The Ministry of Finance in India recently issued a crucial update that impacts millions of taxpayers and businesses. On April 23, 2024, the Central Board of Direct Taxes (CBDT) released Circular No. 6/2024, which partially modifies the earlier Circular No. 3/2023. This update addresses the consequences of a Permanent Account Number (PAN) becoming inoperative under the Income-tax Rules, 1962,...
Budget – in – summary:
In ` lac Crore
Particulars
Budget Estimated
FY 2024-25
Estimated
FY 2023-24
Total Expenditure
47.65
44.90
Capital Expenditure
11.11
16.9% ↑
9.50
To be financed by
Tax revenue
26.02
(being 55% of total BE)
23.24
(being 52% of total expenditure)
Thus, the main focus is on infrastructure development that to be financed...
It has become a mandatory process to link your PAN with your Aadhaar. This is an important process because this will allow your income tax returns to be processed.
To provide some more time to the taxpayers, the date for linking PAN & Aadhaar has been extended to 30th June 2023, whereby persons can intimate their Aadhaar to the prescribed authority for PAN-Aadhaar linking without facing...