Income Tax News

Amendment in Audit Report Format of Trust (Form No.10B) & Rule 16CC & 17B

23 February 2023 at 08:45

The CBDT has notified the Income-tax (3rd Amendment) Rules, 2023, to amend IT Rules 16CC/17B and Forms 10B/10BB which shall be effective as of 01/04/2023, vide Income Tax Notification 7/2023.

Posted in Income Tax | 13965 Views

IT department searches Uflex offices across 64 locations

22 February 2023 at 08:36

The income-tax department on Tuesday conducted searches at 64 locations related to packaging company Uflex across the country, including its Noida office.

Posted in Income Tax | 6213 Views

CBDT released new Income Tax Calculator for Old Regime vis-à-vis New Regime as proposed by Finance Bill, 2023

20 February 2023 at 08:40

CBDT released the Tax Calculator regarding the Old Regime vis-à-vis New Regime for Individual/ HUF/ AOP/ BOI/ Artificial Juridical Person (AJP) as per section 115BAC as proposed by Finance Bill, 2023.

Posted in Income Tax | 16302 Views

IT Department carries out survey operations in Delhi & Mumbai

18 February 2023 at 07:33

A survey action under section 133A of the Income- tax Act, 1961(the Act) was carried out at the business premises of group entities of a prominent international Media Company at Delhi and Mumbai.

Posted in Income Tax | 4092 Views

Income Tax officials conduct searches at BBC's Delhi and Mumbai offices

15 February 2023 at 08:30

Income Tax officials today searched the BBC's Delhi and Mumbai offices and seized phones and laptops, weeks after the UK national broadcaster's documentary on Prime Minister Narendra Modi

Posted in Income Tax | 4689 Views

CBDT notifies New ITR Forms for AY 2023-24

14 February 2023 at 08:59

New ITR Forms for AY 2023-24 has been notified by CBDT

Posted in Income Tax | 13533 Views

Demonetisation led to detection of black money, increase in tax collection and widening of tax base

14 February 2023 at 08:59

Demonetisation, inter alia, led to detection of black money, increase in tax collection and widening of tax base: Union MoS for Finance Shri Pankaj ChaudharyDemonetisation, inter alia, led to detection of black money, increase in tax collection and w

Posted in Income Tax | 2499 Views

Direct tax collections up 24.09% to Rs 15.67 lakh crore till 10th Feb 2023

13 February 2023 at 08:40

Direct Tax Collections for F.Y. 2022-23 at ₹15.67 lakh crore - 24.09% higher than gross collections for corresponding period of last year as on 10.02.2023

Posted in Income Tax | 4323 Views

New Tax Regime Will Leave Higher Disposable Income: FM Nirmala Sitharaman

11 February 2023 at 08:36

Union Finance Minister Nirmala Sitharaman on Friday said the new tax regime will leave higher disposable income in the hands of people.

Posted in Income Tax | 4707 Views

CBDT issued corrigendum explaining amendments made in direct tax laws vide Finance Act 2022

08 February 2023 at 08:48

CBDT has issued Corrigendum dated February 06, 2023 to Circular No. 23 of 2022 dated November 03, 2022 on the Explanatory Notes to the Finance Act 2022 regarding the amendments made in direct tax laws vide Finance Act, 2022

Posted in Income Tax | 5613 Views