Weekly Tax Gyan(W-07)

Form 26AS and IAS Update

Form 26AS will only display TDS/TCS data starting with Assessment Year 2023–24, according to an update from the Income Tax Department and an annual information release. Other information such as advance tax, self-assessment tax, rebate, and so forth, would be accessible only in the AIS.

FAQs on PAN-Adhaar Link

The Income Tax Department has issued FAQs on the PAN-Aadhaar Link. The FAQs are provided in the link mentioned below.

https://www.incometax.gov.in/iec/foportal/help/e-filing-link-aadhaar-faq

Income Tax exemption to IBBI u/s 10(46)

CBDT notifies Exemption to Insolvency and Bankruptcy Board of India with respect to certain specified incomes. The exemption is provided u/s 10(46) with respect to specified incomes listed below.

(a) Grants-in-aid received from Central Government;

(b) Fees received under the Insolvency and Bankruptcy Code, 2016 (31 of 2016);

(c) Fines collected under the Insolvency and Bankruptcy Code, 2016 (31 of 2016); and

(d) Interest income accrued on (a), (b) and (c) above.