Income Tax News

TDS/TCS Filing Deadline Extended to 30th Sept for First Quarter of FY 2023-24

29 June 2023 at 08:56

CBDT extends the time limits for submission of certain TDS/TCS Statements. Due date for filing of TDS/TCS statements in Form Nos. 26Q, 27Q & 27EQ for first quarter of FY 2023-24 has been extended to 30th September, 2023.

Posted in Income Tax | 19980 Views

IT Department Cracks Down on Tax-Evading Influencers, Sends Notices to 15

29 June 2023 at 08:54

The Income Tax Department has been cracking down on social media influencers who have been flaunting their overseas holidays and luxury shopping on social media, but paying zero or "substantially low" tax.

Posted in Income Tax | 14160 Views

New TCS rates for LRS remittances to apply from 1st Oct 2023

29 June 2023 at 08:54

No change in rate of TCS for all purposes under LRS and for overseas travel tour packages, regardless of mode of payment, for amounts up to Rs. 7 lakh per individual per annum Government gives more time for implementation of revised TCS rates

Posted in Income Tax | 7788 Views

Over 1 Crore ITRs Submitted in Record Time, Outpacing Previous Year's Figure

28 June 2023 at 08:52

Over 1 crore ITRs have been filed till 26th June this year compared to 1 crore ITRs filed till 8th of July last year.

Posted in Income Tax | 2094 Views

CBDT implements amendments to rules governing institutions, trusts and funds

26 June 2023 at 08:35

The Income-tax (Eleventh Amendment) Rules, 2023 were notified by the Central Board of Direct Taxes on June 23, 2023. The amendments made by these rules are applicable from October 1, 2023.

Posted in Income Tax | 12435 Views

IT Raids on YouTubers: Kerala's Digital Stars in the Crosshairs

24 June 2023 at 16:22

The Income Tax department conducted raids on Thursday at the residences and offices of 13 prominent YouTubers and content creators in Kerala, including actress Pearle Maaney

Posted in Income Tax | 11370 Views

CBDT inserts New IT Rule 21AGA and amends IT Rules 2BB, 3 & 5

23 June 2023 at 08:53

The Central Board of Direct Taxes (CBDT) has recently issued Notification 43/2023, introducing crucial amendments to the Income-tax Rules, 1962.

Posted in Income Tax | 10818 Views

ITR-2 Offline Utility for AY 2023-24 Now Accessible for Filing Tax Returns

22 June 2023 at 08:54

Offline utility of ITR-2 for AY 2023-24 is available for filing. You can download it from the Income Tax Department website.

Posted in Income Tax | 8469 Views

New tab enabled for direct AIS access on income tax e-Filing portal

21 June 2023 at 13:22

The Income Tax Department has introduced a new tab on the e-filing portal for accessing the Annual Information Statement (AIS).

Posted in Income Tax | 14355 Views

CBDT specifies scope of e-Appeals Scheme, 2023 in order u/s 246(6) of IT Act

21 June 2023 at 08:47

CBDT (Central Board of Direct Taxes) has issued an order on June 16, 2023 to specify the scope of the e-Appeals Scheme, 2023 under Section 246(6) of the Income-tax Act, 1961.

Posted in Income Tax | 7668 Views