Income Tax News

CBDT specifies Safe Harbour Rules for AY 2022 at same rates

19 June 2022 at 11:35

CBDT on June 17, 2022 issued the income-tax (18th Amendment) Rules, 2022 to further amend the Income-tax Rules, 1962.

Posted in Income Tax | 2745 Views

CBDT provides relaxation from TDS u/s 194I on payment of lease or supplemental lease rent

18 June 2022 at 06:38

CBDT specifies that no deduction of tax shall be made under section 194-I of the Income-tax Act on payment in the nature of lease rent or supplemental lease rent

Posted in Income Tax | 1 comments | 6549 Views

CBDT notifies additional conditions to be fulfilled by a specified fund for availing exemption u/s 10 (4D)

18 June 2022 at 06:38

For the purposes of the proviso to item (III) of sub-clause (i) of clause (c) of the Explanation to clause (4D) of section 10 of the Act, the "other conditions" required to be fulfilled by a specified fund

Posted in Income Tax | 3606 Views

Net Direct Tax collections rose over 45% to over Rs. 3.39 lakh crore for FY 2022-23

18 June 2022 at 06:38

Net Direct Tax collections rose over 45% to over Rs. 3.39 lakh crore for FY 2022-23, representing an increase of 45% over the collections of the preceding year.

Posted in Income Tax | 1 comments | 4020 Views

Income Tax Department conducts searches in J&K and Delhi

18 June 2022 at 06:38

Income Tax Department carried out search and seizure operations on 15.06.2022 on a leading manufacturer and seller of Jamawar Shawls, Pashmina and Kashmiri Shawls.

Posted in Income Tax | 1575 Views

IT department issues revised instruction on action against taxpayers for high-pitched scrutiny assessment

17 June 2022 at 08:55

Revised Instruction for constitution and functioning of Local Committees to deal with taxpayers' grievances due to high-pitched Scrutiny Assessment

Posted in Income Tax | 5745 Views

CBDT issues guidelines for removal of difficulties under Section 194R

17 June 2022 at 08:55

Guidelines for removal of difficulties under sub-section (2) of section 194R of the Income-tax Act, 1961

Posted in Income Tax | 6807 Views

CBDT released Excel Offline Utility for ITR-5

15 June 2022 at 14:10

CBDT has released Excel Offline Utility dated June 14, 2022 for ITR-5.

Posted in Income Tax | 4377 Views

CBDT notifies 331 as Cost Inflation Index for FY 2022-23

15 June 2022 at 10:24

CBDT notifies Cost Inflation Index for FY 2022-23 at 331 vide Notification No. 62/2022-Income Tax dated: 14th June, 2022.

Posted in Income Tax | 17520 Views

IT Department aims to spread tax literacy among children through games, puzzles and comics

13 June 2022 at 08:53

CBDT has brought out products to introduce concepts related to taxation, often perceived to be complicated, to high school students through board Games, puzzles and comics.

Posted in Income Tax | 3366 Views