Income Tax News

CBDT notifies Form 52A & Rule 121A to be furnished u/s 285B for producers of cinematograph films

16 September 2022 at 08:46

Form of statement to be furnished by producers of cinematograph films or persons engaged in specified activity.

Posted in Income Tax | 3792 Views

Banks exempted from 10% TDS for one-time loan settlements

15 September 2022 at 08:44

TDS won't be applicable on one-time loan settlement with borrowers/waiver of loan granted on reaching settlement with the borrowers by institutions such as public financial institutions, scheduled banks

Posted in Income Tax | 1 comments | 4698 Views

CBDT issued additional guidelines for removal of difficulties u/s 194R

14 September 2022 at 08:35

Additional Guidelines for removal of difficulties under sub-section (2) of section 194R of the Income-tax Act, 1961

Posted in Income Tax | 1 comments | 7362 Views

Withdrawal functionality of 15CB forms enabled at e-filing portal

11 September 2022 at 09:32

Withdrawal facility has now been enabled on the e-filing portal, facilitating the CAs to withdraw the 15CB forms by recording appropriate reasons, therein.

Posted in Income Tax | 5409 Views

Direct tax collection surges over 35% till 8th September 2022

10 September 2022 at 08:39

Direct Tax collections up to 8th September, 2022 show that gross collections are at Rs. 6.48 lakh crore, which is 35.46% higher than the gross collections for the corresponding period of last year.

Posted in Income Tax | 2985 Views

IT Department conducts searches on prominent business groups in Maharashtra

10 September 2022 at 08:39

The Income Tax Department carried out a search & seizure action on 25.08.2022 on two groups engaged in the business of sand mining, sugar manufacturing, road construction, healthcare, running of medical college etc.

Posted in Income Tax | 1695 Views

CBDT grants IT exemption to CERSAI under u/s 10 (46)

07 September 2022 at 08:37

The central government has granted income tax exemption to Central Registry of Securitisation Asset Reconstruction and Security Interest of India (CERSAI), a body set up to record security interest of lenders on assets.

Posted in Income Tax | 3162 Views