Judgement

The reasons based on upon it the audit report was filed belated is explained by the assessee by filling a correct fact on record and the assessee immediately filed the audit report after getting rewriting the books of account and the reason placed on record are the genuine and it may happen to anyone and has to face technical bugs in the system and the delay based on that technical bug in filling the audit report is based on genuine reasons.

Delay in Filing Tax Audit Report as Tally Data got corrupted: ITAT finds reasonable cause and deletes penalty

SAP and IT support services are not in the nature of FTS hence not taxable in India: ITAT

TDS @ 2% u/s 194C to be deducted on payment of Common Area Maintenance charges: ITAT

Notifications

The Central Board of Direct Taxes(CBDT) has amended notified the Income Tax (3rd Amendment) Rules 2023 to amend  IT Rules 16CC/17B and Forms 10B/10BB via issuing Circular.

CBDT Amends Form 10B and Income Tax Rules 16CC/17B

Articles

Finance Minister has relieved individual taxpayers by giving a number of benefits to those who choose the new simpler tax system for the financial years 2023–2024.

New Income Tax Slabs 2023: Is the simplified tax regime really appealing?; Know Here

News

The Income Tax department conducted a 'survey' at BBC offices in Delhi and Mumbai in connection with an alleged tax evasion.

Income Tax Department carries out Survey Operations in Delhi and Mumbai

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