News

The Union Finance Ministry is allegedly considering delaying the implementation of Rule 43B (h), which requires payments to MSMEs within 45 days.

MSME 45-Day Payment Rule: Proposed Changes causes Rifts among MSMEs Stakeholders

Circulars

CBDT has issued a Circular for filing of appeals by ITAT, High Courts and SLPs/appeals before Supreme Court-measures for reducing litigation.

CBDT issued Circular for Streamlining Appeals to reduce Litigation

IT Department reported an important achievement in the collection of pending dues for FY 2023-24, having collected Rs.73,500 crore by March 15.

Major Increase in Income Tax Recovery for FY 2023-24

IT Department discovered a network of 232 fake money changers and found tax evasion totalling Rs.1,000 crore through fraudulently created ITC under GST regime.

Income Tax Department unearthed network of 232 fake money changing companies evading Rs.1000 crore via fraudulent ITC claims

The Income Tax Return (ITR) Forms 1 and 4 are anticipated to be released in the First week of April 2024.

Income Tax Department releases JSON Schema For ITR-1 and ITR-4 for AY 2024-25

Orders

The Central Board of Direct Taxes (CBDT) has allowed the E-filing of Modified Returns for Successor Companies via issuing an Order.

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MSME 45-Day Payment Rule: Proposed Changes causes Rifts among MSMEs Stakeholders

CBDT issued Circular for Streamlining Appeals to reduce Litigation

Major Increase in Income Tax Recovery for FY 2023-24

Income Tax Department unearthed network of 232 fake money changing companies evading Rs.1000 crore via fraudulent ITC claims

Income Tax Department releases JSON Schema For ITR-1 and ITR-4 for AY 2024-25

CBDT allowed E-filing of Modified Returns for Successor Companies