On November 18, 2024, the Central Board of Direct Taxes (CBDT) issued Circular No. 17/2024. This circular addresses the condonation of delays in filing Form 10-IC or Form 10-ID for…
🟥 CBDT Circular on Condonation of Delay for Filing Forms 9A/10/10B/10BB
Date: November 18, 2024Category: CBDT Notification The Central Board of Direct Taxes (CBDT) has issued Circular No. 16/2024 concerning the condonation of delay under Section 119(2)(b) of the Income-tax Act,…
India’s Direct Tax Collections Surge by 21.48% in FY 2024-25
By: Admin | September 18, 2024 | Categories: Tax Policy | 4 Min Read As of September 17, 2024, India’s Direct Tax collections for FY 2024-25 have shown remarkable growth,…
Income Tax Department Targets Rs 15,000 Crore Evasion Following Hotel, Hospital, and Shopping Bills Investigation
By: Admin | August 23, 2024 | Categories: Income Tax News | 4 Min Read The Income Tax Department has issued 10,000 reopening notices to companies and individuals across major…
CBDT Forms Committee to Review Income Tax Act, Plans to Eliminate ‘Sunset’ Clauses
By: Admin | August 22, 2024 | Categories: Tax News | 4 Min Read The Central Board of Direct Taxes (CBDT) has established a new committee to review the Income…
CBDT Clarifies ITCC Requirements for Indian Citizens
By: Admin | August 21, 2024 | Categories: Income Tax, Press Release | 4 Min Read The Central Board of Direct Taxes (CBDT) has clarified the requirements for obtaining an…
Madras High Court Orders GST Authority to Address Assessee’s Rectification Application Due to Form GSTR-1 Error
By: Admin | August 21, 2024 | Categories: Important Pronouncements | 4 Min Read The Madras High Court, in Veeran Mehhta v. Deputy Commercial Tax Officer and Deputy State Tax…
CBDT Directs I-T Dept to Monitor High-Value Cash Transactions at Hotels and Hospitals
Introduction The Central Board of Direct Taxes (CBDT) has instructed the Income Tax (I-T) department to monitor cash transactions in high-value sectors, including hotels, luxury brand retailers, hospitals, and IVF…
Income Additions: Why an ITAT Investigation Report Alone is Insufficient
By: AdminDate: August 17, 2024Categories: ITAT | NewsReading Time: 4 Minutes Mumbai ITAT Ruling: Generalized Investigation Reports Insufficient The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) has delivered…
Taxpayers Alert: ITR Processing Time Slashed to 10 Days from 93 Days
By: AdminDate: August 14, 2024Category: Income Tax News | NewsRead Time: 4 Minutes Finance Minister Nirmala Sitharaman announced a significant reduction in the average processing time for income tax returns…