central board of direct taxes

New Delhi: Consultants, professionals and individuals with income from businesses will now be able to opt for the old tax regime in the current financial year, according to a notification issued by the Central Board of Direct Taxes.The new…

NEW DELHI: The Centre’s gross direct tax collections have increased 12. 7% to a little under Rs 4. 2 lakh crore during the fiscal year up to June 17, on the back of healthy advance tax mop-up.Latest data released by the Central Board of…

India on Friday announced draft valuation rules for overseas investments into startups under the ‘angel tax’ regime, providing foreign investors greater flexibility in determining the fair market value of unquoted equity shares. The rules…

The income tax department on Friday invited comments from stakeholders on rules for valuing non-resident investment in unlisted startups. The Central Board of Direct Taxes (CBDT) has issued a draft notification inviting comments on the…

NEW DELHI: Maharashtra topped the list of states and Union Territories with the highest collection of direct taxes in 2021-22 followed by Delhi, Karnataka, Tamil Nadu and Gujarat, data released by the tax departmenton Thursday showed.The…

Last Updated: April 12, 2023, 08:13 ISTCheck Income Tax Rules That Have ChangedIf an employee fails to choose between the new and old tax regime, the employer will take the new income tax regime as default? Know moreThe Central Board of…

Representational image only. | Photo Credit: Twitter/@IncomeTaxIndia The Income Tax Department has notified the Cost Inflation Index for the current fiscal beginning April 2023, for calculating long-term capital gains arising from sale of…

NEW DELHI: The Income Tax Department on Wednesday said employers will have to seek details from employees about their preference for tax regime in the current fiscal and deduct TDSaccordingly.In case an employee does not intimate his/her…

The Central Board of Direct Taxes (CBDT) has entered into 95 Advance Pricing Agreements (APAs) in FY 2022-23 with Indian taxpayers, the highest ever APA signings in any financial year since the launch of the APA programme. This includes 63…

The government has decided to make the tax deducted at source (TDS) on winnings from online games applicable from April 1, instead of July 1 — a move that gaming companies have welcomed, saying it would reduce compliance burdens and…