Blog tagged as Income Tax

TDS/TCS Filing Deadline Extended to 30th Sept for First Quarter of FY 2023-24

The CBDT has extended the due date for filing TDS/TCS statements in Forms 26Q, 27Q and 27EQ for the first quarter of the financial year 2023-24. Originally scheduled to be filed by July 15 or July 31, 2023, taxpayers now have until September 30, 2023, to submit these statements. This extension speci...

29.06.2023 11:00:00 AM - Comment(s)

CBDT amends rules pertaining to registration, approval & activities of Institutions, trusts & funds

By Nandhakumar & Sundaran

The amendments brought about by Notification No. 45/2023 – Income-Tax (Income-tax (Eleventh Amendment) Rules, 2023) encompass multiple provisions and rules within the Income-tax Act, 1961. The notification details changes to rule 2C, rule 11AA and rule 17A o...

26.06.2023 12:15:04 PM - Comment(s)

CBDT Notifies New Form 10IEA for Opting & withdrawing from New Tax regime for FY 23-24

By Nandhakumar & Sundaran

CBDT issued Notification No. 43/2023-Income Tax dated 21st June 2023 and notified New Form 10IEA for Opting & withdrawing from New Tax regime for FY 23-24. This notification introduces new rules to amend the Income-tax Rules, 1962. Here are the key provisions:

Rule 2BB: An employee who has exerci...

23.06.2023 09:50:10 AM - Comment(s)

The Income Tax Department has released JSON Schema ITR 1 and ITR 4 for AY 2023-24 (FY 2022-23)

By Nandhakumar & Sundaran

ITR 1: For individuals being a resident (other than not ordinarily resident) having total income upto Rs.50 lakh, having Income from Salaries, one house property, other sources (Interest etc.), and agricultural income upto Rs.5 thousand.

ITR 4: For Individuals, HUFs and Firms (other than LLP) being a...

12.04.2023 10:00:00 AM - Comment(s)

CBDT notifies Cost Inflation Index for Financial Year 2023-24

By Nandhakumar & Sundaran

The Cost Inflation Index for Financial Year 2023-24 at 348 vide Notification No. 21/2023-Income Tax Dated: 10th April, 2023. Cost inflation Index for Financial Year 2022-23 was 331 so Increase in Cost Inflation Index for FY 2023-24 is mere 5.14%.

11.04.2023 10:00:00 AM - Comment(s)

Blog tagged as Income Tax

TDS/TCS Filing Deadline Extended to 30th Sept for First Quarter of FY 2023-24

CBDT amends rules pertaining to registration, approval & activities of Institutions, trusts & funds

CBDT Notifies New Form 10IEA for Opting & withdrawing from New Tax regime for FY 23-24

The Income Tax Department has released JSON Schema ITR 1 and ITR 4 for AY 2023-24 (FY 2022-23)

CBDT notifies Cost Inflation Index for Financial Year 2023-24

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