Taxation of Bitcoin & other Cryptos under the Indian law
In Raunaq Prakash Jain vs. Income Tax Officer, the ITAT Jodhpur held that Bitcoin and cryptocurrencies are capital assets and any profits made on their...
Direct Tax Vivad Se Vishwas (DTVSV) Scheme, 2024: CBDT has issued Guidance Note 2/2024 in the form of Frequently Asked Questions (FAQs) through Circular No. 19/2024, dated 16.12.2024
To address stakeholder queries and ensure clarity on the Direct Tax Vivad Se Vishwas (DTVSV) Scheme, 2024, CBDT has issued Guidance Note 2/2024 in the...
CBDT launches Electronic Campaign to address income and transaction mismatches for FY 2023-24 and FY 2021-22
As part of implementation of the e-Verification Scheme, 2021 , CBDT has launched an e-campaign to assist taxpayers in resolving mismatches between the income and...
CBDT Extends Due Date for furnishing Return of Income for Assessment Year 2024-25.
CBDT Extends Due Date for furnishing Return of Income for Assessment Year 2024-25. The due date for the assessees referred to in clause (aa) of...
CBDT’s PAN 2.0 Project to streamline and modernise process of issuing and managing PAN and TAN, making it simpler, more user-friendly and efficient
The Cabinet Committee of Economic Affairs (CCEA) has given approval for the PAN 2.0 Project, a transformative e-Governance initiative by the Income Tax Department. Key...
Income Tax Department has specified new time limit to apply for old income tax refunds
The recent CBDT circular has the new five-year limitation for condonation requests. However, this new time limit will apply to condonation requests made on or...
CBDT launches Compliance-Cum-Awareness Campaign for AY 2024-25 to assist taxpayers in accurately completing Schedule Foreign Assets and reporting income from foreign sources in ITR
The CBDT has launched a Compliance-Cum-Awareness Campaign for Assessment Year (AY) 2024-25 to assist taxpayers in accurately completing Schedule Foreign Assets and reporting income from...
Income tax department probing evasion of capital gains tax on joint development agreements
The Et reported that all landowners who had cut ‘joint development’ deals with builders are under the lens for skirting tax on capital gains. The...
Revised Guidelines for compounding offences under the Income-tax Act, 1961
CBDT issues Revised Guidelines for compounding offences under the Income- tax Act, 1961 ✅The Guidelines simplify the compounding process, reduce complexities from multiple existing guidelines,...
Amendments in Income-tax Rules for Ease in Claiming Credit for TCS Collected/TDS Deducted for Salaried Employees and for claiming TCS Credit of Minors in the Hands of Parents
CBDT Notifies Amendments in Income-tax Rules for Ease in Claiming Credit for TCS Collected/TDS Deducted for Salaried Employees and for claiming TCS Credit of Minors...