The income tax department now allows taxpayers to discard original unverified returns under Section 139. Understand eligibility, process, implications and key aspects about using the new discard return facility.
CBDT Chairman Nitin Gupta inaugurated the Taxpayers' Lounge at the 42nd IITF in Delhi. The lounge aims to spread awareness about Income Tax services and initiatives.
CBDT instructions regarding revision of timeline and monetary limits for withholding tax refunds under Section 245 of the Income Tax Act
CBDT notifies changes in ITR-7 for AY 2023-24 to allow separate reporting of 115BBI income and correct computation of tax by applying normal rates only on other income.
CBDT condones delay in filing Form 10-IC for AY 2021-22 to provide relief to domestic companies from delay, subject to conditions like filing ITR on time.
CBDT amends IT rules retrospectively from July 2021, inserts Rule 16D and Form 56F for claiming deduction under Section 10AA, to streamline process of availing SEZ deduction.
The CBDT has issued new rules relaxing PAN requirements for non-resident and foreign companies transacting with IFSC banking units in India. Key changes explained.
CBDT notifies new IT Rule 21AHA for cooperative societies to opt for 15% concessional tax rate u/s 115BAE and specifies eligibility, procedure to exercise option, and conditions.
CBDT issues notification with new rules for audit report u/s 142(2A)(i) in Form 6B and inventory valuation report u/s 142(2A)(ii) in Form 6D along with guidelines for remuneration.
CBDT extends due dates for Form 10B/10BB and ITR-7 (AY 2023-24) due to challenges faced by entities under sections 10(23C) and 12A. New deadlines: 10B/10BB - Oct 31, 2023, …