Breaking: Tax Audit Report filing due date extended to 7th October

The Income Tax Appellate Tribunal (ITAT), Delhi Bench ruled that the Assessing Officer can reopen assessment if he reason to believe any income chargeable to tax has escaped. Further, where reopening is sought of an assessment in a situation where the initial return is processed under Section 143 (1) of the Act, the AO can […]

The Central Board of Direct Taxes (CBDT) has vide Notification dated 31st March 2021 notified the new Income Tax Return (ITR) Forms which are applicable for the Assessment Year 2021-22. Vide above Notification the Board has notified the Income-tax (7th Amendment) Rules, 2021 which has amended the Income- tax Rules, 1962 in the following manner: […]