CBDT has released its circular amending Rule 3 Sub Rule (1) & (5) of the Income-tax Rules,1962 for the purpose of sub-clauses (i) and (ii) of sub-section (2) of section 17 of the Income Tax Act, 1961.
Timelines extended for filing Form 10B/10BB & ITR – 7
18 Sep, 2023CBDT has issued a circular extending the timelines for filing Form 10B/10BB for the previous year 2022-23 from 30 September 2023 to 31 October 2023, and, the due date for furnishing return of income in Form ITR 7 for the assessment year 2023-24 (in the case of assessees referred to in section 139 (1), clause (a) of explanation 2) from 31 October 2023 to 30 November 2023.
Income-tax (Twentieth Amendment) Rules, 2023
31 Aug, 2023CBDT has published its 20th Amendment Rules, to insert Rule 134 - Application under sub-section (20) of section 155 regarding credit of tax deduction at source.
CBDT notifies Rule for determination of value of perquisite
18 Aug, 2023The Ministry of Finance issued a press release that CBDT has notified Rule for determination of value of perquisite in respect of residential accommodation provided by employer.
Guidelines under Clause 10D of section 10 of Income Tax Act 1961
16 Aug, 2023CBDT has issued guidelines for removal of difficulties pertaining to clause (10D) of Section 10 (Incomes not included in the total Income) pertaining to tax exemption on the sum received under a life insurance policy, including any sum allocated by way of bonus on such policy subject to certain exclusions.
CBDT extends the time limits for submission of certain TDS/TCS Statements
28 Jun, 2023CBDT has issued a circular extending the due date for filing TDS/TCS statements in Form Nos. 26Q, 27Q & 27EQ for first quarter of FY 2023-24 to 30th September 2023..
Increased limit for tax exemption on leave encashment
24 May, 2023CBDT has published the notification increasing limit for tax exemption on leave encashment for non-government salaried employees.
Due date to file TDS Form 26Q extended to 30 Nov 22
27 Oct, 2022Central Board of Direct Taxes, has extended the due date to file the Form 26Q for the second quarter of FY 22-23 from 31 October 2022 to 30 November 2022.
Extension of due date for furnishing return of income AY 2022-23
26 Oct, 2022The Central Board of Direct Taxes extends the date of furnishing of Return of Income under section 139 (1) of the Income Tax Act for the Assessment Year 2022-23, which is 31 October 2022 in the case of assessees referred in clause (a) of Explanation 2 to sub-section (I) of section 139 of the Act, to 07 November 2022.
Guidelines for Compounding of Offences under Income Tax Act, 1961
17 Sep, 2022With a view to decriminalise certain offences & to facilitate compounding of offences under the Income-tax Act, 1961, CBDT issues fresh guidelines dated 16.09.2022.
Additional Guidelines under section 194R (2) of Income Tax Act
13 Sep, 2022CBDT has issued some more clarifications vide its circular relating to sub-section (2) of section 194R on issues which will help to remove difficulties in implementation of this provision.
Guidelines on perquisites under section 194R (2) of the Income Tax Act
16 Jun, 2022The Finance Act 2022 inserted a new section 194R in the Income-tax Act, 1961.