Notifications/Circulars |
Category : Income Tax |
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Central Tax-Central Tax Notification for waiver of the late fee
Posted Date : 24-Jan-2025 , 08:03:44 pm | Posted By: CASANSAAR
GOVERNMENT OF INDIA
MINISTRY OF FINANCE
(DEPARTMENT OF REVENUE)
CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS
NOTIFICATION No.
08/2025 – CENTRAL TAX
New Delhi, the 23rd January, 2025
S.O......(E).– In exercise of the powers conferred by section 128 of the Central Goods and Services Tax Act, 2017 (12 of 2017) (hereinafter referred to as the said Act), the Central Government, on the recommendations of the Council, hereby waives the amount of late fee referred to in section...
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Central Tax Notification to amend CGST Rules, Central Goods and Services Tax (Amendment) Rules, 2025
Posted Date : 24-Jan-2025 , 07:59:45 pm | Posted By: CASANSAAR
GOVERNMENT OF INDIA
MINISTRY OF FINANCE
(DEPARTMENT OF REVENUE)
CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS
NOTIFICATION No.
07/2025 – Central Tax
New Delhi, the 23rd January, 2025
G.S.R... (E). –In exercise of the powers conferred by section 164 of the Central Goods and Services Tax Act, 2017 (12 of 2017), the Central Government, on the recommendations of the Council, hereby makes the following rules further to amend the Central Goods and Services Tax Rules, 2017, n...
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Income Tax |
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Income-tax (First Amendment) Rules, 2025
Posted Date : 22-Jan-2025 , 06:51:49 pm | Posted By: CASANSAAR
MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF DIRECT TAXES)
NOTIFICATION
New Delhi, the 21st January, 2025
INCOME-TAX
G.S.R. 67(E).—In exercise of the powers conferred by section 295 read with the sub-section (1) of section 44BBC of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely:___
(1) These rules may be called the Income-tax (First Amendment) Rule...
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Income Tax |
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Seeks to amend Notification no. 01/2017- Central Tax (Rate)
Posted Date : 18-Jan-2025 , 08:05:57 pm | Posted By: CASANSAAR
GOVERNMENT OF INDIA
MINISTRY OF FINANCE
(Department of Revenue)
Notification No. 01/2025- Central Tax (Rate)
New Delhi, the 16thJanuary, 2025
G.S.R. ......(E).- In exercise of the powers conferred by sub-section (1) of section 9 and sub-section (5)of section 15 of the Central Goods and Services Tax Act, 2017 (12 of 2017), the Central Government, on beingsatisfied that it is necessary in the public interest so to do, on the recommendations of the Council, herebymakes the followin...
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Income Tax |
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Seeks to amend Notification no. 02/2017- Central Tax (Rate)
Posted Date : 18-Jan-2025 , 08:01:09 pm | Posted By: CASANSAAR
GOVERNMENT OF INDIA
MINISTRY OF FINANCE
(Department of Revenue)
Notification No. 02/2025- Central Tax (Rate)
New Delhi, the 16thJanuary, 2025
G.S.R. ......(E).- In exercise of the powers conferred by sub-section (1) of section 11 of the CentralGoods and Services Tax Act, 2017 (12 of 2017), the Central Government, on being satisfied that it is necessaryin the public interest so to do, on the recommendations of the Council, hereby makes the following furtheramendments in the notific...
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Seeks to amend Notification no. 39/2017- Central Tax (Rate)
Posted Date : 18-Jan-2025 , 07:55:17 pm | Posted By: CASANSAAR
GOVERNMENT OF INDIA
MINISTRY OF FINANCE
(Department of Revenue)
Notification No. 03/2025- Central Tax (Rate)
New Delhi, the 16 January, 2025
G.S.R......(E).- In exercise of the powers conferred by sub-section (1) of section 9 of the Central Goodsand Services Tax Act, 2017 (12 of 2017), the Central Government, on being satisfied that it is necessary in thepublic interest so to do, on the recommendations of the Council, hereby makes the following furtheramendments in the notifica...
