latest

Clarification for TDS under section 194S for transactions other than those taking place on or through an exchange

Team Taxcharcha30/06/2022

by Team Taxcharcha30/06/202201047

The Central Board of Direct Taxes has notified the circular No. 14/2022 in which the guidelines regarding the nature of transactions pertaining to section 194S...

Uncategorized

CBDT further extends UDIN updation till 30-9-2022

Team Taxcharcha30/06/2022

by Team Taxcharcha30/06/20220784

The Central Board of Direct Taxes (CBDT) has further extended the UDIN updation on the Income tax portal from 30-06-2022 to 30-09-2022. This extension has...

Uncategorized

Format, Procedure and Guidelines for submission of Form No. 1, Form No. 2 and Form No. 2A for Securities Transaction Tax (STT)

Team Taxcharcha25/06/2022

by Team Taxcharcha25/06/20220740

The Central Board of Direct Taxes has published the Notification No. 02/2022 in which Format, Procedure and Guidelines for submission of Form No. 1, Form...

Income Tax Latest

Income Tax Department conducts searches in Rajasthan and Mumbai

Team Taxcharcha23/06/2022

by Team Taxcharcha23/06/20220618

Income Tax Department carried out search and seizure operations on 16.06.2022 on a business group involved in retail and export sale of handicrafts, cash financing,...

Income Tax Latest

Safe harbour rules for AY 2022-23 for the purpose of Income tax act 1961

Team Taxcharcha20/06/2022

by Team Taxcharcha20/06/20220690

The Central Board of Direct Taxes (CBDT) has notified the safe harbour rules for A Y 2022-23 by amending the Rule 10TD(3B) of the Income...

Income Tax Latest

CBDT notifies additional conditions for exemption of income under section 10 clause 4D

Team Taxcharcha19/06/202219/06/2022

by Team Taxcharcha19/06/202219/06/20220578

CBDT has issued the Notification No. 64/2022 on 16th June 2022 in which it has been notified that the income attributable to units held by...

Income Tax Latest

Clarification regarding Form No. 10AC issued till the date of this circular

Team Taxcharcha19/06/2022

by Team Taxcharcha19/06/20220598

Central Board of Direct Taxes (CBDT) has issued the Circular No. 11/2022 in which clarification regarding Form No. 10AC issued till date of the circular...

Income Tax Latest

Guidelines for removal of difficulties under sub section (2) of section 194R of the Income tax act 1961

Team Taxcharcha19/06/2022

by Team Taxcharcha19/06/20220790

From 01-07-2022, a new section for TDS 194R will become effective. So in order to reduce the difficulties of the stakeholders, the CBDT has issued...

Income Tax Latest

Cost Inflation Index for FY 2022-23

Team Taxcharcha17/06/202217/06/2022

by Team Taxcharcha17/06/202217/06/20220955

The Central Board of Direct Taxes (CBDT) has notified the Cost Inflation Index for FY 2022-23 as 331 vide Notification No. 62/2022. The said notification...

Income Tax Latest

CBDT extends UDIN updation till 30-06-2022

Team Taxcharcha31/05/2022

by Team Taxcharcha31/05/202201203

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....

Income Tax Latest

CBDT issues guidelines for selection of returns for complete scrutiny of returns for FY 2022-23

Team Taxcharcha16/05/2022

by Team Taxcharcha16/05/20220763

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...