CBDT forms an internal committee for full review of Income-Tax Act
The Union finance ministry on Monday invited public input and suggestions for a review of the Income-Tax Act, which was announced in this year’s Budget …
TDS deposit rules for employers relaxed from today (Oct 1)
In a major relief to the employers, the Centre has relaxed the rules for companies of depositing the Tax Deducted at Source (TDS) on salaries of employees. Employers will now …
Finance ministry releases new norms for handling delayed tax refund claims
The Ministry of Finance has released new guidelines for handling delayed tax refund claims and loss carry forward applications. The new guidelines issued on Tuesday increase the limit of tax …
Supreme Court ruling validates 90,000 income tax notices, ending prolonged dispute
In a verdict that will impact over 90,000 taxpayers, the Supreme Court on Thursday ruled that all income-tax notices served between April 1 and June 30, 2021 under the earlier …
I-T Act review: Govt to invite suggestions from industry next month
The government has proposed to invite suggestions on Income Tax Act, 1961, from the private sector and tax experts beginning October , as part of an excercise to simplify the …
TDS deposit rules for employers relaxed from Oct 1, 2024: Does this put employee’s TDS credit at risk?
The government has relaxed the rules related to companies depositing the TDS from salaries of employees. These rules relate to the time limit within which companies or deductors have to …
ICAI Stands Committed To Chartered Accountants’ Well-being; Forms A Group To Address Work-Life Balance & Stress Management
In the wake of recent incidents highlighting the tragic consequences of excessive work pressures faced by professionals, including Chartered Accountants, the Institute of Chartered Accountants of India (ICAI) reaffirms its …
Deadline for income tax audit report extended: What is the last date now?
The deadline to submit the income tax audit report has been extended to October 7 from September 30. Income tax audit report is required to be submitted online on the …
Hyderabad income tax raids uncover kickbacks in loan sales practices
Income tax authorities recently conducted raids on a direct selling agent (DSA) in Hyderabad, who assists with loan acquisitions for Non-Banking Financial Companies (NBFCs) and private banks. The investigation has …
Income tax simplification hopes rise as feedback process nears rollout; Budget 2025 may bring big news on direct tax laws
Expectations are rising that India might finally see the long-awaited simplification of its direct tax laws in the coming Budget …
