# cbdt
12 posts in `cbdt` tag
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Understanding the e-DRS: A Taxpayer's Guide
The tax dispute settlement procedure has been made simpler by a ground-breaking effort launched by the Central Board of Direct Taxes (CBDT). The e-Dispute Resolution Scheme (e-DRS) provides taxpayers with an easy-to-use and effective online platform to submit objections or appeals against tax orders or assessments. This blog post offers a thorough rundown of the main characteristics, advantages, and usage of the e-DRS. Find out how using the e-DRS to resolve tax disputes may save you money, time, and effort.
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By Krishna
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CBDT Launches New e-DRS Scheme: A Game-Changer for Tax Dispute Resolution
To expedite the resolution of tax disputes, the Central Board of Direct Taxes (CBDT) has launched the e-DRS (Electronic Dynamic Response System) program, a digital platform. The purpose, capabilities, and advantages for taxpayers of the e-DRS program are all explained in this blog article.
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By Krishna
CBDT's Latest Update on Income-Tax Clearance Certificate: What It Means for You
The Central Board of Direct Taxes (CBDT) has issued a clarification on the Income-Tax Clearance Certificate (ITCC), specifying the circumstances under which an individual is required to obtain one. This blog post breaks down the CBDT's clarification, explaining who needs an ITCC, when it's required, and the procedure to obtain one.
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By Krishna
Understanding Section 119 of the Income Tax Act: A Lifeline for Taxpayers
This blog post provides a detailed guide to Section 119 of the Income Tax Act, including its significance, guidelines for accepting or rejecting applications, monetary limits, and authorities responsible for dealing with these applications. It's a must-read for taxpayers and tax professionals looking to understand the intricacies of the Income Tax Act
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By Krishna
CBDT's Relaxation of TDS/TCS Provisions
The Central Board of Direct Taxes (CBDT) has introduced a relaxation in Tax Deduction at Source (TDS) and Tax Collection at Source (TCS) provisions for cases where the deductee or collectee has passed away before linking their Permanent Account Number (PAN) with Aadhaar. This relaxation provides relief to family members and heirs of deceased taxpayers who may be facing difficulties in obtaining the refund of excess TDS or TCS deducted or collected. In this blog, we will delve into the details of this relaxation and its implications on taxpayers.
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By Krishna
CBDT Mandates Electronic Filing of Appendix-II Forms
The blog post discusses the CBDT's mandate for electronic filing of Appendix-II forms under the Income Tax Rules, 1962, effective from April 1, 2024. It covers the electronic filing process, forms covered, benefits of electronic filing, and compliance requirements for taxpayers. The post aims to inform and guide taxpayers about the new mandate, helping them prepare for the upcoming changes and ensure timely and accurate filing of Appendix-II forms.
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By Krishna
CBDT Exempts RBI from Higher TDS Deduction under Section 206AB of Income Tax Act, 1961: A Comprehensive Analysis
This article explains the recent exemption of the Reserve Bank of India from higher TDS and TCS rates under sections 206CCA and 206AB of the Income Tax Act, 1961. It provides an understanding of the sections and their implications for the RBI and the Indian economy.
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By Krishna
Understanding the New Scrutiny Guidelines for ITRs (FY 2024-25)
The new scrutiny guidelines for ITRs (FY 2024-25) provide transparency in the tax department's functioning and bring in a data-driven approach for identifying cases for scrutiny assessment. This blog post demystifies the new scrutiny guidelines for ITRs (FY 2024-25) and provides a comprehensive guide for taxpayers to ensure that they are compliant with the tax laws and avoid any potential scrutiny.
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By Krishna
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CBTD Extends Registration: What You Need to Know
In this blog post, we'll discuss the recent extension of CBTD's registration and provide you with all the essential details you need to know. Whether you're a current or potential registrant, this post will give you insights into the latest updates and changes to CBTD's registration process.
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By Krishna
Taxman on High Alert: CBDT Cracks Down on Evasion with Transaction Reporting
In a move to strengthen tax compliance and curb evasion, the Central Board of Direct Taxes (CBDT) in India is mandating "reporting entities" like banks, fintech companies, and property registrars to submit details of all high-value transactions conducted during the financial year 2022-23. This blog post explains what this means, who it affects, and why the CBDT is taking this step.
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By Krishna
Understanding CBDT's Plan for 2024-25: What's Coming Up?
Discover the main points and requirements outlined in CBDT's interim plan for the 2024-25 fiscal year
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By Krishna
Important Update: Income Tax Department Announces Changes to ITR Verification Process
Taxpayers in India beware! The Central Board of Direct Taxes (CBDT) has tightened the noose on income tax return (ITR) verification. Starting April 1, 2024, you only have 30 days from filing your ITR electronically to verify it. Miss this deadline and your return could be considered invalid, potentially leading to penalties. This synopsis highlights the key points of the new rule, including the verification timeframe, process, and consequences of non-compliance.
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By Krishna