News

The Income Tax Department has enabled the Income Tax Returns Form ITR 1 and ITR 4 at the income tax e-filing portal in Online mode with prefilled data.

Income Tax Dept. enabled ITR-1 and ITR-4 for filing via Online mode at Portal

ITAT quashed re-opening of Amrita Jhaveri's case for both financial years (2005-06 and 2006-07) and addition of an income of Rs 2.3 crore, the rupee equivalent of the balances appearing in HSBC bank accounts in Geneva.

ITAT quashes Taxing of Swiss Account Funds of Non-Resident

Articles

Directorate of Income Tax (Systems) has issued a User Guide for Submitting Response to Notices and Letters Received under the e-Verification Scheme, 2021.

IT Dept. issued User Guide for Submitting Response to Notices Received under e-Verification Scheme

The Article discusses Proposed modifications to Rule 11 UA

CBDT to modify Income Tax Rule 11UA on Valuation of Shares

It has been decided that any payments made by an individual using their overseas debit or credit cards up to Rs 7 lakh per financial year will be exempt from TCS.

No 20% TCS on international Debit or Credit cards Transactions upto Rs 7 lakh: CBDT

TCS on Foreign Remittance: MOF releases FAQs clarifying the covered Transactions

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