The Central Board of Direct Taxes (CBDT) has issued a clarification in response to recent media reports hinting at a special initiative to reopen cases associated with House Rent Allowance (HRA) claims. The CBDT affirms that there is no such specialised effort to reopen cases involving mismatches, and assertions of…
Tag: Central Board of Direct Taxes
Elections
CBDT Enables Filing of Commonly Used ITRs from April 1, 2024
The Central Board of Direct Taxes (CBDT) has initiated the option for taxpayers to file their Income Tax Returns (ITRs) for the Assessment Year 2024-25 (pertinent to Financial Year 2023-24) starting from April 1, 2024. The commonly used ITR forms, comprising ITR-1, ITR-2, and ITR-4, are now accessible on the…
News
CBDT Offers Temporary Relief: Fostering Fairness, Supporting Institutions, and Ensuring Compliance
The Income Tax Act, of 1961, provides tax exemptions to eligible institutions like trusts, universities, and hospitals, enabling them to fulfil their critical societal roles. These exemptions are vital for the financial sustainability of these entities, allowing them to offer services, support communities, and maintain infrastructure without undue financial burdens….