Income Tax News
Form 10-IEA announced for opting in and out of Section 115BAC | Applicable from AY 2024-25
As announced in during the presentation of Budget, 2023, the new regime of tax under section 115BAC shall be the...
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ITR 3 is now available for filing for FY 2022-23 i.e. AY 2023-24 | File ITR 3 online with experts on Taxontips
The heading of ITR 3 read as under: “For individuals and HUFs having income from profits and gains of business...
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Detailed analysis of HUF (Hindu Undivided Family) – Tax and other laws
Gifts received by HUF from its members are exempted from Income Tax under Section 56(2)(vii)/ 56(2)(x) of the act.
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Income tax officer asks assessee to provide the details of CA who filed his return | Sample declaration
Further, in the next para they have even asked as to whether the return was prepared by self or by...
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Is it compulsory to file income tax return every year in India?
Also, it is recommended that any person who has incurred any capital loss during the year should file his/ her...
Read moreRevision of exceptions to monetary limits for filing appeals deferred under provisions of Section 158AB
In this respect the insertion of Section 158AB in the Income Tax Act, 1961 has led to queries on monetary...
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ITR 2 is now available on e-filing website for FY 2022-23 i.e. AY 2023-24 | File ITR with experts on Taxontips
First of all ITR 2 is the biggest and exhaustive return as far as Individual and HUF is concerned where...
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Condonation of delay in filing refund claim and claim of carry forward of losses under Section 119(2)(b) of the I.T. Act
The Circular prescribed comprehensive guidelines on the conditions and procedure to be followed for deciding applications for condonation of delay...
Read moreDue date for filing SFT extended from 31.05.2023 for FY 2022-23?
Section 271FA of the Income Tax Act prescribes penalty for failure to provide/ furnish SFT statements which is Rs. 500...
Read moreE-appeal scheme, 2023 announced by CBDT, JCIT(A) will now hear appeal [Read notification]
The Principal Director General of Income-tax (Systems) or the Director General of Income tax (Systems), as the case may be,...
Read moreLimit of exempt income for leave encashment for non-govt employees increased to Rs. 25 lakh [Read notification]
having regard to the maximum amount receivable by its employees as cash equivalent of leave salary in respect of the...
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ANNUAL FEE CIRCULAR 2023-24 by ICAI for it’s members
The Partner has to give consent for payment of fees by the Firm through his login on SSP. Click “Pay...
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Extension in time limit for filing Form 10A, 10AB, 10BD, 10 etc. in relation to trust under Income tax act
CBDT has issued a circular no. 06 of 2023 Dt. 24.05.2023 for providing clarification in relation to various matters of...
Read moreGovernment issues guidelines to calculate net winning for section 194BA of the Act [Read circular]
The new section mandates a person, who is responsible for paying to any person any income by way of winnings...
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CBDT proposes changes to Rule 11UA in respect of ANGEL TAX- Also proposes to notify Excluded Entities
Rule 11UA currently prescribes two valuation methods with respect to valuation of shares namely, Discounted Cash Flow (DCF) and Net...
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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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