Income Tax News
3 IT officials siphoned off crores through fictitious TDS refunds
27 June 2022 at 08:36The Central Bureau of Investigation (CBI) has registered a case against three Income-Tax Department officials and nine beneficiaries for allegedly facilitating fraudulent refunds of Tax Deducted at Source (TDS).officials have been identif
CBDT releases Format, Procedure and Guidelines for submission of Forms for Securities Transaction Tax
25 June 2022 at 08:32Format, Procedure and Guidelines for submission of Form No. 1, Form No. 2 and Form No. 2A for Securities Transaction Tax (STT)
CBDT notified new TDS Challan Forms 26QB, 26QC, 26QD, 26QE
23 June 2022 at 08:52In exercise of the powers conferred by section 295 read with sections 194B, 194-IA, 194R, 194S and section 206AB of the IT Act, 1961, CBDT makes rules further to amend the Income-tax Rules, 1962
CBDT issues guidelines for removal of difficulties under Section 194S of IT Act, 1961
23 June 2022 at 08:51CBDT issued guidelines that will apply only in cases where transfer of VDA is taking place on or through an Exchange.
IT Dept conducts searches in Rajasthan/Mumbai seizing unaccounted income in excess of Rs. 100 crore
22 June 2022 at 08:46Income Tax Department carried out search and seizure operations on 16.06.2022 on a business group involved in retail and export sale of handicrafts, cash financing, purchase and sale of land and buildings, alongwith some bullion traders.
Income Tax Department conducts searches on a leading industrial group of Chennai
21 June 2022 at 08:55Income Tax Department carried out search and seizure operations on 15.06.2022 on a leading industrial group of Chennai, engaged in the business of manufacturing of IMFL, logistics, hospitality, entertainment etc
CBDT specifies Safe Harbour Rules for AY 2022 at same rates
19 June 2022 at 11:35CBDT on June 17, 2022 issued the income-tax (18th Amendment) Rules, 2022 to further amend the Income-tax Rules, 1962.
CBDT provides relaxation from TDS u/s 194I on payment of lease or supplemental lease rent
18 June 2022 at 06:38CBDT specifies that no deduction of tax shall be made under section 194-I of the Income-tax Act on payment in the nature of lease rent or supplemental lease rent
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.
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