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Gross Direct Tax collections for FY 2021-22, as on 22.09.2021, at Rs. 6.46 lakh crore register a growth of 47% over collections of the corresponding period in the preceding year. Net Direct Tax collections at Rs. 5.71 lakh crore have grown at over 74% in the same period. https://t.co/5O4EkPJ9f4

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Circular No. 20/2022 : ​Extension of due date for furnishing return of income for the Assessment Year 2022-23

CBDT extends the due date of filing of Form 26Q for the second quarter of Financial Year 2022-23 from 31st October, 2022 to 30th November, 2022. Circular No. 21 of 2022 dated 27.10.2022 issued.

CBDT amends Rule 128 of the Income-tax Rules, 1962, providing major relief to taxpayers in the matter of claiming Foreign Tax Credit (FTC). The Statement in Form No. 67 can now be furnished on or before the end of the relevant Asstt Year. Notification No. 100/2022 issued.The pre-amended Rule required the FTC claim to be filed by the due date of furnishing the Income Tax Return. The amendment operates retrospectively so that this benefit is available to all FTC claims filed during the current Financial Year.