Effective from April 1, 2024, the exemption is poised to incentivize businesses to operate within the IFSC framework, fostering an environment conducive to growth and innovation in the financial services sector.
In a move to provide relief to taxpayers, the Central Board of Direct Taxes (CBDT) has issued Circular No. 04/2024 dated March 07, 2024, announcing the ex-post facto extension of the due date for filing Form No. 26QE.
The Income Tax Department unveiled a crucial update on March 7, 2024, pertaining to the submission of Updated Income Tax Returns (ITR) under section 139(8A) of the Income Tax Act 1961.
CBDT clarifies provisions under Finance Act 2023 relating to donations made by a trust/institution to another trust/institution for purposes of the application of income
One senior finance ministry official clarified, "Companies need to make payments to the MSME sector within 45 days, as per the Finance Act 2023, effective from April 1, 2024.
The Central Board of Direct Taxes (CBDT) has recently made significant amendments to various tax-related forms, including the tax audit form (Form 3CD & Form No. 3CEB) and the Form for filing of tonnage tax application (Form 65).
In a landmark ruling, a Central Bureau of Investigation (CBI) court has delivered a resounding blow against corruption by sentencing two former income tax officials, Mahesh Sompura and Mukesh Raval, to three years in prison each.
CBDT allows certain trusts/institutions to furnish the audit report in the applicable Form No. 10B / 10BB on or before 31st March, 2024
The Income Tax Department released an update notifying taxpayers of the enabling of online filing for Form I SWF.
Last date for filing of updated returns (ITR-U) for A.Y. 2021-22 (i.e. for F.Y. 2020-21) is 31.03.2024
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