News

The Income Tax Department recently took measures to address the issue of individuals neglecting to report additional income from side hustles on their Income Tax Returns.

Income Tax Department sent more than 1000 notices on Moonlighting Income for FY 20 and FY 21

Notifications

CBDT inviting comments on draft Form No. 6C for implementing amendment made by Finance Act 2023 wrt Sub-section (2A) of Sec 142 of IT Act 1961 regarding inventory valuation.

CBDT invites comments on draft Form No. 6C for implementing amendment regarding inventory valuation till 31st Aug 2023

The Central Board of Direct Taxes(CBDT) has notified Income Tax Rule 11UACA for Tax Calculation on Life Insurance Policy Amounts u/s 56(2)(xiii) of Income Tax Act 1961 via issuing Notification.

CBDT notifies Income Tax Rule 11UACA for Tax Calculation on Life Insurance Policy Amounts u/s 56(2)(xiii)

IT Department has issued a public warning about an increase in fraudulent messages circulating that are designed to trick taxpayers into disclosing sensitive information.

Income Tax Department flags concerns regarding an increase in misleading messages aimed at taxpayers

Circulars

The Central Board of Direct Taxes(CBDT) has issued Guidelines under clause (10D) of section 10 of the Income Tax Act 1961 via issuing Circular.

CBDT issued Guidelines under clause (10D) of section 10 of the Income Tax Act 1961

The Income Tax Department has finished its investigation into insurance companies and discovered tax fraud of more than Rs 15,000 crore.

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Income Tax Department sent more than 1000 notices on Moonlighting Income for FY 20 and FY 21

CBDT invites comments on draft Form No. 6C for implementing amendment regarding inventory valuation till 31st Aug 2023

CBDT notifies Income Tax Rule 11UACA for Tax Calculation on Life Insurance Policy Amounts u/s 56(2)(xiii)

Income Tax Department flags concerns regarding an increase in misleading messages aimed at taxpayers

CBDT issued Guidelines under clause (10D) of section 10 of the Income Tax Act 1961

IT Department finds alleged Tax Evasion worth Rs.15,000 crore by Insurance Companies