Author: NewsTaxIndia

Cabinet approves eCourts Phase III for 4 years Posted On: 13 SEP 2023 3:32PM by PIB Delhi The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has approved the eCourts Project Phase III as a Central Sector Scheme spanning four years (2023 … Continue Reading →

Sovereign Gold Bond Scheme 2023-24 (Series II) – Issue Price Posted On: 08 SEP 2023 9:27PM by PIB Delhi In terms of Government of India Notification No.4(6)-B(W&M)/2023 dated June 14, 2023, Sovereign Gold Bonds 2023-24 (Series II) will be opened for subscription during the … Continue Reading →

The CBIC vide Notification No. 45/2023-Central Tax dated 06-09-2023 has introduced significant amendments through Notification No. 45/2023-Central Taxes dated September 6, 2023, pertaining to the CGST Rules for valuation of supplies in the realm of online gaming and casinos. The relevant part of notification is … Continue Reading →

Hon’ble ITAT in case of M/s. Feelings Vs PCIT (ITAT Panaji) Appeal No: ITA No. 149/PAN/2019 Date of Order: 01-09-2023 held that in case of Partnership Firm, Interest income cannot notionally be excluded while determining allowable of deduction of remuneration to partners. The relevant para … Continue Reading →

6.84 crore ITRs verified out of 6.98 crore ITRs filed for AY 2023-24 with over 88% of verified ITRs processed as on 5th Sept. 2023 More than 2.45 crore refunds for AY 2023-24 issued Posted On: 05 SEP 2023 6:29PM by PIB Delhi The … Continue Reading →

Hon’ble ITAT Delhi held in case of ITO Vs Essjay Enterprises (ITAT Delhi) Appeal No : ITA No. 2152/DEL/2013 Date of Order: 26/07/2023 that sale proceeds received from the sale of land is income derived from agricultural land which is exempt under Income Tax law. … Continue Reading →

CBDT Releases the 5th Annual APA Report CBDT records signing of 95 APAs in FY2022-23, the highest ever in any financial year since the launch of the APA programme CBDT also records highest 32 Bilateral Advance Pricing Agreements (BAPAs) signed in any financial year in … Continue Reading →

Operationalisation of the Board for Advance Rulings Posted On: 19 AUG 2023 12:35PM by PIB Delhi (View Source Documents) The Central Board of Direct Taxes constituted three Boards for Advance Rulings in September, 2021. Further, by Notification No. 07 of 2022, the Scheme of E-advance … Continue Reading →

Launch of Invoice Incentive Scheme “Mera Bill Mera Adhikaar” from 1st September, 2023 ‘Mera Bill Mera Adhikaar’ initiative to encourage culture of customers asking for invoices/bills for all purchases Posted On: 24 AUG 2023 7:58PM by PIB Delhi The Government of India, in association with … Continue Reading →

More than 6.62 crore subscribers under National Pension System (NPS) and Atal Pension Yojana (APY) Assets Under Management (AUM) under NPS and APY cross Rs. 10 lakh crore Posted On: 01 SEP 2023 3:32PM by PIB Delhi The number of subscribers under the National Pension … Continue Reading →