As the due date of 31 October 2025 approaches, thousands of businesses and professionals under audit are anxiously waiting for clarity from the Central Board of Direct Taxes (CBDT). The big question — will the government extend the ITR filing deadline for audit …
The Central Board of Direct Taxes (CBDT) has officially notified the Income Tax Return (ITR) Form 2 for the Assessment Year 2025-26. This form applies to individuals and Hindu Undivided Families (HUFs) who do not earn income from business or profession. However, …
As per the notification, the Director General of Income Tax (Systems), with the approval of the CBDT, has mandated the electronic filing of the following forms prescribed in Appendix-II of the Income Tax Rules, 1962. In a significant move to …
Acknowledging the breach of natural justice, the Karnataka High Court set aside the impugned ex-parte order. The court directed the respondent to reconduct the appeal hearing. In a significant ruling, the Karnataka High Court has set aside an ex-parte order …
CBDT Specified Forms Prescribed in Appendix II of IT Rules 1962, to be Furnished Electronically under Sub-rule (1) & (2) of Income Tax Rules 1962. The Central Board of Direct Taxes (CBDT) has issued Notification No. 5/2024, which mandates the …
This corrigendum notification specifies about some key amendments in few of the schedules of the Vivad se Vishwas Rules 2024 Central Board of Direct Taxes (CBDT) has issued Notification No. 105/2024 dated 27 September 2024, serving as a corrigendum to …
The Direct Tax Vivad se Viswas Scheme 2024 was introduced through the Finance (No. 2) Act, 2024, with further provisions outlined in Notification No. 104/2024, G.S.R 584(E), issued on 20th September 2024. This scheme offers a simplified mechanism for settling …
To be eligible under Vivad se Viswas Scheme 2024 (VSV 2.0), tax disputes must be pending as of the cut-off date of July 22, 2024. One of the key benefits of settling disputes under VSV 2.0 is the waiver of …
CBDT Notification No. 39/2024 Dated 22 April 2024 In a recent development, the Central Board of Direct Taxes (CBDT), introduces pivotal changes to the Income-tax Act, 1961 vide its Notification No. 39/2024 Dated 22nd April, 2024. This notification reshapes the …
CBIC Notifies that the effective date for following the special procedure by registered persons engaged in manufacturing of Pan-masala, Tobacco and Tobacco products has been extended to 15 May 2023. In a recent development, the Central Board of Indirect Taxes …
CBDT Notification 34/2024 Dated 19 March 2024 In a new update, the Central Board of Direct Taxes (CBDT), through its Notification No. 34/2024 dated 19 March 2024, has issued a correction notice regarding its Notification No. 27/2024 dated March 5, …
CBIC Notification No. 4/2024 Dated 5th January 2024: Special Reporting Procedure Applicable to Manufacturers of Tobacco, Pan Masala etc Notification 4/2024: In a significant move to enhance transparency and compliance in the manufacturing sector under GST, the Central Government, exercising …
Central Government Specifies Dy Director General (Tech Development Dvn) UIDAI as Authority for Disclosure of Information Respecting Assessees: CBDT Notification No. 99/2023 Dated. 20 November 2023 The Central Board of Direct Taxes (CBDT) vide its Notification No. 99/2023 Dated. 20 …
Introduction The Central Board of Direct Taxes (CBDT) vide its Notification No.88/2023 Dated.10th October 2023 has notified some amendments in Rules 114B, 114BA and 114BB of the Income Tax Rules 1962. These Rules may be called the Income Tax (Twenty …
Extract of the Notification-79/2023 NBFC Classification for the Purpose of Section 43D: The Central Board of Direct Taxes (CBDT) has recently issued a crucial notification, Number 79/2023 dated September 22, 2023. This notification pertains to the classification of Non-Banking Financial …
Extract of the CBDT Notification-80/2023 The Central Board of Direct Taxes (CBDT) recently issued an important notification, Number 80/2023 dated September 22, 2023, pertaining to the classification of Non-Banking Financial Companies (NBFCs) for the purpose of clause (da) of section …