Income Tax News
Non-resident taxpayers without PAN can file Form 10F manually till 30th September
Posted in Income Tax on 30 March 2023Non-residents not having PAN and not required to have it under the provisions of the Income-tax Act, 1961 to file Form 10F manually till 31st March 2023. The sa..
TDS on virtual digital assets aggregates to Rs 157.9 crore for FY 2022-23
Posted in Income Tax on 29 March 2023Direct tax deducted at source from transfer of Virtual digital Assets aggregates to Rs. 157.9 crore upto 20th March 2023 for FY 2022-23..
Last date for linking of PAN-Aadhaar extended to 30th June 2023
Posted in Income Tax on 28 March 2023In order to provide some more time to the taxpayers, the date for linking PAN and Aadhaar has been extended to 30th June, 2023, whereby persons can intimate the..
10 new income tax rules w.e.f 1st April 2023 for taxpayers
Posted in Income Tax on 28 March 2023There are many changes in the income tax rules effective from this financial year..
FM moves amendment to Finance Bill in Parliament to correct STT rate
Posted in Income Tax on 28 March 2023Finance minister Nirmala Sitharaman on Monday moved an amendment to the Finance Bill in Rajya Sabha to correct the figures with regard to rate of Security Trans..
Use of data analytics, big data and AI/ML in tax administration to make it more effective
Posted in Income Tax on 28 March 2023Both direct and indirect tax departments employ data analytics, big data and Artificial Intelligence/Machine Learning in tax administration to make it more effe..
TDS on all winnings from online gaming to come into effect from 1st April
Posted in Income Tax on 27 March 2023The TDS or tax deducted at source on online gaming applications will now be effective from 1 April, 2023 as against an earlier provision of 1 July, 2023...
Individual taxpayers with income marginally over Rs 7 lakh to get relief under new tax regime
Posted in Income Tax on 27 March 2023The government has provided additional relief to taxpayers under the new income tax regime by tweaking it so that those earning over the tax-free limit of Rs 7 ..
Credit card payments on foreign tours to be brought under LRS to ensure compliance with TCS
Posted in Income Tax on 27 March 2023Credit card payments for foreign travel will be brought under Reserve Bank’s Liberalised Remittance Scheme (LRS) to ensure that such expenses do not escape TCS ..
IT Department sends Rs 8 crore recovery notice to a labourer in Bulandshahr
Posted in Income Tax on 21 March 2023In a shocking incident, the Income Tax department sent a notice to a labour for recovery of Rs 8 crores. The person, who is a labour by profession, is a native ..
