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Income Tax – (Circular No. 19/2024) Guidance Note 2/2024 on Provisions of the Direct Tax Vivad se Vishwas Scheme, 2024 – REG., Dated 16.12.2024.
1. The Direct Tax Vivad Se Vishwas Scheme, 2024 (hereinafter referred to as 'DTVSV Scheme, 2024' or 'Scheme') has been enacted vide Chapter IV of Finance (No. 2) Act, 2024 to provide for dispute resolution in respect of pending income tax litigation. The objective of...
📢 Important Update for Taxpayers!
On October 26, 2024, the Central Board of Direct Taxes (CBDT) 📄 announced an extension for filing the Return of Income for Assessment Year (AY) 2024-25. This much-needed extension is designed to provide relief 🧘♂️ and ensure compliance with income tax regulations. 📅✅...
Income Tax – (Circular No. 12/2024) Guidance note 1/2024 on Provisions of the Direct Tax VIvad se Vishwas (DTVSV) Scheme, 2024
The Direct Tax Vivad Se Vishwas Scheme, 2024 (hereinafter referred to as DTVSV Scheme, 2024) has been enacted vide Chapter IV of Finance (No. 2) Act, 2024 to provide for dispute resolution in respect of pending income tax litigation. The objective of the Scheme is to,...
COMPANY LAW – (General Circular No. 03/2024)
The Ministry of Corporate Affairs has notified Limited Liability Partnership (Significant Beneficial Owners) Rules, 2023 vide G.S.R. No. 832(E) dated 09.11.2023 and has prescribed E-form LLP BEN-2 to file a Return to the Registrar in respect of declaration under...
INCOME TAX – (Circular No. 06/2024)
INCOME TAX - (Circular No. 06/2024) PARTIAL MODIFICATION OF CIRCULAR NO. 3 OF 2023 DATED 28.03.2023 REGARDING CONSEQUENCES OF PAN BECOMING INOPERATIVE AS PER RULE 114AAA OF THE INCOME-TAX RULES, 1962, dated 23.04.2024. Circular No. 3 of 2023 dated 28.03.2023...
Income Tax – (Circular no. 7/2024)
INCOME TAX – (Circular No. 7/2024) EXTENSION OF DUE DATE FOR FILING OF FORM NO. 10A/10AB UNDER THE INCOME-TAX ACT, 1961, dated 25.04.2024.
6 Years of GST: Centre’s Big Focus on Anti Evasion Measures; Industry Flags Unfinished Agenda
6 years into GST and the focus has shifted and how. The pendulum has swung from compensation issues and big rate rationalisations to curbing tax evasion & fake in voicing while industry clamours for clarity on basics.
CBDT Issues Clarification on PAN-Aadhaar Linking
The income tax department, on its official Twitter handle, has issued a clarification on PAN-Aadhaar linking for individuals facing difficulties in linking the same. The clarification has come just a few hours before the expiry of the deadline for linking PAN with...
I-T Dept Launches Tax-Evasion Probe Against Social Media Influencers
The income-tax department has launched a probe against certain social media influencers and content creators on platforms like YouTube and Instagram for allegedly not showing their income and profits commensurate with their earnings, official sources said on Thursday.
Income Tax Return (ITR) Filing: Exemptions and Deductions that Senior Citizens Can Claim
India's income tax law provides several tax benefits for senior citizens. A resident Indian who is 60 years of age or older is considered a senior citizen. Only residents of the country can avail of these special benefits.