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Income Tax |
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Seeks to amend Notification no. 08/2018- Central Tax (Rate)
Posted Date : 18-Jan-2025 , 07:49:40 pm | Posted By: CASANSAAR
GOVERNMENT OF INDIA
MINISTRY OF FINANCE
(Department of Revenue)
Notification No. 04/2025-Central Tax (Rate)
New Delhi, the 16 January, 2025
G.S.R. ......(E). -In exercise of the powers conferred by sub-section (1) of section 11 of the Central Goods andServices Act, 2017 (12 of 2017), the Central Government, on being satisfied that it is necessary in the publicinterest so to do, on the recommendations of the Council, hereby makes the following amendments in thenotification of ...
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Income Tax |
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Guidance Note 2/2024 on provisions of the Direct Tax Vivad se Vishwas Scheme, 2024 - reg.
Posted Date : 17-Dec-2024 , 06:21:34 pm | Posted By: CASANSAAR
Guidance Note 2/2024 on provisions of the Direct Tax Vivad se Vishwas Scheme, 2024 - reg.
The Direct Tax Vivad Se Vishwas Scheme, 2024 (hereinafter referred 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 the Scheme is to, inter alia, reduce pending income tax litigation, generate timely revenue for the Government and benefit taxpa...
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Income Tax |
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Tax Audit Report Filing Deadline Extended for AY 2024-25
Posted Date : 30-Sep-2024 , 08:23:39 am | Posted By: CASANSAAR
Central Board of Direct Taxes (CBDT) has decided to extend the specified date for filing of various reports of audit for the Previous Year 2023-24, which was 30th September, 2024 in the case of assessees referred in clause (a) of Explanation 2 to sub-section (1) of section 139 of the Act, to 07th October 2024.
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Income Tax |
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Extension of timelines for filing of Form 10B/10BB and Form ITR-7 for the Assessment Year 2023-24
Posted Date : 19-Sep-2023 , 08:25:17 am | Posted By: CASANSAAR
Circular No. 16/2023 :?Extension of timelines for filing of Form 10B/10BB and Form ITR-7 for the Assessment Year 2023-24...
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Govt notifies Cryptocurrency – Virtual digital assets under PMLA, 2002
Posted Date : 11-Mar-2023 , 07:42:41 am | Posted By: CASANSAAR
MINISTRY OF FINANCE
(Department of Revenue)
NOTIFICATION
New Delhi, the 7th March, 2023
S.O. 1072(E).—In exercise of the powers conferred by sub-clause (vi) of clause (sa) of sub-section (1) of section 2 of the Prevention of Money-laundering Act, 2002 (15 of 2003) (hereinafter referred to the as the Act), the Central Government hereby notifies that the following activities when carried out for or on behalf of another natural or legal person in the course of business as an activit...
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Income Tax |
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Guidelines for removal of difficulties under sub-section (2) of section 194R of the Incometax Act
Posted Date : 17-Jun-2022 , 08:48:59 am | Posted By: CASANSAAR
Finance Act 2022 insetted a new section 194R in the Income-tax Act, 1961 (hereinafter referred to as "the Act") with effect from I" July 2022.
The new section mandates a person, who is responsib le for providing any benefit or perquisite to a resident, to deduct tax at source @ IO% of the value or aggregate of va lue of such benefit or perquisite, before provid ing such benefit or perquisite. The benetit or perquisite may or may not be convertible int...
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Income Tax |
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Cost Inflation Index for the Financial Year 2022-23
Posted Date : 17-Jun-2022 , 08:40:23 am | Posted By: CASANSAAR
S.O. 2735(E).In exercise of the powers conferred by clause (v) of the Explanation to section 48 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby makes the following further amendments in the notification of the Government of India, Ministry of Finance (Department of Revenue), Central Board of Direct Taxes, published in the Gazette of India, Extraordinary, vide number S.O. 1790(E), dated the 5th June, 2017, namely:- 2. In the said notification, ...
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testing testing
Posted Date : 24-May-2022 , 05:25:00 pm | Posted By: CASANSAAR
testing
...
