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)

The Ministry of Finance has appointed Shri Kamlesh Chandra Varshney and Shri Amarjeet Singh as Whole-Time Members of SEBI, for a period of 3 years from the date of assumption of charge of the post, or until further orders, whichever is earlier via issuing Notification.

Ministry of Finance appoints Shri Kamlesh Chandra Varshney and Shri Amarjeet Singh as Whole Time Members of SEBI

The Cabinet has approved signing and ratification of Mutual Recognition Arrangement between CBIC and Department of Home Affairs incorporating the Australian Border Force, Australian Government.

Govt. approves Mutual Recognition Arrangement of Authorised Economic Operators between India and Australia

Judgement

AAR Rajasthan has ruled out that No Advance Ruling to be pronounced when supply has already been made before seeking ruling.

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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)

Ministry of Finance appoints Shri Kamlesh Chandra Varshney and Shri Amarjeet Singh as Whole Time Members of SEBI

Govt. approves Mutual Recognition Arrangement of Authorised Economic Operators between India and Australia

No Advance Ruling to be pronounced when supply has already been made before seeking ruling: AAR