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CBDT

Computer software error
Case BriefsSupreme Court

‘Technological impediment cannot be a reason for harassing assessee year after year’ Supreme Court directs IT Department to upgrade software

The Central Board for Direct Taxes was also directed to take necessary steps for rectifying the software as the issue may not be resolved by the Jurisdictional Assessing Officer.

Published on September 28, 2024October 4, 2024By Apoorva
Leave a comment2197 views
Relaxation on tax deductions
Legislation UpdatesNotifications

CBDT exempts TDS for IFSC Units

The provisions will come into force on 1-4-2024.

Published on March 14, 2024March 14, 2024By Kriti
Leave a comment2670 views
ministry of finance
Legislation UpdatesRules & Regulations

CBDT introduces Form No. 10-IEA for Application for exercise of option vide Income-tax (Tenth Amendment) Rules, 2023

On 21-6-2023, the Ministry of Finance notified the Income-tax (Tenth Amendment) Rules, 2023 to amend the Income-tax Rules, 1962. Key Points: Rule

Published on June 24, 2023June 24, 2023By Kriti
Leave a comment1787 views
ministry of finance
Legislation UpdatesRules & Regulations

CBDT revises Forms relating to Advance Ruling under Section 245 Q (1) of Income-tax Act, 1961

On 12-6-2023, the Ministry of Finance issued the Income-tax (Ninth Amendment) Rules, 2023 to amend the Income-tax Rules, 1962 (‘IT Rules’). The

Published on June 14, 2023June 13, 2023By Kriti
2 Comments2073 views
Legislation UpdatesRules & Regulations

CBDT introduces new form 69 for Application for re-computation of income under section 155(18) vide Income-tax (32nd Amendment) Rules, 2022

    On 28-09-2022, the Ministry of Finance has notified the Income-tax (32nd Amendment) Rules, 2022 which shall come into force from

Published on September 30, 2022By Bhumika Indulia
Leave a comment3631 views
Ministry of Finance
Legislation UpdatesStatutes/Bills/Ordinances

Ministry of Finance issues revised guidelines for compounding of offence under the Income -Tax Act, 1961

    On 16-9-2022 the CBDT has issued revised guidelines for compounding of offence under the Income-Tax Act, 1961 to simplify and

Published on September 21, 2022By Editor_4
Leave a comment2703 views
Legislation UpdatesRules & Regulations

New Form 29D introduced for Application by a person under S. 239A of the IT Act, 1961 vide Income-tax (26th Amendment) Rules, 2022

    The Central Board of Direct Taxes has notified Income-tax (26th Amendment) Rules, 2022 to amend Income-tax Rules, 1962. The amendment

Published on August 18, 2022August 18, 2022By Bhumika Indulia
Leave a comment2344 views
Legislation UpdatesNotifications

CBDT exempts non-resident from the purview of S. 206C(1G) of IT Act, 1961

    The Central Government has notified that the provisions of  section 206-C (IG) of the Income Tax Act, 1961 shall not

Published on August 18, 2022August 18, 2022By Bhumika Indulia
Leave a comment1624 views
Legislation UpdatesRules & Regulations

Application u/s 158AB to defer filing of appeal before Tribunal or jurisdictional High Court introduced vide Income-tax (Twenty Second Amendment) Rules, 2022

The Central Board of Direct Taxes notifies Income-tax (Twenty Second Amendment) Rules, 2022 to amend the Income-tax Rules, 1962. The amendment introduces

Published on July 14, 2022July 14, 2022By Bhumika Indulia
Leave a comment2345 views
Legislation UpdatesNotifications

CBDT specifies non fungible token as virtual digital asset

    The Central Government has specified a token which qualifies to be a virtual digital asset as non-fungible token within the

Published on July 2, 2022July 2, 2022By Bhumika Indulia
Leave a comment2096 views
Legislation UpdatesRules & Regulations

Time period for levy of compensation cess extended till March 31, 2026 vide GST (Period of Levy and Collection of Cess) Rules, 2022

On June 24, 2022, the Ministry of Finance has notified Goods and Services Tax (Period of Levy and Collection of Cess) Rules,

Published on June 27, 2022June 27, 2022By Bhumika Indulia
Leave a comment1899 views
Income Tax Appellate Tribunal
Case BriefsTribunals/Commissions/Regulatory Bodies

When can loss due to embezzlement be allowed as a deduction in computation of income tax? ITAT elucidates

Income Tax Appellate Tribunal (ITAT), Bangalore: The coram of N.V. Vasudevan (Vice President) and Padmavathy S. (Accountant Member), considered the instant appeal,

Published on June 22, 2022July 8, 2022By Editor_4
Leave a comment3097 views
Legislation UpdatesNotifications

CBDT notifies exemption of TDS on rent of ‘aircraft’ leased out by IFSC units on certain conditions

On 16th June, 2022, the Central Board of Direct Taxes (CBDT) has exempted TDS on lease rentals under Section 194-I of Income

Published on June 18, 2022June 18, 2022By Editor_4
Leave a comment3420 views
CBDT
Legislation UpdatesNotifications

Cost Inflation Index for Assessment Year 2023-24 updated

On 14th June, 2022, Central Board of Direct Taxes notified amendment in Notification S.O. 1790(E) of Income Tax Department, dated 5th June

Published on June 15, 2022June 15, 2022By Editor_4
Leave a comment4093 views
CBDT
Legislation UpdatesRules & Regulations

Income-tax (30th Amendment) Rules, 2021

The Central Board of Direct Taxes has notified the Income-tax (30th Amendment) Rules, 2021 vide notification dated 24th September, 2021. The amendment

Published on September 27, 2021September 27, 2021By Editor
Leave a comment1829 views
CBDT
Legislation UpdatesNotifications

No TDS under section 194A on interest payment to a member of scheduled tribe of specified areas under section 10(26) of IT Act

On September 17, 2021, the Central Board of Direct Taxes (CBDT)  has issued a notification  that no deduction of tax shall be

Published on September 21, 2021By Bhumika Indulia
Leave a comment2082 views
Legislation UpdatesNotifications

Extension of timelines under the Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act, 2020

On September 17, 2021, the Central Government extends timelines under the Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act,

Published on September 18, 2021September 18, 2021By Bhumika Indulia
Leave a comment4472 views
CBDT
Legislation UpdatesRules & Regulations

Income-tax (29th Amendment) Rules, 2021

On September 13, 2021, the Central Board of Direct Taxes notifies Income-tax (29th Amendment) Rules, 2021 to amend Income-tax Rules, 1962. The

Published on September 14, 2021September 14, 2021By Bhumika Indulia
Leave a comment1916 views
CBDT
Legislation UpdatesNotifications

CBDT extends due dates for filing of Income Tax Returns and various reports of audit for assessment year 2021-22

The Central Board of Direct Taxes (CBDT) has decided to further extend the due dates for filing of Income Tax Returns and

Published on September 10, 2021September 10, 2021By Bhumika Indulia
Leave a comment2574 views
Legislation UpdatesRules & Regulations

New provision introduced in Income tax Rules, 1962 prescribing manner of authentication of an electronic record under electronic verification code under section 144B

On September 06, 2021, the Central Board of Direct Taxes makes the Income-tax (26th Amendment) Rules, 2021 further to amend Income-tax Rules,

Published on September 7, 2021September 7, 2021By Bhumika Indulia
Leave a comment2402 views

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