News

No Penalty is charged when you are reporting Income in ITR-U. However, penalty of upto 200% can be levied on Tax evaded if corrections are not made in ITR-U.

Last Chance to file Updated ITR for AY 2021-22: Be Ready to pay 200% of Tax Evaded if missed

The Income Tax Department has issued an important Clarification on Audit Report for all Taxpayers.

Income Tax gives important Clarification on Audit Report

The Income Tax Department has released the TDS Rate Chart for FY 24-25/AY 25-26.

TDS Rate Chart for FY 24-25/AY 25-26 as released by IT-Department [Download pdf]

The Amount involved in outstanding applications and cases filed by MSEs due to payment delays from their customers has surpassed Rs 20,000 crore.

MSME Amount Pending for Settlement crosses Rs.20,000 Crore

Notifications

The CBDT has notified amendment in Income Tax Notification to include section 43B(h) of the IT act disallowance under clause 22 of TAR via issuing a Notification.

CBDT Amends Income Tax Notification to include section 43B(h) of the IT act disallowance under clause 22 of TAR

The city's businessmen have resolved to take legal action against the implementation of Section 43B of the Income Tax Act.

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Last Chance to file Updated ITR for AY 2021-22: Be Ready to pay 200% of Tax Evaded if missed

Income Tax gives important Clarification on Audit Report

TDS Rate Chart for FY 24-25/AY 25-26 as released by IT-Department [Download pdf]

MSME Amount Pending for Settlement crosses Rs.20,000 Crore

CBDT Amends Income Tax Notification to include section 43B(h) of the IT act disallowance under clause 22 of TAR

Businessman move to court against MSME Payment rule 43B(h) of Income Tax