Income Tax News
CBDT issues guidelines for removal of difficulties under Section 194S of IT Act, 1961
23 June 2022 at 08:51CBDT issued guidelines that will apply only in cases where transfer of VDA is taking place on or through an Exchange.
IT Dept conducts searches in Rajasthan/Mumbai seizing unaccounted income in excess of Rs. 100 crore
22 June 2022 at 08:46Income Tax Department carried out search and seizure operations on 16.06.2022 on a business group involved in retail and export sale of handicrafts, cash financing, purchase and sale of land and buildings, alongwith some bullion traders.
Income Tax Department conducts searches on a leading industrial group of Chennai
21 June 2022 at 08:55Income Tax Department carried out search and seizure operations on 15.06.2022 on a leading industrial group of Chennai, engaged in the business of manufacturing of IMFL, logistics, hospitality, entertainment etc
CBDT specifies Safe Harbour Rules for AY 2022 at same rates
19 June 2022 at 11:35CBDT on June 17, 2022 issued the income-tax (18th Amendment) Rules, 2022 to further amend the Income-tax Rules, 1962.
CBDT provides relaxation from TDS u/s 194I on payment of lease or supplemental lease rent
18 June 2022 at 06:38CBDT 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
CBDT notifies additional conditions to be fulfilled by a specified fund for availing exemption u/s 10 (4D)
18 June 2022 at 06:38For 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
Net Direct Tax collections rose over 45% to over Rs. 3.39 lakh crore for FY 2022-23
18 June 2022 at 06:38Net 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.
Income Tax Department conducts searches in J&K and Delhi
18 June 2022 at 06:38Income 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.
IT department issues revised instruction on action against taxpayers for high-pitched scrutiny assessment
17 June 2022 at 08:55Revised Instruction for constitution and functioning of Local Committees to deal with taxpayers' grievances due to high-pitched Scrutiny Assessment
CBDT issues guidelines for removal of difficulties under Section 194R
17 June 2022 at 08:55Guidelines for removal of difficulties under sub-section (2) of section 194R of the Income-tax Act, 1961
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