Category: Income Tax
CBDT extended due date for filing audit report u/s 10AA by units in SEZs for AY 2023-24 Circular No. 18 of 2023 F. No. 370142/40/2023-TPLGovernment of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Direct Taxes Dated the 20th October, 2023 Order under section 119 of the Income-tax Act …
CBDT amends rules for furnishing declaration in Form 60 by person not having PAN Under clause (c) of sub section 5 of Section 139A, every person is required to quote such PAN in all documents pertaining to prescribed transactions entered into by him. Rule 114BA provides for quoting …
CBDT clarifies on reporting of person making substantial contribution in Audit Report in Form 10B / 10BB for AY 2023-24. From Assessment Year 2023-24, audit report of charitable institutes is required to filed in Form 10B or Form 10BB. Audit report in the case of a fund or …
CBDT exempts income of District Mineral Foundation Trust u/s 10(46) MINISTRY OF FINANCE(Department of Revenue)(CENTRAL BOARD OF DIRECT TAXES) Notification No. 86/2023 New Delhi, the 4th October, 2023 S.O. 4342(E).— In exercise of the powers conferred by clause (46) of section 10 of the Income-tax Act, 1961 (43 …
CBDT notifies Form 10-IFA for exercise of option u/s 115BAE by new manufacturing co-operative societies The Finance Act, 2023, w.e.f. 1-4-2024 has inserted section 115BAE to provide for tax @ 15 percent on income of certain new manufacturing co-operative societies subject to fulfillment of prescribed conditions. The assessee, …
CBDT exempts income of Punjab Nurses Registration Council (PAN: AAABR0094H) u/s 10(46) for assessment years 2022-2023 and 2023-2024 MINISTRY OF FINANCE(Department of Revenue)(CENTRAL BOARD OF DIRECT TAXES) Notification No. 84/2023 New Delhi, the 29th September, 2023 S.O. 4265(E).—In exercise of the powers conferred by clause (46) of section …
In revision proceedings CIT cannot travel beyond the reasons given in the show-cause notice u/s 263 – Supreme Court dismisses SLP of the Department ABCAUS Case Law Citation:ABCAUS 3809 (2023) (09) SC Important Case Laws relied upon by parties:CIT vs. Amitabh Bachchan (384 ITR 200) (2016) In the …
No penalty u/s 271F as due to mistake of DDO wrong PAN was mentioned in 26AS and assessee was precluded from filing the return of income – ITAT ABCAUS Case Law Citation:ABCAUS 3808 (2023) (09) ITAT In the instant case, the assessee had challenged the order passed by …
Benefit of concessional rate of tax u/s 115BAA can not be denied on the premise that assessee has to file Form No. 10IC for each assessment year ABCAUS Case Law Citation:ABCAUS 3807 (2023) (09) ITAT In the instant case, the assessee had challenged the order passed by the …
CBDT notifies non-banking financial companies for the purpose of section 43D related to taxation of interest on bad or doubtful debts Section 43D of the of the Income Tax Act, 1961 (the Act) provides for the taxation of the interest income in relation to bad or doubtful debts …
