Central Board of Direct Taxes Implements the e-Appeals Scheme The Central Board of Direct Taxes (CBDT) has introduced the e-Appeals Scheme, 2023, under the powers conferred by sub-section (5) of section 246 of the Income-tax Act, 1961. The scheme, … [Read more...] about Allocation and Disposal of Appeals under the e-Appeals Scheme 2023
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Income Tax
Income Tax Sixth Amendment Rules 2023
Central Board of Direct Taxes (CBDT) Issues Notification on Income Tax Sixth Amendment Rules 2023 The Ministry of Finance, Department of Revenue, and Central Board of Direct Taxes have issued a notification on May 29, 2023, regarding amendments to … [Read more...] about Income Tax Sixth Amendment Rules 2023
Clarification on TDS Deduction Under New Tax Regime: Circular No. 04 of 2023
Deduction of TDS under section 192 read with sub-section (1A) of section 115BAC of the Income-tax Act, 1961 Circular No. 04 of 2023 issued by the Ministry of Finance, Department of Revenue, Central Board of Direct Taxes, clarifies the procedure … [Read more...] about Clarification on TDS Deduction Under New Tax Regime: Circular No. 04 of 2023
Understanding the Changes in Income Tax Regulations for F.Y- 2023-2024
Assessing and Regularization of Income Tax for the F.Y- 2023-2024 The Controller of Defence Accounts, Guwahati has issued a circular to all officers and staff members requesting them to submit a "self declaration" stating the module of Tax … [Read more...] about Understanding the Changes in Income Tax Regulations for F.Y- 2023-2024
Understanding the tax implications of investing in the National Pension System
Clarification on Provisions of Income Tax Act' 1961 for National Pension System (NPS) The Food Corporation of India has issued a circular (FCIDCPS-02/2023) on 13th Feb 2023, clarifying the provisions under the Income Tax Act of 1961 pertaining to … [Read more...] about Understanding the tax implications of investing in the National Pension System
Income-tax (First Amendment) Rules, 2023
New ITR Forms Released for the Income-tax (First Amendment) Rules, 2023 The Central Board of Direct Taxes, under the Ministry of Finance in India, has announced new rules to amend the Income-tax Rules, 1962. The Income-tax (First Amendment) Rules, … [Read more...] about Income-tax (First Amendment) Rules, 2023
Finance Bill 2023 – Union Budget
Finance Bill 2023 - Union Budget India 2023-24 has been presented by MoF Mrs. Nirmala Sitharaman FINANCE BILL, 2023PROVISIONS RELATING TO DIRECT TAXES Introduction The provisions of Finance Bill, 2023 (hereafter referred to as “the Bill”), … [Read more...] about Finance Bill 2023 – Union Budget
Notice of Income Tax Demand for the 2020-21 Financial Year (AY 2021-22)
Income Tax Demand Notice under section 143(1) due to mismatch of Tax credit for the Financial Year 2020-21 (AY 2021-22) O/o PCDA(O), Golibar Maidan, Pune Subject: Income Tax Demand Notice under section 143(1) due to mismatch of Tax credit for … [Read more...] about Notice of Income Tax Demand for the 2020-21 Financial Year (AY 2021-22)
Income tax Calculation Example 9 For Assessment Year 2023-24
Income tax Calculation Example 9 for Salary Employees 2023-24 – Example 9 Example 9 For Assessment Year 2023-24 I. Computation of Taxable Salary and allowances, Deduction for Interest on Housing Loan and Deduction u/s 8OC. Mr. X, a … [Read more...] about Income tax Calculation Example 9 For Assessment Year 2023-24
Income tax Calculation Example 8 For Assessment Year 2023-24
Income tax Calculation Example 8 for Salary Employees 2023-24 – Example 8 Example 8 For Assessment Year 2023-24 A. Calculation of Income tax in the case of a retired employee, above the age of 80 years and having gross pension … [Read more...] about Income tax Calculation Example 8 For Assessment Year 2023-24