Exercise of option etc. under Explanation 3 to the third proviso to clause (23C) of section 10 or section 11
The Income Tax Department carried out a search operation on 03.08.2022 on a Jhansi based group, engaged in the business of civil contract and real estate development.
IT Department conducts searches in Rajasthan & Maharashtra
E-filing of Updated ITR u/s 139(8A) has also been enabled for ITR 7 for AY 2020-21 and AY 2021-22 using Excel utility.
In the changed Atal Pension Yojana rules, an income tax payer will not be eligible to open Atal Pension Yojana account from 1st October 2022.
The Income Tax Department carried out a search operation on 14.07.2022 on a group engaged in the business of mining, sugar manufacturing and liquor.
Banks have approached the Central Board of Direct Taxes (CBDT) for clarity on the scope of Section 194R of the Income Tax Act, as they fear the newly introduced provision will force them to deduct a 10% tax at source on incentives
Various factors like rapid economic recovery post COVID, better compliances due to various measures taken by Government have contributed to increase in tax collection.
Conditions, forms to get IT exemption on Covid 19 help money
Condition for claiming tax exemption for receiving ex-gratia amount due to COVID-19
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