#income-tax Archives

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

TaxcharchaJune 30, 2022

by TaxcharchaJune 30, 20220471

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...

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CBDT further extends UDIN updation till 30-9-2022

TaxcharchaJune 30, 2022

by TaxcharchaJune 30, 20220332

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...

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

TaxcharchaJune 25, 2022

by TaxcharchaJune 25, 20220375

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

TaxcharchaJune 23, 2022

by TaxcharchaJune 23, 20220252

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

TaxcharchaJune 20, 2022

by TaxcharchaJune 20, 20220359

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

TaxcharchaJune 19, 2022June 19, 2022

by TaxcharchaJune 19, 2022June 19, 20220221

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

TaxcharchaJune 19, 2022

by TaxcharchaJune 19, 20220311

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

TaxcharchaJune 19, 2022

by TaxcharchaJune 19, 20220390

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

TaxcharchaJune 17, 2022June 17, 2022

by TaxcharchaJune 17, 2022June 17, 20220502

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

TaxcharchaMay 31, 2022

by TaxcharchaMay 31, 20220675

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

TaxcharchaMay 16, 2022

by TaxcharchaMay 16, 20220378

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...

Income Tax Latest

Income Tax Department conducts searches in Delhi-NCR on Automobile Manufacturing Group, Company Operating Chartered Flights and Real Estate Groups

TaxcharchaApril 3, 2022

by TaxcharchaApril 3, 20220483

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...

Income Tax Latest

Signing of 62 Advance Pricing Agreements by CBDT in FY 2021-22

TaxcharchaApril 3, 2022April 3, 2022

by TaxcharchaApril 3, 2022April 3, 20220476

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...

Income Tax Latest

CBDT notifies ITR Forms for AY 2022-23 [ITR 1 to ITR 7]

TaxcharchaApril 2, 2022

by TaxcharchaApril 2, 20220569

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...

Income Tax Latest

Payment of late fee for PAN AADHAR linking if done after due date

TaxcharchaApril 2, 2022

by TaxcharchaApril 2, 20220490

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...

Income Tax Latest

CBDT issues clarification regarding carry forward of losses in case of change in shareholding due to strategic disinvestment

TaxcharchaSeptember 10, 2021

by TaxcharchaSeptember 10, 20210170

Central Board of Direct Taxes (CBDT) has issued the clarification regarding carry forward of losses in case of changes in shareholding due to strategic disinvestment....

Income Tax Latest

CBDT relaxes filing of Form 15CA / CB

TaxcharchaJune 14, 2021

by TaxcharchaJune 14, 20210188

As per the Income-tax Act, 1961, there is a requirement to furnish Form 15CA/15CB electronically. Presently, taxpayers upload the Form 15CA, along with the Chartered...

Income Tax Latest

Guidelines for compulsory selection of Returns for complete scrutiny for FY 2021-22

TaxcharchaJune 10, 2021

by TaxcharchaJune 10, 20210324

The CBDT has issued the Guidelines for compulsory selection of returns for complete scrutiny for FY 2021-22. The cases which are to be selected for...

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Anyalysis of Recommendations of 43rd GST Council Meeting

TaxcharchaMay 30, 2021

by TaxcharchaMay 30, 20210225

Amnesty scheme to provide relief to taxpayers regarding late fee for pending returns For furnishing the Form GSTR 3b for the period July 2017 to...

Income Tax Latest

CBDT notifies changes in Tax Audit Report for AY 2021-22

TaxcharchaApril 11, 2021

by TaxcharchaApril 11, 20210578

The Central Board of Direct Taxes (CBDT) has notified the following changes in the Form 3CD and inserted a sub rule which are as follows:-...

Income Tax Latest

The President of India assented the Finance Act 2021

TaxcharchaMarch 28, 2021

by TaxcharchaMarch 28, 20210327

The President of India has assented the Finance Act 2021 on 28th March 2021. To view and download the Finance Act 2021, click here Finance...

