Category: Income Tax

In this blog post, I’m going to talk about TCS on foreign remittances and tour overseas packages. This is a complex topic, but I’ll try to explain it in a way that’s easy to understand. What is TCS? TCS stands...

Explore the key points and implications of CBDT’s Circular No. 16/2023 in our comprehensive guide. Understand the extended deadlines for filing Form 10B/10BB and ITR-7 for the Assessment Year 2023-24, and how it impacts taxpayers and stakeholders. Introduction The Central...

Explore the remarkable journey of CBDT’s Special Campaign 3.0, where Swachhata meets green initiatives, resolving grievances, and fostering change in India. Discover how this campaign is transforming the nation for the better. Introduction Section 1: The Success of Special Campaign...

Discover how the CBDT’s recent decision to grant income tax exemption to Real Estate Regulatory Authorities is reshaping the real estate sector in India. Explore the implications and benefits of this tax relief in our latest blog post. I. Introduction...

I. Introduction II. Body III. Conclusion IV. Here are some additional details that you can include in the article: 1. Introduction The Income Tax Department of India has recently launched a new e-filing portal, which has made it easier for...

The Implications of Delhi High Court’s Ruling on BIFR’s Tax Concessions Explore the Delhi High Court’s landmark ruling in the case of ‘DGIT Versus The Indian Plywood Mfg. Co.’, which clarifies the obligations of the Income Tax Department regarding tax...

Discover the latest ITAT ruling that could change the game for property sellers. Learn how to secure capital gains tax exemptions even when property agreements are inked well in advance. Dive into this must-read blog for essential insights and tax-saving...

The Central Board of Direct Taxes (CBDT) has operationalized the Boards for Advance Rulings (BAR) in Mumbai and Delhi. These Boards will now function through e-mail-based procedures and conduct hearings through video conferencing. This is in line with the CBDT’s...

New Telegraphic Transfer Buying Rate to be Used for TDS on Foreign Currency Payments The Central Board of Direct Taxes (CBDT) has amended Income Tax Rule 26, which sets the rate of exchange for the calculation of the value in...

How to Correct Errors in Income Tax Challans The Income Tax Department of India has introduced a new functionality to allow taxpayers to correct errors in challans pertaining to advance tax, self-assessment tax, and demand payment as regular assessment tax....