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The team of Anti-Corruption Bureau has taken major action in the capital Jaipur. The team has arrested a chartered accountant taking 2 lakh cash. During interrogation, it came to light that the CA was taking this money for the income…
Common Offline Utility for filing Income-tax Returns ITR 1, ITR 2, ITR 3 and ITR 4 for the AY 2022-23 is released today on 23.05.2022. Source: https://www.incometax.gov.in/iec/foportal/downloads/income-tax-returns
The CBDT vide Notification No. 53/2022 dated May 10, 2022 has issued the Income-Tax Amendment (Fifteenth Amendment) Rules, 2022 to further amend the Income-Tax Rules, 1962 (“the IT Rules”), in order to notify the transactions and persons to quote Permanent…
Attention …………………..(PAN XXXXX……,X)Income Tax Department has identified certain high value information which does not appear to be in line with the Income Tax Return filed for Assessment Year 2021-22 (relating to FY 2020-21). You can view the information on compliance…
The Income Tax Department carried out a search and seizure operation on March 14, 2022 on a popular chain of educational institutes, running several schools and colleges at multiple locations in India and abroad. The search operation covered more than…
The Income Tax Department carried out search and seizure operations on 25.02.2022 on certain contractors executing contracts of Brihanmumbai Municipal Corporation (BMC), a prominent person and their close associates. In all, more than 35 premises in Mumbai have been covered…
Source Times of India dated 04.02.2022 The government wants new domestic companies to set up their manufacturing units in India fast and hence the concessional tax rate of 15% has been extended by a year till March, 2024, revenue secretary…
Source Link Companies can update tax returns within two years of the end of the assessment year under a new scheme proposed in Finance Bill 2022, but if any misuse is noticed, the government will limit its use to select…
By, CA. S S Quadri, B. COM (H), FCA, DIRM (ICA), ISA (ICA), MDBA, LLB, S S Quadri & Co., Chartered Accountants This write up is to know about NGOs in brief and its taxability in different aspects. NGO Stands…
Source : Press Release 28.08.2021 The Taxation Laws (Amendment) Act, 2021 (2021 Act), which received the assent of the President on the 13th August, 2021, has, inter-alia, amended the Income-tax Act, 1961 (Income-tax Act ) so as to provide that no…