Use of Data Analytics, Big Data and AI/ML in Tax Administration
Discover how the Ministry of Finance is using data analytics, big data, and AI/ML to make tax administration more efficient and business-friendly.
Category: Income Tax
e-Verification Scheme Enhancing Voluntary Compliance: CBDT
The e-Verification Scheme 2021 by the Income Tax Department is an initiative to facilitate voluntary compliance and promote transparency. This article explains how the scheme works, its benefits, and …
IT Rules 16CC/17B and Forms 10B/10BB amended: CBDT Income Tax Notification 7/2023
The CBDT has notified the Income-tax (3rd Amendment) Rules, 2023, to amend IT Rules 16CC/17B and Forms 10B/10BB which shall be effective as of 01/04/2023, vide Income Tax Notification …
FAQs on Annual Information Statement (AIS)
FAQs on the Annual Information Statement (AIS), its components and how to view and submit feedback online. Stay compliant and informed.
Reduce Tax Burden: Understanding the Cost Inflation Index in India
Get a comprehensive understanding of the Cost Inflation Index (CII) in India, and learn how it impacts your capital gains tax liability. Stay updated and save on taxes today!
CBDT notifies New ITR Forms for AY 2023-24 (ITR 1 Sahaj, 2, 3, 4 Sugam, 5, 6, 7)
CBDT has notified new Income Tax Return (ITR) Forms in respect of Assessment Year (AY) 2023-24, i.e. ITR-1 Sahaj, ITR-2, ITR-3, ITR-4 Sugam, ITR-5, ITR-6 and ITR-7, vide Notifications …
ICAI Technical Guide on Expatriates Taxation (Revised 2023)
The ICAI has published the revised 2023 edition of the "Technical Guide on Expatriates Taxation" to clarify important international tax issues, like residential status, salary taxability, PF rules for …
CBDT’s 24 Clarifications/FAQs on e-Verification Scheme 2021
CBDT has released 24 clarifications through a set of FAQs on the e-Verification Scheme 2021, announced in Notification 137/2021, on the procedures and processes thereof.
ICAI Guide on TDS u/s 195, Forms 15CA/15CB: Withholding Taxes on Payments to Non-residents
The ICAI has published a Guide on Withholding Taxes (TDS) on Payments to Non-Residents under Section 195 of the Income Tax Act, 1961, and Forms 15CA and 15CB to …
Draft ICAI Guidance Note on Audit of Public Charitable Institutions u/s 12A Income Tax
The Institute of Chartered Accountants of India (ICAI) has released an exposure draft of the “Guidance Note on Audit of Public Charitable Institutions u/s 12A of the Income Tax …