Category: Direct Tax Laws

The central government vide notification dated 13th October, 2023 has extended the exemption to income tax under section 10 of the Income-tax Act, 1961 available to non profit organizations to the Maharashtra Council of Homoeopathy.

The central government has extended the exemption to income tax available to non profit organizations to the Chhattisgarh Rajya Beej Pramanikaran Sanstha (PAN AADAC3163E).

Deputy Director General (Tech Development Division), Unique Identification Authority of India (UIDAI) shall furnish such information that comes into his possession while performing his duties that shall be useful to the Central Board on Direct …

Read More "Deputy Director General (Tech Development Division), UIDAI notifies as one of the authorities with the obligation to share information with CBDT"

The notification lists various files, file formats, data types for different data fields that need to be reported, and various DQ rules that should be validated by RTA before submission of the data.

The notification lists various files, file formats, data types for different data fields that need to be reported, and various DQ rules that should be validated by Depository Institutions before submission of the data.

The agreement, outlined in various articles, is designed to promote the exchange of information relevant to the administration and enforcement of domestic tax laws in both India and Saint Vincent and the Grenadines. This exchange …

Read More "Tax Information Exchange Agreement between Republic of India and Saint Vincent and the Grenadines"

The new form ITR 7 shall be used to file returns w.e.f 1 April, 2023.

This notification shall be deemed to have been applied for assessment year 2023-2024 relevant to the financial year 2022-2023.

The due date for filing report of accountant for Assessment Year 2023-24 from the specified date under section 44AB is extended to 31St of December, 2023.

The Department has conducted a total of 450 cleanliness campaigns, out of which 331 campaigns have been conducted in the second week itself. Further, 14,444 redundant files were disposed of in this week. A total …

Read More "CBDT Special Campaign 3.0"

The amendment provides that the units of IFSC shall submit returns of remittances to the Principal Director General of Income-tax (Systems) or the Director General of Income-tax (Systems) and they shall specify the procedures, formats …

Read More "Income-tax Amendment (Twenty-fifth Amendment), Rules, 2023"

The central government has extended the exemption to income tax under section 10 of the Income-tax Act, 1961 available to non profit organizations to the pension fund, namely, the Stitching Pension funds ABP.