Tag: cbdt notification
CBDT notifies all income tax returns (ITRS) forms ITRs 1 Sahaj ITR-2, 3, ITR 4 Sugam, ITR-5 . 6 and ITR-7 for Assessment Year 2024-25 CBDT by now has notified all income tax return forms (ITRS) for AY 2024-25. The new forms incorporates the changes required by the …
CBDT amends rules for furnishing declaration in Form 60 by person not having PAN Under clause (c) of sub section 5 of Section 139A, every person is required to quote such PAN in all documents pertaining to prescribed transactions entered into by him. Rule 114BA provides for quoting …
CBDT exempts income of District Mineral Foundation Trust u/s 10(46) MINISTRY OF FINANCE(Department of Revenue)(CENTRAL BOARD OF DIRECT TAXES) Notification No. 86/2023 New Delhi, the 4th October, 2023 S.O. 4342(E).— In exercise of the powers conferred by clause (46) of section 10 of the Income-tax Act, 1961 (43 …
CBDT notifies Form 10-IFA for exercise of option u/s 115BAE by new manufacturing co-operative societies The Finance Act, 2023, w.e.f. 1-4-2024 has inserted section 115BAE to provide for tax @ 15 percent on income of certain new manufacturing co-operative societies subject to fulfillment of prescribed conditions. The assessee, …
CBDT exempts income of Punjab Nurses Registration Council (PAN: AAABR0094H) u/s 10(46) for assessment years 2022-2023 and 2023-2024 MINISTRY OF FINANCE(Department of Revenue)(CENTRAL BOARD OF DIRECT TAXES) Notification No. 84/2023 New Delhi, the 29th September, 2023 S.O. 4265(E).—In exercise of the powers conferred by clause (46) of section …
CBDT notifies non-banking financial companies for the purpose of section 43D related to taxation of interest on bad or doubtful debts Section 43D of the of the Income Tax Act, 1961 (the Act) provides for the taxation of the interest income in relation to bad or doubtful debts …
Application for TDS mismatch correction. CBDT notifies Form 71 Mismatch of TDS credit has become a big trouble specially for the assessee and has give rise to increased litigation. Particularly when income is reflected in the return of income but the corresponding TDS has been deducted and paid …
Procedure to requisition services of Police/Govt. Official in search operation & reference to valuer CBDT has issued Notification No. 70/2023 dated 28.08.2023 prescribing a new Rule 13 for procedure to be followed for requisition of services of Police/Govt. Official in search operation & reference to valuer u/s 132 …
CBDT amends income tax rules for determining value of residential accommodation provided to the assessee by the employer CBDT notifies Rule for determination of value of perquisite in respect of residential accommodation provided by employer. The categorization and the limits of cities and population have now been based …
Telegraphic transfer buying rate to be rate of exchange for the purpose of deduction of tax at source on income payable in foreign currency CBDT has amended income tax rule 26 to provide that telegraphic transfer buying rate shall be the rate of exchange for the purpose of …