Category: Income Tax
The ICAI has published a Guide on Withholding Taxes (TDS) on Payments to Non-Residents under Section 195 of the Income Tax Act, 1961, and Forms 15CA and 15CB to …
The Institute of Chartered Accountants of India (ICAI) has released an exposure draft of the “Guidance Note on Audit of Public Charitable Institutions u/s 12A of the Income Tax …
The preliminary estimates of total money collected from direct taxes for the FY 2022-23 (up to January 10, 2023) continue to indicate consistent growth. The total amount of money …
CBDT has abolished the limit of interest income exceeding Rs 5,000 for the purpose of SFT reporting, vide Notification 1/2023, w.e.f. 05/01/2023. Now the information in SFT is required …
CBDT has further extended/relaxed the compliance deadline for claiming exemption under sections 54 to 54GB of the Income Tax Act, 1961, in light of the hardship experienced by taxpayers …
ICAI has published the revised “Technical Guide on Royalty and Fees for Technical Services” (December 2022 Edition), which incorporates all the amendments made by the Finance Act, 2022, for …
According to news reports, the Hon’ble Karnataka High Court (HC) has granted significant relief to Xiaomi Technology India Pvt Ltd by setting aside the Income Tax Department’s order to …
Bengaluru MP Tejasvi Surya has raised the issue in Parliament about including Bengaluru in Metro Cities for allowing 50% HRA exemption under Section 10(13A) of the Income Tax Act, …
The CBDT has issued instructions/circular compiling the provisions/rates applicable u/s 192 for TDS on Salary payments to employees during FY 2022-23 (AY 2023-24), for the guidance of concerned employers/employees. …
The Income Tax (IT) Department issued the following tweet on December 6, 2022, warning the public and taxpayers to be wary of a fake helpline/customer care (# 9564148567): “This …
