Income Tax News
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.
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
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