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2 mins read
CBDT forms committee for IT Act review; 'sunset' clauses to be eliminated
Central Board of Direct Taxes (CBDT) chairman Agrawal said the committee is looking at the best glo…
PTI
1 min read
Provisions of TDS/TCS, in case of death of deductee or collectee relaxed by govt
On April 23, 2024, CBDT extended the date for linking of PAN and Aadhaar May for the taxpayers (for…
ANI
1 min read
After outrage, Govt clarifies: tax clearance certificate only for people with tax dues, high-value defaulters
As per section 230 of the Income-tax Act, 1961, every person is not required to obtain a tax cleara…
PTI
2 mins read
IT department declares 363 as cost inflation index for current fiscal
The Cost Inflation Index (CII) for fiscal year 2024-25 is 363, used by taxpayers to calculate long-…
PTI
2 mins read
CBDT exempts startup investments from 21 nations including US, UK from angel tax
India’s finance ministry has announced that non-resident investors in unlisted Indian start-ups fro…
PTI
1 min read
Central Board of Direct Taxes notifies cost inflation index for 2023-24
The cost inflation index (CII) for 2023-24 relevant to assessment year 2024-25 stood at 348, accord…
2 mins read
Two-thirds taxpayers likely to shift to new regime in 2023-24 itself: CBDT chief
The income tax rebate limit available for salaried and individual taxpayers under the new income ta…
ANI
1 min read
Pvt companies required to deduct tax at source while issuing bonus or rights shares
The implication of this clarification will be that a company in which public is not substant…
2 mins read
Non-residents will have to pay tax in India if transactions exceed ₹2 crore
Non-residents undertaking transactions with Indian parties will trigger taxability under the domest…
1 min read
The Income Tax department is sending out thank you notes- did you get one?
The certificates are sent to taxpayers who have cleared their entire liability and have no outstand…