CBDT has notified new Income Tax Rule 133 for furnishing details of TDS u/s 194BA in quarterly TDS Statements . Salary Certificate Form 16 revised form AY 2024-25Â
The CBDT has notified the Income-tax (Fifth Amendment) Rules, 2023 prescribing furnishing details of TDS u/s 194BA in the quarterly TDS Statement/Returns i.e. Form 2. Salary Certificate Form 16 has also been revised w.e.f. AY 2024-25.
The newly inserted Rule 133 prescribes formula for calculating net winnings from online games.Â
Apert from above, Form No. 16 (Salary Certificate) has also been revised with effect from 1st July 2023 and shall be applicable for the assessment year 2024-25 and subsequent assessment years.
Download CBDT Notification No. 28 of 2023 Click Here >>
- Penalty u/s 270A deleted as assessee filed revised computation during scrutiny
- Penalty u/s 271B for unfilled column 40 in Tax Audit Report Form 3CD deleted by ITAT
- Merely ex-parte rectifying computation without amending assessment order not make it nullity- ITAT
- Once assessee discharges primary onus, it shifts to AO to bring evidence to contrary – ITAT
- Cost Inflation Index for FY/Tax Year 2026-27 notified by CBDT. See Up-to-date Table of CII
