Charitable registration turns on predominant purpose and genuine activities, while incidental fees and related-party rent require supporting adverse m...
MAT book-profit adjustments exclude disallowances for exempt-income expenditure and demerger expenditure unless expressly listed under the statutory c...
Omitted specified domestic transaction provision invalidates related-party expenditure transfer-pricing references and assessments based on consequent...
The circular extends the due date for filing various audit reports under the Income Tax Act for the previous year 2023-24 (assessment year 2024-25) from September 30, 2024 to October 7, 2024 for assessees referred to in clause (a) of Explanation 2 to sub-section (1) of section 139. This extension is granted by the Central Board of Direct Taxes (CBDT) in exercise of its powers u/s 119 of the Income Tax Act, considering the difficulties faced by taxpayers and stakeholders in electronic filing of audit reports.
The circular extends the due date for filing various audit reports under the Income Tax Act for the previous year 2023-24 (assessment year 2024-25) from September 30, 2024 to October 7, 2024 for assessees referred to in clause (a) of Explanation 2 to sub-section (1) of section 139. This extension is granted by the Central Board of Direct Taxes (CBDT) in exercise of its powers u/s 119 of the Income Tax Act, considering the difficulties faced by taxpayers and stakeholders in electronic filing of audit reports.
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