Section 200A of the Income Tax Act is being amended to broaden ...

Budget: Income Tax Act amended to process statements like Form 26QF from entities other than deductors. Scheme to be formulated by Board.

Notes Bill

July 28, 2024

Section 200A of the Income Tax Act is being amended to broaden its scope for processing statements filed by entities other than deductors, such as Form No. 26QF filed by Exchanges where deductees file tax details. The Board will formulate a scheme for processing such statements. This amendment will take effect from April 1, 2025.

View Source

← Previous Next →

Section 200A of the Income Tax Act is being amended to broaden ...

Budget: Income Tax Act amended to process statements like Form 26QF from entities other than deductors. Scheme to be formulated by Board.

Notes Bill

July 28, 2024

You may also like:

Budget 2022-23 - PRUNING AND REVIEW OF CUSTOMS DUTY CONCESSIONS/ EXEMPTIONS - A detailed statement

PM’s statement to the media at Parliament House on the start of the Budget session

Relief u/s. 90 - Foreign Tax Credit (FTC) - In the instant case, the delay in filing of the FTC certificate in Form-67 was explained to be due to non receipt of the tax...

Clarification regarding processing of refund claims filed by UIN entities

Processing of refund applications for UIN entities - CGST - Circular

Centralized processing of statements of tax deducted at source (TDS returns) - hen the scheme itself envisages that the intimation must be issued so as to call for a...

Benefit of Direct Tax Vivad Se Vishwas Act 2020 - Correctness of revenue withdrawing the Form 3 declaration already issued in favour of the assessee - The scheme had...

Disallowance of credit for TDS - Rectification of mistake u/s 154 - As per order u/s 154 dated: 10.08.2018, the tax deductor of the appellant has withdrawn certain tax...

The Appellate Tribunal (ITAT) considered whether the Central Processing Centre (CPC) was justified in denying the benefit of the New Tax Regime to an individual taxpayer...

Denial of TDS credit post amalgamation and merger proceedings - scheme of arrangement approved by NCLT - assessee contended that due to the scheme of arrangement, the...

Addition u/s 68 - Unexplained cash deposits - statement of the assessee admitting the income at the time of survey - subsequent retraction made by assessee - it is not...

Benefit of accumulation of income u/s.11(2) - denial of claim on non-submission of Form No.10 along with return of income - In this case, the assessee claims that...

Amends Form 3CF, Form 10A, Form 10AB, Form 10BD and Form 10BE - Income-tax (Fourteenth Amendment) Rules, 2022 - Notification

SVLDRS - Rejection of petitioner’s declaration under Sabka Vishwas (Legacy Dispute Resolution) Scheme, 2019 - Since respondent No.4 had issued Form-2 indicating certain...

Penalty proceedings u/s 271FA - late filing of the SFT statement Online by the appellant - appellant opted for the Vivad Se Vishwas Scheme and paid the due amount - Form...

Quick Updates: