New Delhi: The Central Board of Direct Taxes (CBDT) has unveiled a new functionality in the Annual Information Statement (AIS), aimed at providing greater transparency and convenience to taxpayers. The AIS, accessible through the e-filing website (www.incometax.gov.in), furnishes details of various financial transactions with potential tax implications undertaken by the taxpayer. One of the key…
New Delhi: The Central Board of Direct Taxes (CBDT) has announced that taxpayers can now file their Income Tax Returns (ITRs) for the Assessment Year 2024-25, pertaining to the Financial Year 2023-24, starting from April 1, 2024. The ITR functionalities, including ITR-1, ITR-2, ITR-4, and ITR-6, commonly used by taxpayers, are available on the e-filing…
New Delhi: The Central Board of Direct Taxes (CBDT) has addressed concerns raised by various entities regarding the tax treatment of the balance 15% of donations made to other trusts or institutions, as stipulated by the Finance Act, 2023.
