Income Tax News
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.
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
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 released Excel Offline Utility for ITR-5
15 June 2022 at 14:10CBDT has released Excel Offline Utility dated June 14, 2022 for ITR-5.
CBDT notifies 331 as Cost Inflation Index for FY 2022-23
15 June 2022 at 10:24CBDT notifies Cost Inflation Index for FY 2022-23 at 331 vide Notification No. 62/2022-Income Tax dated: 14th June, 2022.
IT Department aims to spread tax literacy among children through games, puzzles and comics
13 June 2022 at 08:53CBDT 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.
CBDT Chairman: Taxpayers base and ITRs rose for FY 2022
12 June 2022 at 09:13The number of income tax returns has increased in FY22 over the previous fiscal, Central Board of Direct Taxes Chairman Sangeeta Singh said on Saturday.Talking to PTI, Ms Singh said the number of income tax returns last fiscal was 7.14 crore against
Compliance Check Functionality for Section 206AB & 206CCA of Income-tax Act 1961
10 June 2022 at 08:48Section 206AB and 206CCA of the Income-tax Act,1961 (effective from 1st July 2021 and amended via Finance Act, 2022), imposed higher TDS/TCS rate on the "Specified Persons"
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