User Guide for Submitting Response to Notices and Letters Received under e-Verification Scheme, 2021
Directorate of Income Tax (Systems) issued User Guide for Submitting Response to Notices and Letters Received under e-Verification Scheme, 2021…
Category: Income Tax
Important Update on TRACES portal
For the current financial year (F.Y. 2023-24), the functionality to file an application in Form 15E for lower or nil…
TAX CALCULATOR – OLD REGIME VIS-A-VIS NEW REGIME
Tax calculator for Individual/ HUF/ AOP/ BOI/ Artificial Juridical Person (AJP) as per section 115BAC as updated by Finance Act,…
Processing of returns of income
CBDT has issued an Order F. No. 225/132/2023/ITA-III under section 119 of the Income Tax Act, 1961 on 01.12.2023. Order…
Respond to intimation of past tax demands for faster refund processing, ask IT dept to taxpayers
To facilitate faster clearance of refunds for the 2022-23 fiscal, the income tax department on 23 September asked taxpayers to…
Guidance Note on Tax Audit under Sec. 44AB of the IT Act, 1961
The Direct Taxes Committee of the Institute of Chartered Accountants of India (ICAI) has taken an initiative of updating the…
FAQ’s for Form 27C
Question 1: Who is required to file Form 27C on E-filing portal, buyer or seller? Resolution: The Seller is required…
Inviting comments on the draft From No. 6C regarding inventory valuation
CBDT has released draft Form No. 6C (form for inventory valuation report). It is requested that all stakeholders as well as the general public may provide their suggestions / comments on draft Form No. 6C and send them at the email address ustp13@nic.in latest by 31.08.2023.
Exposure draft – Guidance note on Tax audit
Direct Tax Committee of ICAI has issued Exposure Draft – Guidance Note on Tax Audit u/s 44AB of the Income…
Quick Referencer for Tax Audit by ICAI
The Taxation Audits Quality Review Board department of the The Institute of Chartered Accountants of India (ICAI) has published QUICK…