Defined public benefit can retain charitable character; registration renewal requires examining genuine activities and legal compliance, not surplus a...
Capital reduction is distinct from share buy-back, preventing buy-back tax; restructuring interest and related business deductions also survive scruti...
Transfer pricing and tax deductions upheld on established principles, while employee contributions and warranty provisions returned for fresh examinat...
Captive transfer pricing relies on industrial consumer tariffs, while genuine quotations can benchmark effluent treatment transfers under the Other Me...
Specific tariff classification for ophthalmic instruments and extended limitation principles determine the treatment of duty demands, confiscation, an...
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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