Income Tax News
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.
Direct tax collection surges over 35% till 8th September 2022
10 September 2022 at 08:39Direct Tax collections up to 8th September, 2022 show that gross collections are at Rs. 6.48 lakh crore, which is 35.46% higher than the gross collections for the corresponding period of last year.
IT Department conducts searches on prominent business groups in Maharashtra
10 September 2022 at 08:39The Income Tax Department carried out a search & seizure action on 25.08.2022 on two groups engaged in the business of sand mining, sugar manufacturing, road construction, healthcare, running of medical college etc.
CBDT grants IT exemption to CERSAI under u/s 10 (46)
07 September 2022 at 08:37The central government has granted income tax exemption to Central Registry of Securitisation Asset Reconstruction and Security Interest of India (CERSAI), a body set up to record security interest of lenders on assets.
Over 1.55 lakh updated ITRs filed in May-September 2022
05 September 2022 at 08:37Over 1.55 lakh updated income tax returns (ITR-U) have been filed up to September 2, the income tax department said on Sunday.
CBDT issues refunds to more than 1.97 crore taxpayers between 1st April to 31st August 2022
03 September 2022 at 12:59CBDT issues refunds of over Rs. 1.14 lakh crore to more than 1.97 crore taxpayers between 1st April, 2022 to 31st Aug, 2022.
E-Pay Tax service using UPI, Credit Card, RTGS/NEFT enabled on IT portal
03 September 2022 at 09:09The income tax department's e-filing portal has expanded payment choices for the e-pay tax service, including RTGS/NEFT and payment gateway modes.
CBDT eases PAN / Aadhaar norm for government/consular office
03 September 2022 at 08:45The Central Board of Direct Taxes (CBDT) has eased the requirement of quoting Permanent Account Number (PAN) or Aadhaar in the case of certain transactions by the government or a consular office, showed an official order.
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