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Income Tax |
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Delhi Govt includes Chartered Accountants & Income Tax Practitioners in Exempted category
Posted Date : 14-Jan-2022 , 09:14:48 am | Posted By: CASANSAAR
On the specific request of CBDT, the offices of Chartered Accountants & Income Tax Practitioners have been included in the Exempted Category as prescibed in DDMA's GRAP Order No. 460 dated 08.08.2021....
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Income Tax |
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Launch of new E-filing Portal of the Income Tax - Non-availability of e-Filing services from 01.06.2021 to 06.06.2021
Posted Date : 20-May-2021 , 09:33:31 am | Posted By: CASANSAAR
The Income Tax Department is going to launch its new E-filing portalwww.incometax.gov.inon June 7th, 2021. In preparation for this launch and for migration activities, the existing portal of the Department atwww.incometaxindiaefiling.gov.inwould not be available for a brief period of 6 days from1stJune to 6thJune 2021....
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Income Tax |
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PAN Aadhaar linking & section 148 notice issue date extended
Posted Date : 03-Apr-2021 , 09:07:28 am | Posted By: CASANSAAR
S.O. 1432(E).—In exercise of the powers conferred by sub-section (1) of section 3 of the Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act, 2020 (38 of 2020) (hereinafter referred to as the said Act), and in partial modification of the notification of the Government of India in the Ministry of Finance, (Department of Revenue) No.93/2020 dated the 31st December, 2020, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (ii), vide numb...
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CBDT notifies New Form 15E and rule 29BA
Posted Date : 18-Mar-2021 , 08:39:45 am | Posted By: CASANSAAR
G.S.R. 194(E).—In exercise of the powers conferred by section 195 read with section 295 of the Income- tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes, hereby, makes the following rules further to amend the Income-tax Rules, 1962, namely:-...
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Income Tax |
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Income-Tax Authorities- Amendment in Notification No. 66/2014
Posted Date : 18-Mar-2021 , 08:36:56 am | Posted By: CASANSAAR
S.O. 1225(E).—In exercise of the powers conferred by sub-section (I) and sub-section (2) of section 120 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following amendment in the notification of the Government of India, Ministry of Finance, Central Board of Direct Taxes, No.66/2014 dated 13th November, 2014 published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (ii) vide No. S.O. 2907(E), dated 13th November, 2014, nam...
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Income Tax |
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Residential status of certain individuals under Income-tax Act, 1961
Posted Date : 05-Mar-2021 , 08:42:56 am | Posted By: CASANSAAR
Section 6 ofthe Income-tax Act, 1961 (the Act) contains provisions relating to determination of residency of a person. The status of an individual, as to whether he is resident in India or a nonresident or not ordinarily resident, is dependent, inter-alia, on the period for which the person is in India during a previous year or years preceding the previous year....
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Income Tax |
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Clarifications on provisions of the Direct Tax Vivad se Vishwas Act, 2020
Posted Date : 05-Dec-2020 , 09:51:34 am | Posted By: CASANSAAR
With the objective to reduce pending in‘orne tax litigation, generate timely revenue for the Government and benefit taxpayers by providing them peace of mind, certainty and savings on account of time and resources that would otherwise be spent on the long-drawn and vexatious litigation process, the Direct Tax Vivad se Vishwas Act, 2020 (hereinafter referred to as Vivad se Vishwas’) was enacted on 17th March, 2020....
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Income Tax |
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Income-tax Deduction from Salaries During the FY 2020-21 under section 192 of the Income-tax Act
Posted Date : 05-Dec-2020 , 09:49:20 am | Posted By: CASANSAAR
Circular No. 20/2020 :Income-tax Deduction from Salaries During the Financial Year 2020-21 under section 192 of the Income-tax Act, 1961...
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Income Tax |
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Instructions to the Income-tax Return Forms (ITR 1 to ITR 7) for A.Y. 2020-21
Posted Date : 24-Oct-2020 , 09:25:32 am | Posted By: CASANSAAR
Instructions to the Income-tax Return Forms (ITR 1 to ITR 7) for A.Y. 2020-21
* Instructions to ITR-1 SAHAJ for AY 2020-21
* Instructions to ITR-2 for AY 2020-21
* Instructions to ITR-3 for AY 2020-21
* Instructions to ITR-4 Sugam for AY 2020-21
* Instructions to ITR-5 for AY 2020-21
* Instructions to ITR-6 for AY 2020-21
* Instructions to ITR-7 for AY 2020-21...
