Income Tax News
GST revenue collection for October 2023 is second highest ever, next only to April 2023, at ₹1.72 lakh crore
The gross GST revenue collected in the month of October, 2023 is ₹ 1,72,003 crore out of which ₹ 30,062 crore is CGST, ₹ 38,171...
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ITR V showing invalid due to non-verification for income tax return filed by audited entities [AY 2023-24]
However, when the assessee were trying to download ITR V later it was showing a watermark on the verification form...
Read moreExtension of due date for filing Form 56F for AY 2023-24 till 31.12.2023
hereby extends the due date of filing of report of the accountant as required to be filed under clause (8)...
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Income Tax Department Conducts Search and Seizure Operation In Jammu and Kashmir
Investigations so far made, has shown that the group has been suppressing its taxable income by grossly under-reporting its sales...
Read moreCBDT has issued clarification with regard to Form 10B and Form 10BB [Read circular]
CBDT has vide Circular No. 17/2023 Dt. 09.10.2023 provided clarification in relation to data which needs to be feeded in...
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Now Non-residents can get Form 10F online on e-filing portal without having PAN
Non-resident can register using the option of "Others" while registering and choose the option of "Non-Residents not holding and not...
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Is penalty for delay in filing Tax audit report compulsory? | 1.5 lakh penalty for delay in filing Tax Audit report
The amount prescribed for delay in filing Tax audit report is mentioned under Section 271B of the Income Tax Act...
Read moreCBDT notifies changes to Rule 11UA in respect of ANGEL TAX
Taking into consideration the suggestions received in this regard and detailed interactions held with stakeholders, Rule 11UA for valuation of...
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Extension of validity of FCRA registration till 31.03.2024 [Read public notice]
The validity of registration certificates of such entities whose validity was extended till 30.09.2023 in terms of the Public Notice...
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Extension of time limit for Tax audit of trust and file Form 10B and Form 10BB and ITR 7
Due date for Form 10B and Form 10BB has been extended to 31st October 2023 from 30th September 2023. Further,...
Read moreTurnover limit for Tax audit is Rs. 1 crore or Rs. 10 crore under section 44AB of the Act
If both the conditions are fulfilled then the assessee won't be required to conduct tax audit even if turnover exceeds...
Read moreDigital Signature Certificate (DSC) related issues and solutions on Income tax E-filing portal
Taxpayers are advised to check DSC for its expiry date, registration on e-Filing portal & installation of latest emBridge application...
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Definition of turnover in relation to F&O and intraday as per Revised guidance note of ICAI on Tax audit for 2023
Premium received on sale of options is also to be included in turnover. However, where the premium received is included...
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Claim TDS credit deducted in next assessment year for income offered in earlier year [Read section]
tax on such income has been deducted at source and paid to the credit of the Central Government in accordance...
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Salaried employee receiving notices for claiming deduction under Chapter VI-A
As per the above notice it is not an assessment notice but a preliminary notice to assessee to inform him...
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GSTR 9/ 9C due date to be extended to 31.10.2020 | E-invoicing will be voluntary in the beginning
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How to pay Membership and COP fees of ICAI for 2020-21 |
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Code/ Nature of payment 6CR updated by NSDL in challan 281 for paying TCS on sale of goods
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Are all the due dates of tax audit and Income tax return for FY 2019-20 extended to 31.03.2021 by the bill presented in Lok sabha Dt. 18.09.2020
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SFT transaction mentioned in Form 26AS | What does it mean? | Who reports it? | SFT codes transaction type
- Advisory for the procedures and provisions related to the amnesty for taxpayers who missed the appeal filing deadline
- What is discard return? How to discard Income tax return? FAQ on discard return
- CGST Delhi East busts a syndicate of 48 fake firms availing fraudulent ITC of over ₹199 crores in “Operation Clean Sweep”, 3 arrested
- ITC reversal on account of Rule 37(A) by the recipient
- Inoperative PAN resulting in TDS notice to deduct TDS at the rate of 20%. Here’s why?
- Comparison between Section 115BAC before and after AY 2024-25
- Advisory for the procedures and provisions related to the amnesty for taxpayers for filing appeal under GST
- Statutory Compliance Calendar for November 2023 | Income tax, GST and various other laws
- Advisory for Pilot Project of Biometric-Based Aadhaar Authentication and Document Verification for GST Registration
- Condonation of delay under section 119(2)(b) of the Income-tax Act, 1961 in filing of Form No. 10-IC for Assessment Year 2021-22
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