Income Tax News
What is 133C notice being received by Assessee under Income tax in relation to TDS?
The notice is being served on the deductor for AY 2021-22 or AY 2022-23 in relation to the feedback being...
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Procedure, format and standard for filing an application for lower deduction of TDS by deductee u/s 197 [Read notification]
For making an application in Form 13 with Annexure II the tax-payer/Deductee shall login into the TRACES website (www.tdscpc.gov.in), for...
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Penalty of Rs.10 lakh per year for not disclosing foreign asset under Schedule FA in ITR [Read order]
Hon'ble Mumbai ITAT has passed an order in case of Ms. Shobha Harish Thawani for AY 2016-17, 2017-18 and 2018-19...
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What is short stay exemption available under Indian Income Tax Act?
there are other conditions prescribed under section 10(6)(vi) which needs to be fulfilled to get the above exemptions by foreign...
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What is discard return? How to discard Income tax return? FAQ on discard return
As of now there is no clarity as to why discard return option is better than filing a revised return,...
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Inoperative PAN resulting in TDS notice to deduct TDS at the rate of 20%. Here’s why?
As per the above points it was mentioned that TDS/ TCS needs to be deducted/ collected at higher rates. This...
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Comparison between Section 115BAC before and after AY 2024-25
Section 115BAC deals with lower/ concessional tax rates for individual, HUF etc. rather than the tax rates prescribed for individual...
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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
The delay in filing of Form No. 10-IC as per Rule 21AE of the Rules for previous year relevant to...
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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...
Read moreITR 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...
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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
- GIFT City Investments and Schedule FA Disclosure
- 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
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