Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
F. Acts / Amendment Acts - Highlights / Catch Notes

Home Highlights February 2025 Year 2025 This

The amendment introduces a temporal limitation on filing ...


Income Tax correction statements pertaining to Financial Year 2007-08 to 2018-19 shall be accepted only up-to 31st March 2025

February 21, 2025

Act Rules     F. Acts / Amendment Acts

The amendment introduces a temporal limitation on filing correction statements under section 200(3) of the Income-tax Act. Effective April 1, 2025, taxpayers must submit any correction statements within six years from the end of the financial year in which the original statement was due. Accordingly, correction statements pertaining to Financial Year 2007-08 to 2018-19 shall be accepted only up-to 31st March 2025.

View Source

 


 

You may also like:

  1. The Income Tax Act did not intend to tax deemed rental income from properties held as stock-in-trade prior to the assessment year 2018-19. Section 23(5), introduced from...

  2. Assessment u/s 153A - In the case on hand, the search was conducted on 10.08.2017 and the relevant six assessment years immediately preceding the assessment year...

  3. Reopening of assessment u/s 147 was challenged due to lack of material relating to alleged wrongful IGST refunds for assessment year 2020-21. Disallowable expenditure...

  4. INCOME-TAX DEDUCTION FROM SALARIES DURING THE FINANCIAL YEAR 2018-19 UNDER SECTION 192 OF THE INCOME-TAX ACT, 1961

  5. The assessee company is eligible to claim Foreign Tax Credit (FTC) against its Minimum Alternate Tax (MAT) liability u/s 115JB of the Income Tax Act for taxes paid in...

  6. Cost inflation index for the Financial Year 2018-19 notified as 280

  7. Validity of impugned Auction Notice - properties are brought for auction for non payment of tax and penalty of petitioner - only after a lapse of almost five years from...

  8. The case pertains to the treatment of income received from an arbitral award in the assessment year. The AO passed an assessment order u/s 143(3) after the case was...

  9. Income Tax: Time limit introduced for furnishing correction statements regarding TDS/TCS. No correction statement shall be delivered after expiry of six years from end...

  10. Constitutionality of Explanation to Section 10AA (1) - Exemption to SEZ unit - As principle of legitimate expectation is not applicable to the case of the petitioner and...

  11. Rates of Tax Collection at Source for the Financial Year 2018-19 - Rates of TDS and TCS

  12. Rate of Tax Deduction at Source (TDS Chart) with Threshold Limit for the Financial Year 2018-19 - Rates of TDS and TCS

  13. The Appellate Tribunal held that the assessment orders issued u/s 153C for the assessment years 2011-12 and 2012-13 were beyond the jurisdiction of the Assessing Officer...

  14. Disallowance of licence fee - Issue of cash system/mercantile system of accounting is not having any impact on the issue under consideration because the amount of...

  15. Refund of unutilized Input Tax Credit pertaining to compensation cess - the respondents are directed either to open GSTN portal enabling the petitioner to file its...

 

Quick Updates:Latest Updates