Income Tax

Amendment in Income tax Rules, 1962, insertion of new rule 133 for prescribing calculation of net winnings for online games, notification of revised Form No. 16, Form 24Q, Form 26Q, Form 27Q, and Form...

Central Board of Direct Taxes (CBDT) has recently released a user-friendly Income tax calculator for the financial year 2023-24. The tax calculator aims to assist individuals and businesses in estimat...

Circular No. 5 of 2023, issued by the Central Board of Direct Taxes (CBDT), provides guidelines for the implementation of section 194BA of the Income-tax Act, 1961. This section pertains to the deduct...

Myth 1: TCS applies to all foreign payments made by Indian companies. Fact: This is a myth. Tax Collected at Source (TCS) is a provision under the Indian Income Tax Act that requires the collection of...

The Income Tax Department has enabled the Income-tax Returns Form ITR 1 and ITR 4 at the income tax e-filing portal in Online mode with prefilled data. The availability of prefilled data in Income-tax...

Clarification on Applicability of Tax Collection at Source (TCS) to Small Debit/Credit Transactions under LRS The recent concerns raised regarding the applicability of Tax Collection at Source (TCS) t...

CBDT proposes changes to Rule 11UA in respect of ANGEL TAX- Also proposes to notify Excluded Entities In the Finance Act, 2023, an amendment has been introduced to bring the consideration received fro...

Notification No. 27/2023-Income Tax | Dated: 16th May, 2023 Introduction: The Mahila Samman Savings Certificate is a financial instrument that aims to empower and provide financial security to women i...

Ministry of Finance Income Tax Department conducted search and seizure operations on a business group operating largely in North Bengal region of the State of West Bengal. The business group is contro...

Revised e-Filing Helpdesk number for General Queries related to Income Tax, Rectification, Refund, Intimation and other Income Tax Processing Related Queries, e-Filing of Income Tax Return or Forms an...

CBDT notifies Food Safety and Standards Authority of India under Section 10(46) of Income Tax Act, 1961 vide Notification No. 26/2023-Income Tax Dated: 10th May, 2023 MINISTRY OF FINANCE (Department o...

CBDT notifies Pune Metropolitan Region Development Authority under Section 10(46) of Income Tax Act, 1961 vide Notification No. 25/2023-Income Tax Dated: 10th May, 2023. MINISTRY OF FINANCE (Departmen...

Appendix-I Declaration of no PE in India Declaration required u/s 9 of Income Tax Act, and for claiming relief under an agreement referred to in section 90 and 90A i.e. (for claiming the benefit of DT...

Notification No. 24/2023- Income-Tax Dated: 03rd May, 2023 under section 90(1) of Income tax Act, 1961 regarding Agreement and Protocol between the Government of the Republic of India and the Governme...

Updated List of banks for tax payments available at e-Pay Tax service at e-Filing Portal- HDFC Bank, Punjab & Sind Bank and State Bank of India have been migrated from OLTAS e-Payment of Taxes at NSDL...

PCIT Vs Abhisar Buildwell P Ltd (Supreme Court of India) Revenue files MA in SC seeking clarification regarding applicability of judgement in the light of provisions of Section 150 of IT Act 1961 Afte...

Union Finance Minister Smt. Nirmala Sitharaman chairs review meeting with Central Board of Direct Taxes Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman chaired a periodic review...

MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) New Delhi Notification No. 23/2023-Income Tax Dated: 21st April, 2023 S.O. 1831(E).—In exercise of the powers conferred by c...

Notification No. 22/2023- Income Tax Dated : 17th April, 2023 – Central Government notifies amendment in notification related to exemption under section 10(46) of Income Tax Act, 1961 to ‘Maharashtra...

MINISTRY OF LAW AND JUSTICE (Legislative Department) New Delhi, the 12th April, 2023 CORRIGENDA THE FINANCE ACT, 2023 No. 8 OF 2023 In the Finance Act, 2023 (8 of 2023), published in the Gazette of In...