Latest Amendments in Income Tax

CA.Sangam Aggarwal | Last updated: 01 April 2024

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The latest amendments to the Income Tax Act bring significant changes, including the extinguishment of certain outstanding tax demands up to specific limits for older assessment years. Additionally, the processing of returns for AY 2021-22 with refund claims is extended. The article also details amendments to forms like 3CD, 3CEB, and 65, and clarifies rules regarding donations to trusts and institutions, treating only 85% as application for charitable purposes.

Extinguish of demand The CBDT has issued order that tax demands under Income Tax Act, Wealth Tax, and Gift Tax which are outstanding as on 31st March pertaining to assessment year 2010-11- each demand entry up to Rs. 25000/- and assessment year 2011-12 to 2015-16 - each demand entry up to Rs. 100

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About the Author

CA.Sangam Aggarwal

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Secretary NIRC of ICAI (2022-23), Regional Council Member (2022-25), FCA, LLB, DISA, B. Com(H). CA by profession and social worker by heart. I like to debate on social issue. I love to travel and to watch movie recently i watch 12th Fail movie and it is classical movie. I believe in spreading the smile. Help student ... Read more

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Latest Amendments in Income Tax

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