Income Tax News
CBDT Notifies New Income Tax Rules 13 and 13A Aligned with Finance Act, 2023
30 August 2023 at 08:44CBDT (Central Board of Direct Taxes) notified Rules 13 and 13A of the Income Tax Rules on August 28, 2023, to implement the amendments made to section 132 of the Income Tax Act, 1961 by the Finance Act, 2023.
Offline Mode Enabled for E-Filing of Form 10B for AY 2023-24
29 August 2023 at 08:39E-filing of Form 10B for A.Y. 2023-24 is enabled through offline mode. Taxpayers can download Offline Utility through "Downloads" Menu option ->Click on Form 10B->Form utility (From AY 23-24 onwards).
CBDT launches revamped National Website of Income Tax Department
26 August 2023 at 14:33CBDT launches revamped National Website of the Income Tax Department www.incometaxindia.gov.in
Govt Aims to Slash Income Tax Refund Processing Time from 16 Days to 10 Days
26 August 2023 at 08:47The proposed reduction from 16 days to 10 days, as per reports, indicates the Income Tax department's efforts to streamline its operations and enhance efficiency.
Form-10B Utility Released by Income Tax Department
25 August 2023 at 08:45Income Tax Department has released the Form 10B utility on August 24, 2023.
5.5 Crore Taxpayers Likely to Have Opted for New Tax Regime in FY24: A Comparative Analysis
23 August 2023 at 08:46Taxpayers have the flexibility to choose between the new and old tax regimes based on their financial circumstances and tax-saving preferences. If individuals find that the new regime is more beneficial for them, they can switch to it.
CBDT | Rent-Free Accommodation Taxed as Perquisite
22 August 2023 at 08:50The Income tax (Eighteenth Amendment), Rules, 2023 was notified by the Central Board of Direct Taxes (CBDT) on August 18, 2023. These rules amend the Income-tax Rules, 1962, with effect from September 1, 2023.
CBDT Issues Exchange Rate Notification for Foreign Currency TDS Deductions
22 August 2023 at 08:49The Income-tax (Seventeenth Amendment) Rules, 2023 was notified by the Central Board of Direct Taxes (CBDT) on August 17, 2023. The amendment has made changes to the Income-tax Rules, 1962
CBDT operationalises Advance Rulings in Delhi and Mumbai
21 August 2023 at 08:40The Central Board of Direct Taxes constituted three Boards for Advance Rulings in September, 2021.
CBDT notifies Rule for determination of value of perquisite in respect of residential accommodation provided by employer
21 August 2023 at 08:39The Finance Act, 2023 brought in an amendment for the purposes of calculation of "perquisite" with regard to the value of rent-free or concessional accommodation provided to an employee, by his employer.
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