Income Tax News
Income Tax Dept Introduces Challan Correction Facility for Easy Tax Payment Modifications
19 August 2023 at 08:31The Income Tax India portal has introduced a new feature called "Challan Correction," accessible through the path Dashboard > Services > Challan Correction.
CBDT Releases Guidelines on Tax Exemption for Life Insurance Policies u/s 10(10D) of IT Act
18 August 2023 at 08:46CBDT (Central Board of Direct Taxes) issued guidelines on the applicability of exemption under section 10(10D) of the Income Tax Act, 1961 (IT Act) for life insurance policies on August 16, 2023 vide Circular No. 15 of 2023.
CBDT Sets New Rules for Calculating Income from Life Insurance Premiums Above Rs 5 Lakh
17 August 2023 at 08:57Central Board of Direct Taxes (CBDT) notified Rule 11UACA on August 16, 2023, for tax calculation on life insurance policy amounts under section 56(2)(xiii) of the Income Tax Act, 1961 (the IT Act).
CBDT Seeks Public Input on Proposed Changes to Form No. 6C
17 August 2023 at 08:56CBDT has invited suggestions/comments on the draft Form No. 6C from stakeholders and general public. The deadline for submitting suggestions/comments is August 31, 2023.
Income Tax Department Raises Alarm Over Surge in Deceptive Messages Targeting Taxpayers
16 August 2023 at 08:41The Income Tax Department has warned the public about a surge in fraudulent messages circulating, aimed at deceiving taxpayers into providing sensitive information.
Rs 15,000 Crore Alleged Tax Evasion by Insurance Firms Uncovered
16 August 2023 at 08:41The Income Tax department has completed its investigation into several insurance companies and uncovered alleged tax evasion amounting to more than Rs 15,000 crore (Indian rupees).
Direct Tax Collections Reach Rs. 6.53 Lakh Crore, Marking 15.73% Growth by Aug 10, 2023
12 August 2023 at 08:46The provisional figures of Direct Tax collections up to 10th August, 2023 continue to register steady growth. Direct Tax collections up to 10th August, 2023
CBDT Extends Applicability of Transfer Pricing Safe Harbour Rules Until AY 2023-24
11 August 2023 at 08:46The CBDT has extended the applicability of Rule 10TD(1) and Rule 10(2A) of the IT Rules, 1962, which are the Transfer Pricing Safe Harbour Rules, until the Assessment Year 2023-24.
CBDT Unveils New Guidelines for Comprehensive Scrutiny of Tax Returns in FY 2023-24
10 August 2023 at 09:02Central Board of Direct Taxes (CBDT) issued guidelines on August 3, 2023 for the mandatory selection of returns for comprehensive scrutiny in the financial year 2023-24.
BCCI's Income Tax Payment Surges to Rs 1159 Crore, Mirrors Revenue Growth
09 August 2023 at 08:57The Board of Control for Cricket in India (BCCI), the apex governing body for cricket in the country, made a substantial contribution to the nation's finances during the 2021-22 fiscal year.
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