NOTIFICATION NO. 9/2023- CENTRAL TAX [S.O.1564(E)/F. NO. CBIC-20013/1/2023-GST], DATED 31-3-2023 In exercise of the powers conferred by section 168A of the Central Goods and Services Tax Act, 2017 (12 of 2017) (hereinafter referred to as the said Act) read with section 20 of the Integrated Goods and Services Tax Act, 2017 (13 of 2017), and section… Read More »
Circular No. 03/2023 : Consequences of PAN becoming inoperative as per the newly substituted rule 114AAA Dated 28th march 2023 Download Click here
List of banks for Income Tax payments e-Pay Tax service is now enabled for South Indian Bank with Over the Counter and Net Banking options. List of banks for tax payments
DSC update on Income Tax efiling website Alert : Version update of em-signer If you are facing issue (Something Went Wrong) in DSC, please follow below mentioned steps. 1. First uninstall the existing emBridge application and then download the latest application (Version 5.9.0.6 released on 20th Mar 2023) 2. To download: Visit to https://embridge.emudhra.com/ 3. Install… Read More »
New Income Tax Rules for PAN Aadhaar Link , Rule 114AAA Income tax Rules from 01.04.2023 MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 28th March, 2023 INCOME-TAX G.S.R.227(E).—In exercise of the powers conferred by section 139AA read with section 295 of the Incometax Act, 1961 (43 of… Read More »
Date Extended for Linking PAN with Aadhar till 30th june 2023 Last date for linking of PAN-Aadhaar extended Posted On: 28 MAR 2023 2:48PM by PIB Delhi In 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 their… Read More »
Changes in Income Tax w.e.f 01.04.2023 1) New income tax regime to be default regime From 1st April 2023, the new income tax regime will act as the default tax regime. Assessee will still be able to choose old Tax regime. If the Salaried and pensioners opt new Tax regime then standard deduction for taxable… Read More »
Non payment of Self Assessment Tax after filing ITR is not an offence : High Court The 1st petitioner company filed return of Income-tax admitting the tax liability of Rs. 38,00,170/-, but failed to make payment. However, on receiving notice dated 9-6-2016, in reply, the petitioners enclosed a challan for an amount of Rs. 50,55,310/-… Read More »
Income Tax on debt mutual funds from FY 2023-24 / AY 2024-25 Income Tax on debt mutual funds from FY 2023-24 / AY 2024-25 will be taxed based on whether Mutual Funds are i) Specified Mutual Funds ii) other than Specified Mutual Funds Capital Gains from Specified debt mutual funds will be taxed as short… Read More »
New Income Tax Relief , Income to be Taxed above 7 Lakh only in New Tax Regime The government has given a big relief to the taxpayers who have opted for the new tax regime. For this, amendments have been made in the Finance Bill. In the amendment, it has been provided that persons earning income slightly… Read More »