Income Tax on GPF accumulation beyond threshold limit: CGDA Clarification order dated 27.02.2023 र्यालय, रक्षा लेखा महानियंत्रक उलान बटा रोड, पालम, दिल्ली छावनी – 110010 Office of Controller General of Defence Accounts Ulan Batar Road, Palam, Delhi Cantt.- 110010 ABFU-4052/7/2020-PAYC-Part(1) Dated: 27.02.2023. To All Regional PCSDA/CsDA PCDA (QO) Pune PCDA (Navy) PCDA’s (AF) CDA (IT&SDC)…
Income Tax Calculator – Old Regime vs New Regime as proposed by Finance Bill, 2023: Incometax India Finance Minister Nirmala Sitharaman has in Budget 2023 announced slew of changes in income tax slabs under the new tax regime. The key changes announced on February 1, 2023, are: Changes in the income tax slabs under the…
Income-tax (First Amendment) Rules, 2023 – Forms ITR-1 SAHAJ, ITR-2, ITR-3, ITR-4 SUGAM, ITR-5, ITR-6, ITR-V and I-ITR Acknowledgement for AY 2023-2024: Notification No. 04/2023 dated 10.02.2023 MINISTRY OF FINANCE (Department Of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 10th February, 2023 G.S.R 91(E).—In exercise of the powers conferred by section 139…
Standard Deduction for tax calculation available on the gross salary of salaried employees: Rajya Sabha QA GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF REVENUE RAJYA SABHA UNSTARRED QUESTION NO. – 558 ANSWERED ON 07.02.2023 STANDARD DEDUCTION FOR TAX CALCULATION 5538. SHRI VIKRAMJIT SINGH SAHNEY: Will the Minister of FINANCE be pleased to state: (a)…
Filing of Income Tax Return (ITRs) by 18-35 years of Age group during FY 2022-23: Lok Sabha QA GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF REVENUE LOK SABHA UNSTARRED QUESTION NO. 609 TO BE ANSWERED ON MONDAY, FEBRUARY 06, 2023 /MAGHA 17, 1944 (SAKA) FILING OF INCOME TAX 609. SHRI RAM MOHAN NAIDU KINJARAPU:…
Alleged Harassment by Income Tax Authorities: Lok Sabha QA GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF REVENUE LOK SABHA STARRED QUESTION NO. 56 TO BE ANSWERED ON MONDAY, 06th FEBRUARY, 2023/ MAGHA 17, 1944 (SAKA) ALLEGED HARASSMENT BY INCOME TAX AUTHORITIES 56. SHRIMATI MAHUA MOITRA: Will the Minister of FINANCE be pleased to state:…
Frequently Asked Questions (FAQs) on e-Verification Scheme 2021 Annexure – A Frequently Asked Questions (FAQs) on e-Verification Scheme 2021 Note: The FAQs on the e-Verification Scheme, 2021 (hereafter ‘FAQs’) aim to provide general guidance in understanding the procedures and processes of the e-Verification Scheme, 2021 issued vide Notification no. 137/2021 dated 13.12.2021. These are presented…
Union Budget 2023-24: Finance Bill, 2023 – Rates of Income Tax, Rates of TDS on Salaries and Rebate under Section 87A FINANCE BILL, 2023 PROVISIONS RELATING TO DIRECT TAXES Introduction The provisions of Finance Bill, 2023 (hereafter referred to as “the Bill”), relating to direct taxes seek to amend the Income-tax Act, 1961 (hereafter referred to…
Extension of time limit for compliance to be made for claiming any exemption under Section 54 to 54GB of the Income-tax Act, 1961 (‘Act’) in view of the then-Covid-19 pandemic: CBDT Circular No 1 of 2023 F. No. 225/ 49/2021-ITA-II Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes *****…
Income Tax Demand Notice under section 143(1) due to mismatch of Tax credit for the Financial Year 2020-21 (AY 2021-22): PCDA(O) Pune O/o PCDA(O), Golibar Maidan, Pune Subject: Income Tax Demand Notice under section 143(1) due to mismatch of Tax credit for the Financial Year 2020-21 (AY 2021-22). ********* Your kind attention is drawn where…
Income-Tax Deduction from Salaries during the Financial year 2022-23 under Section 192 of the Income-Tax Act, 1961: CBDT Circular No. 24/2022 dated 07.12.2022 GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) CENTRAL BOARD OF DIRECT TAXES DEDUCTION OF TAX AT SOURCE- INCOME-TAX DEDUCTION FROM SALARIES UNDER SECTION 192 OF THE INCOME-TAX ACT, 1961 DURING…
Income Tax Act: Explanatory Notes to the Provisions of the Finance Act, 2022 – CBDT Circular No. 23/2022 dated 03.11.2022 CIRCULAR NO. 23/2022 No. 370142/48/2022-TPL Government of India Ministry of Finance Department of Revenue (Central Board of Direct Taxes) **** Dated the 3rd of November, 2022 EXPLANATORY NOTES TO THE PROVISIONS OF THE FINANCE ACT,…