In the light of recent changes introduced in the Form 16, the Salary TDS Certificate, and Form 24Q (Salary TDS Return), the Government is likely to extend the due date for filing the income tax

This is the complete Income Tax compliance calendar for September 2023. Always remember the due dates to avoid unnecessary penalties. S.NO DATE1​Due date for deposit of Tax deducted/collected for the month of August, 2023. However, all

The Central Board of Direct Taxes (CBDT) has issued an order extending due dates for various compliance forms including the Quarterly statement in Form No. 15CC, Equalization Levy Statement in Form No.1, the Statement of

The Income Tax Appellate Tribunal (ITAT), Amritsar Bench has invalidated the rejection of the application for registration of Charitable Trust observing that the assessee was not offered a fair and reasonable opportunity of being heard.

The Income Tax Department enabled the filing of Form 10A for regular registration/approval of Assessment year 2022-23 vide Circular No.6 of 2023 dated 24th May 2023. The Form 10A is used by the charitable or

The Hyderabad bench of the Income Tax Appellate Tribunal (ITAT) recently ruled that the incriminating statements by third parties cannot be used for addition in Income Tax assessment. The  assessee Shantha Natarajan and Harish Bhatt

The Income Tax Department started raising queries on suspicious bank account deposits, including the deposits made in co-operative banks,post demonetization. Reportedly, the department could start summoning bank account holders in the coming month or two.

The Income Tax Department enabled the filing of Income Tax Returns (ITR)-3 in online mode with pre-filled data for the Assessment Year 2023-24 on 7th June 2023 in the income tax website. For those who

The Income Tax department has released the excel utility of ITR-3 for the Assessment Year 2023-24.  It is available for download on the official website of the Income Tax Department. Those who file income tax

In a significant move, the income-tax authorities have raised concerns about its tax implications for those who take up additional assignments outside their regular employment. Cautioning technology professionals about the tax implications, the authorities have

In response to a significant tax demand of Rs 8.26 crore, the Income Tax department has frozen the bank account of Mahila Utkarsh Pratishthan trust, which is under the supervision of Shiv Sena MP. The

The Income Tax Appellate Tribunal ( ITAT ) recently held that section 54 of the Income Tax Act 1961 are benevolent provisions therefore, requires liberal interpretation and the assessee is entitled to get the benefit

The Supreme Court in its recent judgement has held that assessment under Section 153A of the Income Tax Act, 1961 must be based on ‘incriminating’ material. Abhisar Buildwell P. Ltd, the assessee challenged the order

The Central Board of Direct Taxes (CBDT), on the income tax website, has enabled Excel Offline Utility for preparing and filing ITR-6 for AY 2022-23. “Excel offline Utility for preparing and filing ITR-6 for AY

As the New Financial Year (2023-24) will begin on April 1. For the last financial year( FY 2022-23), there are several duties that taxpayers should complete. Most taxpayers would have already finished all the tax-related