Income Tax News
Form 10-IC now enabled for AY 2020-21 as per condonation under circular 6 of 2022
The two conditions required while filing Form 10-IC for AY 2020-21 are as under: The return for AY 2020-21 for...
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Now file ITR 1 and 4 on e-filing website for FY 2021-22 i.e. AY 2022-23 | File ITR with experts on Taxontips
Now, CBDT has provided fillable Forms for ITR 1 and 4, and one can file the same on Income tax...
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E-dispute Resolution scheme, 2022 announced by Income Tax department for small taxpayers
This, scheme is a bit different from Vivad se vishwas scheme and other dispute resolution scheme which have been announced...
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TDS credit can be claimed in a year even when corresponding income was offered for tax in earlier year | Delhi ITAT | Case law
Thus, in the present case where the assessee has claimed to have offered the revenues for tax in previous years...
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Facility for CA to update and validate UDIN of tax audit report and other audit report forms enabled on e-filing website filed after April 2021
Please note that this functionality may not be used for updating UDIN for Forms submitted prior to April 2021. In...
Read moreCanada, USA and UK listed as notified country under section 89A for taxation of income from retirement benefit account
Section 89A deals with providing relief from taxation on income from retirement benefit account maintained in a notified country wherein,...
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Major Changes in ITR Form, announced for AY 2022-23
It is important to note that as of now only JSON schema of ITR have been released for ITR 1...
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Intimation issued u/s 143(1) of the Act for AY 2020-21 does not allow depreciation on adjustment of WDV due to additional depreciation to companies opting for section 115BAA
To resolve the issue Income Tax department should take an initiative, issue a circular, reprocess all the returns and provide...
Read more39 more amendments in Finance Bill which was implemented in Finance Act, 2022 received assent of President
1) Loss from one Virtual Digital Asset (VDA) cannot be set-off against income from another VDA. 2) Definition of ‘transfer’...
Read moreSigning of 62 Advance Pricing Agreements by CBDT in FY 2021-22
This includes 13 Bilateral APAs (consequent to Mutual Agreement between India and its treaty partners) and 49 Unilateral APAs.
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Remuneration from Partnership firm cannot be considered as gross receipt/ turnover for section 44AB | Bombay High court | Case law
The court concluded that the Revenue was right in its contention that remuneration and interest from the partnership firm cannot...
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Central Government relaxes provisions of TCS under section 206C(1G) of the Income-tax Act, 1961 in respect of non-resident individuals visiting India
In order to remove such difficulties, the Central Government, in exercise of powers conferred under section 206C(1G) of the Act,...
Read moreCBDT extends last date for filing of Form No.10AB till 30.09.2022
The application for registration or approval under Section 10(23C), 12A or 80G of the Act in Form No.10AB, for which...
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Penalty for linking Aadhar PAN reduced for first three months i.e. April 2022 to June 2022
However, Income Tax department has vide notification no. 17/2022 Dt. 29.03.2022 reduced the late fees amount to Rs. 500 if...
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Income tax department sends message that some high value transaction does not appear in Income Tax return. What to do?
Income Tax Department has identified certain high value information which does not appear to be in line with the Income...
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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
- Taxation and Income tax return of Foreign Companies Earning Income from India under special rates
- Income Tax Department’s NUDGE Initiative 2025-26: A Clear Warning for Taxpayers to Ensure Accurate Reporting
- Notice from Income tax department e-verification cell for non-filing ITR. How to respond
- Default under TDS for 20% TDS or short deduction? Here is a relief from non-linking of Aadhar-PAN
- Received Notice Under Section 143(2) of Income Tax Act? Here’s Why You Got It and How to Tackle It Effectively?
- Statutory Compliance Calendar for June 2025 | Income tax, GST and various other laws
- Statutory Compliance Calendar for May 2025 | Income tax, GST and various other laws
- ITAT Mumbai: Capital Gains on Indian Mutual Funds Not Taxable in India for Non-Residents under DTAA [Case law]
- Statutory Compliance Calendar for April 2025 | Income tax, GST and various other laws
- No relief under section 87A for capital gain even after date extended to file revised return for AY 2024-25?
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