The Central Board of Direct Taxes (CBDT) continues to shape India’s tax landscape, bringing more clarity to tax processes with the latest changes to the Income-tax (Eighth Amendment) Rules, 2024. In their Notification No. 112/2024, issued on October 15, 2024, significant modifications have been introduced to streamline tax deductions at source (TDS) and tax collection at source (TCS). These changes
CBDT Extends Form 10B/10BB Filing Deadline to November 10, 2024 In a significant and much-needed relief for organizations, the Central Board of Direct Taxes (CBDT) has extended the deadline for filing Form 10B and 10BB to November 10, 2024. This move comes as a response to concerns raised by trusts, institutions, and funds that were unable to meet the original
The Indian Income Tax Act, 1961, is one of the most significant and complex pieces of legislation governing taxation in India. Over the years, this Act has undergone multiple amendments, making it quite intricate. To simplify and modernize it, the Central Board of Direct Taxes (CBDT) has formed a committee aimed at conducting a comprehensive review. As part of this
