Income tax alert: Important updates for taxpayers
India Today
The CBDT has extended the last date for filing of Form No 10AB, relaxed provisions of ax Collected at Source (TCS) under Section 206C(1G) of IT Act, 1961, and entered into 62 Advanced Pricing Agreements (APA) in financial year 2021-22 with taxpayers.
The Central Board of Direct Taxes (CBDT) has made a number of important announcements for income taxpayers. The deadline for filing income tax returns (ITRs) is over but there are key provisions which taxpayers may look into.
The CBDT has extended the last date for filing of Form No 10AB, relaxed provisions of ax Collected at Source (TCS) under Section 206C(1G) of IT Act, 1961, and entered into 62 Advanced Pricing Agreements (APA) in financial year 2021-22 with taxpayers.
In consideration of difficulties in online filing of Form No. 10AB as stipulated in Rule 2C or 11AA or 17A of the Income-Tax Rules, 1962, the CBDT extended the last date for online filing of Form No. 10AB.
CBDT extends the last date for filing of Form No.10AB for seeking registration or approval under Section 10(23C), 12A or 80G of the IT Act,1961. The application for registration or approval in Form No. 10AB can be filed upto 30th September, 2022. Details in the Press Release. pic.twitter.com/SkMap3ciSt
CBDT entered into 62 Advanced Pricing Agreements (APA) in FY 2021-22 with taxpayers including 13 Bilateral and 49 Unilateral APAs.
The APA Scheme endeavours to provide certainty to taxpayers in the domain of transfer pricing by specifying the methods of pricing and the arm's length price of international transactions in advance for the maximum of five future years.
CBDT enters into 62 Advanced Pricing Agreements (APA) in FY 2021-22 with Indian taxpayers including 13 Bilateral & 49 Unilateral APAs. The progress in APA scheme reflects Govt’s resolve of fostering a non-adversarial tax regime and increasing EODB. Details in the Press Release pic.twitter.com/Y7lInQx9oK
