28 Mar CBDT notifies changes in ITR Form V and Acknowledgement for AY 2024-25
The CBDT, through Notification No. 37/2024 dated March 27, 2024...
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26 Mar A Closer Look at the Significant Tax Adjustments Coming into Force on April 1, 2024
April 1 signifies the start of a fresh fiscal year and holds great importance for personal finances, as many income tax adjustments from the Budget come into effect on this date....
22 Mar SEBI Amends Disclosure Requirements for FPIs with Majority Indian Equity AUM in Corporate Groups
SEBI previously issued a circular on August 24, 2023, mandating extra disclosures for FPIs meeting specific criteria. However, FPIs meeting these criteria were exempted from additional disclosure requirements, provided they met certain conditions....
21 Mar CBDT issues corrigendum to include sec. 43B(h) disallowance under clause 22 of Form 3CD
The Central Board of Direct Taxes (CBDT) introduced amendments to Form 3CD through Notification No. 27/2024 /F. No. 370142/3/2024-TPL, dated 05-03-2024. These amendments primarily focused on enhancing disclosures related to certain provisions of the Income Tax Act....
20 Mar Gross Direct Tax Revenues for FY24 Experience Notable Growth of 18.74%, net direct tax at 19.88%
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....
19 Mar CBDT Issues Guidelines on Income Tax Appeal Filing to Reduce Litigation
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...
19 Mar Key JSON Schemas for ITR-1 and ITR-4 Issued by Income Tax Department for Assessment Year 2024-25
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....
19 Mar CBDT Orders Income Tax Offices to Operate on March 29-31, 2024
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...
18 Mar Extension of Peer Review Mandate for CA Firms in Phase II & III
The Institute of Chartered Accountants of India (ICAI) has extended the applicability of the Peer Review Mandate for Chartered Accountant (CA) firms covered under Phase II & III. This revision aims to ensure adherence to enhanced quality standards within the profession....
18 Mar SEBI New Rule: Big Relief for foreign investors! SEBI approved the new rule, know what changes happened
SEBI, the regulatory body for the stock market, recently announced significant changes aimed at facilitating foreign investors (FPIs). One of the key developments is the introduction of the Same Day Settlement System, a pilot project known as T+0....