Income Tax News
FM Sitharaman sets a new three-point governing principle for income tax department
28 September 2022 at 10:05Finance minister Nirmala Sitharaman on Tuesday urged the income tax department to assess tax returns and process tax refunds even faster and redress pending grievances of assessees as she set a new three-point governing principle for the tax department
FM's Awards conferred on employees of Income Tax Department
28 September 2022 at 08:33The awards were presented to the officers and officials who have contributed to promoting excellence in the field of Direct Taxation by their innovative ideas and special efforts as well as commitment to duty.
Timeline for filing of modified returns in Form ITR-A u/s 170A extended till 31st March 2023
27 September 2022 at 08:35CBDT has issued Order vide F. No. 370142/41/2022-TPL dated September 26, 2022 extends the timeline for filing of modified ITR in Form ITR-A by a successor company u/s 170A from September 30, 2022 to March 31, 2023.
CBDT notified form ITR-A for filing of modified return by successor entity
21 September 2022 at 08:38CBDT notifies the Income-tax (31st Amendment) Rules, 2022, to insert new IT Rule 12AD/ Form ITR-A regarding filing of Return of Income by a Successor Entity
Gross Direct tax collection grows 30% to Rs 8.36 lakh crore in FY 2022-23
19 September 2022 at 08:28The Gross collection of Direct Taxes (before adjusting for refunds) for the FY 2022-23 stands at Rs. 8,36,225 crore compared to Rs. 6,42,287 crore
CBDT issues revised guidelines for compounding of offences under IT Act 1961
18 September 2022 at 07:36CBDT has taken steps and issued revised Guidelines for Compounding of offences under the Income-tax Act, 1961(the 'Act') dated 16.09.2022
CBDT notifies Form 52A & Rule 121A to be furnished u/s 285B for producers of cinematograph films
16 September 2022 at 08:46Form of statement to be furnished by producers of cinematograph films or persons engaged in specified activity.
Banks exempted from 10% TDS for one-time loan settlements
15 September 2022 at 08:44TDS 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
CBDT issued additional guidelines for removal of difficulties u/s 194R
14 September 2022 at 08:35Additional Guidelines for removal of difficulties under sub-section (2) of section 194R of the Income-tax Act, 1961
Withdrawal functionality of 15CB forms enabled at e-filing portal
11 September 2022 at 09:32Withdrawal facility has now been enabled on the e-filing portal, facilitating the CAs to withdraw the 15CB forms by recording appropriate reasons, therein.
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