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…
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…
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…
Reduction of time limit for verification of Income Tax Return (ITR) from within 120 days to 30 days of transmitting the data of ITR electronically: CBDT Notification No. 05 of 2022 Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes Directorate of Systems **** New Delhi, dated : 29.07.2022 Subject:…
ABC of Tax – Lets learn the basics : Everything about e-filing made easier Dear Individual Taxpayer, As we continue making e-Filing easier, faster and taxpayer friendly for you, here’s an e-Filing brochure that’ll help you understand the basics of ITR e-Filing and its importance. In the pages inside, we’ve broken down the processes involved…
Income Tax Demand Notice under section 143(1) due to mismatch of Tax credit for the Financial Year 2021-22 (AY 2022-23): PCDA Advisory No. 45 dated 14.07.2022 ADVISORY NO.: 45 Dated:- 14.07.2022 O/o PCDA(O) Pune, Public Relation office (PRO) Subject: Income Tax Demand Notice under section 143(1) due to mismatch of Tax credit for the Financial…
Compliance Check Functionality for Section 206AB & 206CCA of income-tax Act 1961: Income Tax Notification No. 01 of 2022 dated 09.06.2022 DGIT(S)/ADG(S)-2/Compliance Check/432/2021-22 Government of India Ministry of Finance Central Board of Direct Taxes Directorate of Income Tax (Systems) Notification No. 01 of 2022 New Delhi, 09th June, 2022 Compliance Check Functionality for Section 206AB…
Guidelines for compulsory selection of returns for Complete Scrutiny during the Financial Year 2022-23 – procedure for compulsory selection in such cases: FinMin Order dated 03.06.20222 F.No.225/ 81/2022/ITA-II Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes (ITA-II division) North Block, New Delhi, the 03rd June, 2022 To All Pr….
Implementation of Faceless Penalty (Amendment) Scheme, 2022: IT Notification No. 55/2022/F. No. 370142/51/2020-TPL(Part III) dated 27.05.2022 MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 27th May, 2022 (INCOME-TAX) S.O. 2426(E).—In exercise of the powers conferred by sub-section (2B) of section 274 of the Income-tax Act, 1961 (43 of…
Faceless Penalty (Amendment) Scheme, 2022: IT Notification No. 54/2022/F. No. 370142/51/2020-TPL(Part III) dated 27.05.2022 MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 27th May, 2022 (INCOME-TAX) S.O. 2425(E).— In exercise of the powers conferred by sub-section (2A) of section 274 of the Income-tax Act, 1961 (43 of 1961),…
Revised Instruction for constitution and functioning of Local Committees to deal with Taxpayers Grievances from High-Pitched Scrutiny Assessment: FinMin, CBDT F.No.225/10112021-ITA-ll Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes ******** Room No. 245-A, North Block, New Delhi, the 23rd April, 2022 To All Pr. CCsIT/DGsIT/Pr.CCIT(Exemption)/Pr. CCIT(International-tax) Madam/Sir, Subject: Revised…