Union Budget 2024-25: Simplification and Rationalisation of tax deducted at source (TDS) rates Simplification and Rationalisation of tax deducted at source (TDS) rates, Widening and deepening of tax base and anti-avoidance and Tax Administration: Union Budget 2024-25 (C) Simplification and Rationalisation C.1 Introduction of block assessment scheme for search and seizure cases: It is proposed…
Highlights of the Union Budget 2024-25: PIB The Union Minister of Finance and Corporate Affairs Smt. Nirmala Sitharaman presented the Union Budget 2024-25 in Parliament. The highlights of the budget are as follows: Part-A Budget Estimates 2024-25: Total receipts other than borrowings: `32.07 lakh crore. Total expenditure: `48.21 lakh crore. Net tax receipt: `25.83 lakh…
Union Budget 2024-25: Tax Relief and Revised Tax Slabs in New Tax Regime – Increase in Standard Deduction and Family Pension Deduction Ministry of Finance GOVERNMENT MAKES NEW TAX REGIME MORE ATTRACTIVE STANDARD REDUCTION INCREASED FROM ₹ 50,000 TO ₹ 75,000 SALARIED EMPLOYEE STANDS TO SAVE UP TO ₹ 17,500 Posted On: 23 JUL 2024…
Income Tax Day 2024 – A Journey of Transformation: Budget 2024-25 Introduces Enhanced Deductions and Revised Tax Slabs: FinMin Ministry of Finance Celebrating Income Tax Day 2024: A Journey of Transformation Budget 2024-25 Introduces Enhanced Deductions and Revised Tax Slabs Posted On: 23 JUL 2024 5:18PM by PIB Delhi What is Income Tax? Income tax…
Consideration of important issues of the Staff Side in the upcoming Budget 2024-2025: JCM writes to FM Shiva Gopal Mishra Secretary Ph.: 23382286 National Council (Staff Side) Joint Consultative Machinery for Central Government Employees 13-C, Ferozshah Road, New Delhi – 110001 No.NC-JCM/2024 Dated: June 21, 2024 Smt. Nirmala Sitharaman, Hon’ble Minister for Finance, (Government of…
Income Tax Exemption on Allowances available to armed forces u/s Section 10(14) r.w.r. 2BB Allowances available to armed forces [Section 10(14) r.w.r. 2BB] Personnel of the Armed forces is allowed various allowances for working in risky, uncongenial, and difficult situations. These allowances are generally fixed and don’t depend on the actual expenditure incurred by the…
Benefits for Senior Citizens and Super Senior Citizens under Income Tax Act, 1961: MoD (Army) HQ Order for education/ awareness of veterarns/ dependents C/7099/I-Tax/SAPCS/2024 24 May 2024. INTEGRATED HQ OF MoD (ARMY) /AG’s BRANCH PS DTE/ STANDING ARMY PAY COMMISSION SEGTION BENEFITS FOR SENIOR CITIZENS AND SUPER SENIOR CITIZENS UNDER INCOME TAX ACT, 1961 1….
Complaints raised by Sr. Citizen Savings Scheme Account Holders for deduction of TDS in the month of April 2024: Department of Posts Order dated 26.04.2024 FS-10/1/2022-FS-DOP Government of India Ministry of Communications Department of Posts (FS Division) Dak Bhawan, New Delhi -110001 Dated: 26.04.2024 To All Head(s) of the Circles Subject-Regarding complaints raised by Sr….
Guidelines for compulsory selection of returns of Income Tax for Complete Scrutiny during the Financial Year 2024-25 – Procedure for compulsory selection in such cases: CBDT Order dated 03.05.2024 F.No.225/72/2024/ITA-II Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes North Block, New Delhi, the 03rd May, 2024 To All Pr….
Partial modification of Circular No. 3 of 2023 dated 28.03.2023 regarding consequences of PAN becoming inoperative as per rule 114AAA of the Income-tax Rules, 1962: Circular No. 6/2024 Circular No. 6/2024 F.No. 275/4/2024-IT(B) Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi, THE 23rd April, 2024 Sub: Partial…
Income-tax (Fifth Amendment) Rules, 2024 for FORM ITR-V Income Tax Verification and Acknowledgement Form: IT Notification No. 37/2024 dated 27.03.2024 MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 27th March, 2024 G.S.R. 233(E).—In exercise of the powers conferred by section 139 read with section 295 of the Income-tax…
Deduction of Income tax for the FY 2024-25 – Guidelines emphasizing early start, arrears, proof submission, and system automation: PCDA Circular dated 06.03.2024 Principal Controller of Defence Accounts (Central Command) 1 Cariappa Road, Lucknow Cantt.— 226002 No. AN/Pay/1/Circular.2024-25 Date: 06.03.2024 To, The Officer in4 Charge All Section of Main Office All sub Office under the…