Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes ****** New Delhi, 25th April, 2024 Press Release The Central Board of Direct Taxes (CBDT), has issued Circular No. 07/2024 dated 25.04.2024 further extending the due date for filing Form 10A/ Form 10AB under the Income-tax Act, 1961 (the `Act`) upto […]
CBDT extends due date for filing Form 10A/10AB-Press Release by PIB Read More »
Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes ****** New Delhi, 08th April, 2024 Press Release CBDT clarifies on media reports claiming special drive to reopen cases with reference to HRA claims Certain instances of mismatch of information as filed by the taxpayer and as available with the Income
Government of India Department of Revenue Ministry of Finance Central Board of Direct Taxes New Delhi, 04th April, 2024 PRESS RELEASE Functionalities to file commonly used ITRs enabled by CBDT on 1st April, 2024 Central Board of Direct Taxes (CBDT) has facilitated taxpayers to file their Income Tax Returns (ITRs) for the Assessment Year 2024-25
Functionalities to file commonly used ITRs enabled by CBDT on 1st April, 2024 Read More »
Insertion of new section 8A. 153. In the Goods and Services Tax (Compensation to States) Act, 2017 (15 of 2017.), after section 8, the following section shall be inserted, namely: — Power not to recover cess not levied or short-levied as a result of general practice. “8A. Notwithstanding anything contained in this Act, if the Government
Amendment of section 7. 151. In the Union Territory Goods and Services Tax Act, 2017 (14 of 2017.) (hereinafter referred as the Union Territory Goods and Services Tax Act), in section 7, in sub-section (1), after the words “alcoholic liquor for human consumption”, the words “and un-denatured extra neutral alcohol or rectified spirit which is
Amendment of section 5. 147. In the Integrated Goods and Services Tax Act, 2017 (13 of 2017.) (hereinafter referred to as the Integrated Goods and Services Tax Act), in section 5, in sub-section (1), after the words “alcoholic liquor for human consumption”, the words “and undenatured extra neutral alcohol or rectified spirit used for manufacture
Amendment of section 9. 110. In the Central Goods and Services Tax Act, 2017 (12 of 2017.) (hereinafter referred to as the Central Goods and Services Tax Act), in section 9, in sub-section (1), after the words “alcoholic liquor for human consumption”, the words “and un-denatured extra neutral alcohol or rectified spirit used for manufacture
Amendment of Section 2 [Total Income” for the purpose of Taxation] 3. In section 2 of the Income-tax Act,— (a) in clause (22), with effect from the 1st day of October, 2024,— (I) after sub-clause (e) and before the long line, the following sub-clause shall be inserted, namely:— “(f) any payment by a company on
Amendment of Sections (Income Tax-Direct Taxes) under Finance Bill (No.2), 2024. Read More »
We will continue our efforts to simplify taxes, improve tax payer services, provide tax certainty and reduce litigation while enhancing revenues for funding the development and welfare schemes of the government. It has been our endeavour to simplify taxation. We have taken a number of measures in the last few years including introduction of simplified
I start with GST. It has decreased tax incidence on the common man; reduced compliance burden and logistics cost for trade and industry; and enhanced revenues of the central and state governments. It is a success of vast proportions. To multiply the benefits of GST, we will strive to further simplify and rationalise the tax
