Income Tax

Deduction of Income tax for the FY 2024-25 The circular from the Principal Controller of Defence Accounts (Central Command) in Lucknow addresses the deduction of income tax for the financial year 2024-25. It emphasizes compliance with Section 192 … [Read more...] about Income Tax Deduction Guidelines FY 2024-25 for PCDA (CC) Lucknow

Order under section 119 of the Income-tax Act, 1961 The Central Board of Direct Taxes, under section 119 of the Income-tax Act, 1961, has directed all Income Tax Offices in India to remain open on 29th, 30th, and 31st March 2024. This decision … [Read more...] about Income Tax Offices Open on 29th, 30th, and 31st March, 2024

Processing of returns of income validly filed electronically with refund claims under section 143(1) of the Income-tax Act, 1961 beyond the prescribed time limits in non-scrutiny cases The Central Board of Direct Taxes (CBDT) in India has issued … [Read more...] about Relaxation in Income Tax Return Processing Time for AY 2021-22

HIGHLIGHTS OF FINANCE BILL, 2024: Proposed Tax Changes, Faceless Scheme Amendments, TCS Adjustments, and Outstanding Tax Demand Waivers HIGHLIGHTS OF FINANCE BILL, 2024 1. Proposed Changes in Tax Rates Note: View PDF for Finance … [Read more...] about FINANCE BILL 2024: Proposed Tax Changes & Reforms

Amendment to Income-tax Rules, 2024 - Notification G.S.R. 83(E) - New Delhi, 31st January, 2024 MINISTRY OF FINANCE(Department of Revenue)(CENTRAL BOARD OF DIRECT TAXES)NOTIFICATIONNew Delhi, the 31st January, 2024 G.S.R. 83(E).— In exercise of … [Read more...] about Income-tax (Amendment) Rules, 2024: New Delhi, 31st January, 2024

Processing of returns of income validly filed electronically with refund claims under section 143(1) of the Income-tax Act, 1961 beyond the prescribed time limits in non-scrutiny cases The Central Board of Direct Taxes (CBDT) in India, through F. … [Read more...] about Extension of Time for Processing Electronic Income Tax Returns with Refund Claims

Amendment Rules, 2024: Income-tax (First Amendment) The Ministry of Finance, Department of Revenue, and the Central Board of Direct Taxes issued a notification on 24th January 2024, marked as G.S.R. 64(E). This notification exercises powers under … [Read more...] about Income-tax (First Amendment) Rules, 2024

Explanatory Circular on Amendments to Income-Tax Act, 1961 through Finance Act, 2023 - Circular No. 1/2024 CIRCULAR NO. 1/2024 F. No. 370142/38/2023Government of IndiaMinistry of FinanceDepartment of Revenue(Central Board of Direct … [Read more...] about Explanatory Circular: Income-Tax Act Amendments – Circular No. 1/2024

Processing of returns with refund claims under section 143(1) of the Income-tax Act, 1961 beyond the prescribed time limits in non-scrutiny cases The Central Board of Direct Taxes (CBDT), under Section 119 of the Income-tax Act, has extended the … [Read more...] about Extension of Time Limits for Processing Refund Claims under Section 143(1)

Income Tax Reform and Circular Details The circular, dated 09.10.2023, issued by the Directorate General of the Central Public Works Department in Nirman Bhawan, New Delhi, highlights the introduction of Section 115BAC of the Income Tax Act, 1961, … [Read more...] about Income Tax Reform: Section 115BAC of the Income Tax Act, 1961