Tax Updates

The Indian government has been actively working on introducing new tax policies and regulations. *Tripura* has developed a *technology-based tax system* to increase transparency and efficiency. Furthermore, there have been changes to *corporate philanthropy*, with an increased compliance burden. For instance, the ministry of home affairs has notified the Foreign Contribution Regulation Amendment, which will affect corporations and NGOs. In other news, the *CBDT has exempted NCCL settlement funds from tax*, providing relief to eligible organizations. Moreover, there are updates on *income tax refunds*, with the IRS opening online filing for COVID tax refund claims ahead of the July 10 deadline. It is essential for individuals and organizations to stay informed about these updates to ensure compliance and take advantage of available relief.