CBDT extends due date for filing form 10A/10AB up to June 30
The extension was made considering the representations received by CBDT requesting for further extension of due date, and with a view to avoid genuine hardships to taxpayers.
The extension was made considering the representations received by CBDT requesting for further extension of due date, and with a view to avoid genuine hardships to taxpayers.
The Central Board of Direct Taxes (CBDT) clarified on Monday that the Income Tax Department is not carrying out any special drive to re-open cases on issues pertaining to HRA claims as has been reported in some sections of the media, triggering a scare among the taxpayers.
Similarly, companies have also been able to file their ITRs through ITR-6 from April 1 onwards.
In 2023, gross tax collections of Rs. 12.67 lakh crore mark a 17.7% YoY increase, with net collections reaching Rs. 10.64 lakh crore, reflecting a 23.4% growth.
Ministry of Finance has brought changes for the purposes of calculation of ‘perquisite’ with regard to the value of rent-free…
It has now been decided to extend the aforesaid date to August 15 from the earlier deadline of July 15.
The corrective measures are being taken based on feedback from taxpayers, tax professionals, and representatives of ICAI to provide taxpayers with a smooth e-filing experience.
The Finance Act, 2021 inserted a new Section 194Q in the Income-Tax Act, 1961, which took effect from July 1, 202I.
The functionality allows the tax deductor or collector to feed the single PAN (PAN search) or multiple PANs (bulk search) of the deductee/coIIectee, which can get a response if such deductee/collectee is a specified person.
A lot of measures have been taken to ease compliance burden and provide better taxpayer services, Mody said, adding that this got reflected in the tax collection for last fiscal.