Extension of Timelines for filing of Income Tax Returns for AY 2024-25 by Certain Assesses

Income Tax Returns required to be filed by assesses referred to in clause (a) of Explanation 2 to subsection (1) of Section 139 has been extended from 31st October 2024 to 15th November 2024.

Tax Deduction and Collection Account Number (TAN)

Tax Deduction or Collection Account Number or TAN is a 10-digit alphanumeric number required to be obtained by all persons who are eligible for deducting or collecting tax

Permanent Account Number (PAN)

Permanent Account Number (PAN) is a ten-digit alphanumeric number, issued in the form of a laminated card, by the Income Tax Department, to any “person” who applies for it or to whom the department allots the number without an application.

Form 10CCB: Audit report under section 80-I(7)/80-IA(7)/80-IB/80-IC

An Assessee is required to furnish its annual audit report in Form 10CCB for claiming deduction

Form 13: Application by a person for a certificate under section 197 and/or section 206C (9)

Form 13 consists of an Application by a person for a certificate under section 197 and/or sub-section (9) of section 206C of the Income-tax Act, 1961, for no deduction of tax or deduction or collection of tax at a lower rate.

Procedure for making declaration & undertaking in Form-1 under DTVSV Rules

Director General of Income Tax (Systems), Bengaluru has further issued a Notification detailing the procedure for making declaration and furnishing undertaking in Form-1 under Rule 4 of The Direct Tax Vivad Se Vishwas Rules, 2024

Restoration of GST Returns data on the GST Portal

In light of requests received from the trade due to difficulties faced, the data has been restored on the portal

Master Circular on surveillance of securities market

SEBI has been issuing various circulars from time to time pertaining to effective surveillance of the securities market. A Master Circular in the form of a compilation of provisions of all the relevant circulars, was last issued on this subject on March 23, 2023

Corrigendum to Rules and Forms for Direct Tax Vivad Se Vishwas (DTVSV) Scheme, 2024

On September 27th, 2024, the Government of India, Ministry of Finance, Department of Revenue, (Central Board of Direct Taxes) published a Corrigendum to the Rules and Forms for Direct Tax Vivad Se Vishwas (DTVSV) Scheme, 2024

Extension of Timelines for filing of various reports of Audit for Assessment Year 2024-25

Due Date to furnish Tax Audit Report in for FY 23-24 for following assessee has been extended from 30th September 2024 to 7th October 2024