Income Tax Latest

Notification of Amended Form 12BA – Statement showing particulars of perquisites

TaxcharchaMarch 14, 2021

by TaxcharchaMarch 14, 20210334

CBDT has amended the Form 12BA vide Notification No. 15 of 2021. The new form shall be effective with effect from 01-04-2021. To view and...

Income Tax Latest Recent Case Laws

Mentioning of wrong section and wrong facts in the reasons recorded for reopening of the assessment u/s 148 made the reassessment liable to be quashed – ITAT Delhi

TaxcharchaDecember 18, 2020

by TaxcharchaDecember 18, 20200942

Maheshwari Roller Flour Mills Pvt. Ltd. vs. ITO ITA No. 4257/Del/2019 Pronounced on 17.12.2020 In the recent judgment by the Hon’ble ITAT Delhi, it was...

Income Tax Latest Recent Case Laws

CIT(A) cannot enhance the assessment on the matter which is not arising out of the assessment proceedings – ITAT Delhi

TaxcharchaDecember 17, 2020

by TaxcharchaDecember 17, 20200409

Saravjit Bhatia vs. ITO ITA No. 7155/Del/2019, Pronounced on 16th December, 2020 In the recent case, the Hon’ble Delhi ITAT has held that “CIT(A) cannot...

Income Tax Recent Case Laws

Where the Petitioner fails to acknowledge the complete details during the search procedure of “Primary Persons”, the same can be the basis for “reason to suspect” for issuance of new WOA for carrying on the Search on Petitioner – Delhi High Court

TaxcharchaDecember 11, 2020

by TaxcharchaDecember 11, 20200240

Shilpa Chowdhary vs. Principal Director of Income Tax (Investigation) W.P.(C) 5207/2020 & CM Appl 18787/2020 dated 07.12.2020 In short In a recent judgment by the...

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

CBDT further extends UDIN updation till 30-9-2022

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

Income Tax Department conducts searches in Rajasthan and Mumbai

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

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

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

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

Cost Inflation Index for FY 2022-23

CBDT extends UDIN updation till 30-06-2022

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

Income Tax Department conducts searches in Delhi-NCR on Automobile Manufacturing Group, Company Operating Chartered Flights and Real Estate Groups

Signing of 62 Advance Pricing Agreements by CBDT in FY 2021-22

CBDT notifies ITR Forms for AY 2022-23 [ITR 1 to ITR 7]

Payment of late fee for PAN AADHAR linking if done after due date

CBDT issues clarification regarding carry forward of losses in case of change in shareholding due to strategic disinvestment

CBDT relaxes filing of Form 15CA / CB

Guidelines for compulsory selection of Returns for complete scrutiny for FY 2021-22

Anyalysis of Recommendations of 43rd GST Council Meeting

CBDT notifies changes in Tax Audit Report for AY 2021-22

The President of India assented the Finance Act 2021

Notification of Amended Form 12BA – Statement showing particulars of perquisites

Mentioning of wrong section and wrong facts in the reasons recorded for reopening of the assessment u/s 148 made the reassessment liable to be quashed – ITAT Delhi

CIT(A) cannot enhance the assessment on the matter which is not arising out of the assessment proceedings – ITAT Delhi

Where the Petitioner fails to acknowledge the complete details during the search procedure of “Primary Persons”, the same can be the basis for “reason to suspect” for issuance of new WOA for carrying on the Search on Petitioner – Delhi High Court

Notification No. 20/2022-Central Tax – Seeks to rescind Notification No. 20/2018-CT dated 28th March, 2018.

Notification No. 19/2022 – Central Tax – Seeks to make amendments (Second Amendment, 2022) to the CGST Rules, 2017.

Notification No. 18/2022-Central Tax – Seeks to notify 01.10.2022 as the date on which provisions of sections 100 to 114,...

Implementation of E-Invoicing for Turnover more than Rs. 10 Crores

Extension of due date of filing for DIR 3 KYC

GST Audit manual released by CBIC

Order No. 02/2018-Central Tax – Regarding availment of...

Circular No. 64/38/2018-GST – Modification of the procedure...

Where no return was filed in compliance to...

Circular No. 130/49/2019-GST – Reverse Charge Mechanism (RCM)...