The provisions of Finance Bill, 2023, relating to direct taxes seek to amend the Income-tax Act, 1961, to continue reforms in direct tax system through tax reliefs, removing difficulties faced by taxpayers and rationalization of various provisions.
Income Tax Rates
Rationalisation of Income Tax Slabs – Rajyasabha
Regarding whether Government is considering reduction or rationalisation of income tax slabs
Extension of timelines for filing of Income-tax returns – Year 2021-22
Circular No. 01/2022 F. No. 225/49/2021/ITA-IIGovernment of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Direct Taxes New Delhi, dated 11th January 2022 Subject: – Extension of timelines for filing of Income-tax returns and various reports of audit for the Assessment Year 2021-22– reg. On consideration of difficulties reported by the taxpayers and other stakeholders due […]
Exercising option for Deduction of TDS under old/New rates of Income Tax(2020-21)
Exercising option for Deduction of TDS under old/New rates of Income Tax(2020-21) No.G-26028/4/2020-CashGovernment of IndiaMinistry of Road Transport &Highways(Cash Section)Transport Bhawan, 1, Parliament Street, New Delhi 110001 Dated 15th May, 2020 CIRCULAR Subject : EXERCISING OPTION FOR DEDUCTION OF TDS UNDER OLD OR NEW RATES OF INCOME TAX FOR THE FY 2020-21 1. The new […]
Income-Tax Deduction from Salaries during the Financial Year 2019-2020
Income-Tax Deduction from Salaries during the Financial Year 2019-2020 F.No.275/192/2019-IT(B) Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes North Block, New Delhi the 5th March, 2020 CORRIGENDUM TO CIRCULAR NO.4 OF 2020 DATED 16.01.2020 Subject : Income-Tax Deduction from Salaries during the Financial Year 2019-2020 under Section 192 of […]