20 Mar Filing of Form 10-IEA for Income-Tax Return
The Income-Tax Department has introduced Form 10-IEA for individuals who wish to switch back to the old tax regime from the new one....
The Income-Tax Department has introduced Form 10-IEA for individuals who wish to switch back to the old tax regime from the new one....
Income tax and Tax Deducted at Source (TDS) represent distinct facets of taxation, each with its own operational framework....
During the recent Budget speech, Finance Minister Nirmala Sitharaman revised the projection for direct tax collections in FY24 to Rs 19.45 lakh crore, reflecting an increase from the initial estimate of Rs 18.20 lakh crore....
The Central Board of Direct Taxes (CBDT) has issued Circular No. 5/2024 dated March 15, 2024, under Section 268A of the Income-tax Act, 1961, providing guidelines for the Department's appeal filings before the Income Tax Appellate Tribunal (ITAT), High Courts (HCs), and for Special Leave...
The Income Tax Department has recently unveiled the JSON Schema for ITR-1 for the Assessment Year 2024-25, corresponding to the Financial Year 2023-24....
The Central Board of Direct Taxes (CBDT) has issued an Order dated March 18, 2024, announcing the extension of working days for all Income Tax Offices in India. This extension applies to March 29, 30, and 31, 2024, with the aim of facilitating the completion...
Lottery tickets are often seen as gateways to instant wealth, but few realize the tax implications that accompany such windfalls. Section 194G of the Income Tax Act delineates the provisions for Tax Deducted at Source (TDS) on various activities related to lottery tickets, including their...
The Indian Income Tax Act incorporates provisions for Tax Collected at Source (TCS), where specific individuals are mandated to collect a predetermined percentage of tax from their buyers during certain transactions....
The Central Board of Direct Taxes (CBDT) has issued an order on March 13, 2024, under section 119 of the Income-tax Act, 1961, providing relief to successor companies involved in business reorganizations such as amalgamations, mergers, or demergers sanctioned by competent authorities such as High...
Section 194R, introduced as part of the Finance Act 2022, addresses the taxation of benefits or perks associated with business or professional activities and the subsequent deduction of taxes....
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