CBDT revises monetary limits for condonation applications for claiming refund or carry forward of losses and set-off for an application filed on or after June 01, 2023

A registered person whose registration was canceled on or before 31.12.2022 on account of nonfiling of returns and who- (a)failed to apply for revocation within the specified time period; or(b)whose appeal against the order of cancellation of registration or the order rejecting the application for revocation of cancellation of registration has been rejected on the …

Amnesty Scheme for Revocation of Cancellation of Registration Read More »

The Circular 6 of 2023 dt 24 May, 23 provides clarification on provisions related to charitable and religious trusts under the Income-tax Act, 1961. It outlines the amended provisions related to the registration and approval of trusts and extends the due date for making an application for registration/approval in certain cases. The circular also extends …

Clarification on Provisions for Charitable and Religious Trusts Read More »

The Indian Ministry of Finance’s Department of Revenue has announced an increase in the tax exemption limit for leave encashment for non -government salaried employees. Previously, the exemption limit was set at Rs.3 lakh under section 10(10AA) (ii) of the IT Act, 1961. However, Central Government has raised the limit to Rs.25 lakh, effective from …

Press Release on Increased Limit for tax exemption on leave encashment for non-government salaried Employees Read More »

This notification about e-Appeals Scheme, 2023 dt 29 May, 23 outlines various procedures and guidelines for filing appeals under different laws and regulations in India, including the Income Tax Act. It also discusses the consequences of non-compliance with the guidelines and the role of the appellate authority in resolving disputes. It covers the process of …

e-Appeals Scheme, 2023 Read More »