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Order for extension of due date for filing ITRs for AY 2019-20 to 30.11.2020
Posted Date : 01-Oct-2020 , 10:17:25 am | Posted By: CASANSAAR
The date for furnishing of Income-tax returns under section 139 of the Income-tax Act, 1961 (' Act') for the Assessment Year 2019-20 was 31 st March, 2020. However, on consideration of difficulties being faced by the taxpayers due to COVID-19 pandemic, the said date was initially extended to 30th June,2020 and subsequently to 31" July,2020 and 30'h September,2020 vide the Taxation and other laws (Relaxations of certain provisions), Ordinance dated 31.03.2020, Notification No.35 ...
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Govt introduces Taxation Law Amendment Bill in Lok Sabha
Posted Date : 19-Sep-2020 , 09:44:43 am | Posted By: CASANSAAR
THE TAXATION AND OTHER LAWS (RELAXATION AND AMENDMENT OF CERTAIN PROVISIONS) BILL, 2020...
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Guidelines for compulsory selection of returns for Complete Scrutiny during the FY 2020-21
Posted Date : 18-Sep-2020 , 09:42:37 am | Posted By: CASANSAAR
Keeping in view of the Faceless Assessment Scheme,2020 implemented by the Department and the difficulties being faced amid COVID-19 pandemic, the parameters for compulsory selection of returns for Complete Scrutiny during Financial Year 2020-21 and conduct of assessment proceedings in such cases are prescribed as under:...
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Income Tax |
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​Amendment of Income-tax Rules for providing conditions and guidelines for Pension Funds u/s 10(23FE) of the Income-tax Act
Posted Date : 19-Aug-2020 , 10:10:57 am | Posted By: CASANSAAR
G.S.R. 508(E).—In exercise of the powers conferred by sub-clause (iii) of clause (c) of Explanation to the clause (23FE) of section 10 read with section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely:-...
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CBDT Releases Guidance on Mutual Agreement Procedure (MAP)​
Posted Date : 08-Aug-2020 , 09:41:42 am | Posted By: CASANSAAR
India has a large network of Double Taxation Avoidance Agreements (‘DTAAs’ or ‘Tax Treaties’, hereinafter) with various countries. The DTAAs, interalia, provide rules and mechanisms for allocation of taxing rights amongst the treaty partners; avoidance of economic and juridical double taxation; and resolution of taxation not in accordance with the treaty through the Mutual Agreement Procedure (‘MAP’, hereinafter)....
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CBDT Signs MOU with Ministry of MSME for sharing of data
Posted Date : 21-Jul-2020 , 08:35:48 am | Posted By: CASANSAAR
A formal Memorandum of Understanding (MOU) was signed today between the Central Board of Direct Taxes (CBDT) and the Ministry of Micro, Small and Medium Enterprises, Government of India (MoMSME) for sharing of data by CBDT to MoMSME. The MoU was signed by Smt. Anu J. Singh, Principal Director General of Income Tax (Systems), CBDT and Shri. Devendra Kumar Singh, Additional Secretary & Development Commissioner, MoMSME.
The MoU will facilitate seamless sharing of certain Income-tax Return (I...
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Clarification in relation to notification issued under clause (v) of proviso to section 194N of the Income-tax Act
Posted Date : 21-Jul-2020 , 08:32:31 am | Posted By: CASANSAAR
Section 194N of the Act as inserted by Finance (No.2) Act 2019 provided for deduction of tax at source on payment made by a banking company, a cooperative society engaged in the business of banking or post office, in cash to a recipient exceeding Rs. I crore in aggregate during a financial year from one or more account maintained by such recipient. Clause (v) of proviso to the said section had empowered the Central Government, in consultation with the Reserve Bank of India (RBI), to exempt by wa...
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