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CBDT News

26 Oct 2024

Govt Should Prioritise Review Of Income Tax Act: SBI Research

The Central Board of Direct Taxes (CBDT) has formed an internal committee to oversee a comprehensive review of the Income-tax Act, 1961 (Act), as was announced in the Union Budget 2024-25 by Finance Minister Nirmala Sitharaman.

01 Oct 2024

Income Tax Audit Report Deadline Extended For AY 2024-25: Check New Date

Income Tax Audit Report Deadline: The new deadline specifically applies to assessees covered under section 139 of the Income Tax Act, 1961.

30 Sep 2024

New Rule For Taxpayers Kicks In From Tomorrow, 1 October 2024 -- Check Details

The rules pertaining to Direct Tax Vivad Se Vishwas Rules 2024, which will provide lesser settlement amounts for a ‘new appellant’ in comparison to an ‘old appellant’.

23 Sep 2024

New Rule For Taxpayers Effective From 1 October-- Here's All You Want To Know

The Central Board of Direct Taxes (CBDT) has notifies Rules and Forms for Direct Tax Vivad Se Vishwas (DTVSV) Scheme, 2024, that provides for lesser settlement amounts for a ‘new appellant’ in comparison to an ‘old appellant’.

Direct Tax Scheme

22 Sep 2024

Vivad Se Vishwas Direct Tax Scheme: Check Benefits, Who Can Use the Scheme?

The Direct Tax Vivad Se Vishwas Scheme, 2024, applies to cases where appeals have been filed with the Commissioner (Appeals), Dispute Resolution Panel (DRP), Income Tax Appellate Tribunal (ITAT), High Court, or Supreme Court.

08 Aug 2024

CBDT Eases TDS Rule In Cases Of Death Of Deductees

In view of the genuine difficulties being faced by the taxpayers, the CBDT issued the Circular dated 05.08.2024, and vide the same, the government has relaxed the provisions of TDS/TCS as per the Income-tax Act, 1961, in the event of death of deductee/collectee before linking of PAN and Aadhaar, it added.

07 Aug 2024

Provisions Of TDS/TCS In Case Of Death Of Deductee Or Collectee Relaxed

On April 23, 2024, CBDT extended date for linking of PAN and Aadhaar May for the taxpayers (for the transactions entered into upto March 2024) to avoid higher TDS/ TCS as per the income tax act.

17 Apr 2024

CBDT Signs Record 125 Pacts To Ease Tax Payments By Big Multinational Firms

With this, the total number of APAs since the inception of the APA programme has gone up to 641.

Rajeev Chandrasekhar

09 Apr 2024

EC Orders Probe Into Union Minister Rajeev Chandrasekhar’s Affidavit Details

Union Minister Rajeev Chandrasekhar is a BJP candidate from Thiruvananthapuram Lok Sabha seat.

19 Sep 2023

Income Tax Alert: Due Date For Filing These ITR Forms Extended --Check Details

The CBDT circular has issued a curcular providing relaxation in respect of filing Form 10B/10BB, ITR-7 till THIS Date.

20 Aug 2023

CBDT Relaxes Rules For Valuing Rent-Free House By Employer, Read Impact

The new rules will provide a major relief to top management players or high salaried employees in corporate as their take home salary will increase.

foreign exchange violations

13 Apr 2023

ED Files Case Against BBC For Foreign Exchange Violations

The moves comes in the backdrop of the Income-Tax department surveying BBC office premises in Delhi in February.

15 Feb 2023

Income Tax: CBDT Notifies ITR Forms for Assessment Year 2023-24

ITR Form 1 (Sahaj) and ITR Form 4 (Sugam) are simpler forms that cater to a large number of small and medium taxpayers.

03 Feb 2023

Centre Expects 'Fabulous' Response to Revamped I-T Regime: CBDT

The new tax regime will be more beneficial for a person who does not have enough investments to claim I-T deductions. Under the revamped new tax regime, no tax would be levied for income up to Rs 3 lakh. It also allowed taxpayers to claim standard deduction of Rs 50,000.

24 Dec 2022

PAN card will become inoperable if you don't do THIS thing before March 2023

Income Tax department Saturday issued an advisory that those permanent account numbers (PAN). PAN which are not linked with Aadhar will become inoperative by the end of March. CBDT frames policy for the Income Tax department.

16 Dec 2022

Income tax alert: Govt allows non-resident taxpayers to manually file Form 10F

The Central Board of Direct Taxes (CBDT) had in July made it mandatory for non-resident taxpayers to file Form 10F electronically to claim benefit of lower Tax Deducted at Source (TDS).

13 Dec 2022

TDS on salary: CBDT issues IMPORTANT circular on salary income, check details

The circular basically explains the obligation of employers with regard to the deduction of tax at source from salaries under section 192 of the Income-tax Act, 1961 for Financial Year 2022-23.

28 Oct 2022

CBDT extends deadline for filing TDS for non-salary transactions till Nov 30

Form 26Q is used for quarterly filing of TDS returns on payments other than salary.

Central Board of Direct Taxes

01 Jul 2022

Will gift cards, reward points attract TDS on virtual digital assets?

The Central Board of Direct Taxes (CBDT) has now come up with a clarification. CDBT said that gift cards, mileage points, reward points, and loyalty cards will not come under the definition of VDAs.

Tax Deducted at Source

28 Jun 2022

New TDS rule from Jul 1: How will it impact doctors, social media influencers?

The Budget brought in a new section, 194R, in the I-T Act which requires deduction of tax at source at the rate of 10 per cent by any person, providing any benefit or perquisite exceeding Rs 20,000 in a year to a resident, arising from the business or profession of such resident.

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