Category: Income Tax
Due date for filing ITRs for AY 2021-22 extended. CBDT gives extension of time limits of certain compliances under Income Tax Act Due date for filing ITRs for AY 2021-22 extended. CBDT has issued circular no. 09/2021 dated 20th May 2021 to provide relief to taxpayers by extending …
CBDT to launch new Income Tax E-filing website from 7th June 2021 The Income Tax Department is going to launch a new E-filing website i.e. www.incometax.gov.in on 7th June 2021. In preparation of the transition to the new system, the existing E-filing portal will not be available from …
CASS 2020 Cycle for income tax scrutiny of returns (ITRs) of A.Y. 2019-20 for current year – CASS 2020 Instruction No, 1 CBDT has finalised Computer Assisted Scrutiny Selection (CASS) 2020 Cycle for income tax returns (ITRs) of A.Y. 2019-20 for the current year. The CBDT has approved …
CBDT notifies the Indo-Infra Inc as Pension Fund u/s 10(23FE) in respect of eligible investment made by it in India on or before 31st day of March 2024 MINISTRY OF FINANCE(Department of Revenue)(CENTRAL BOARD OF DIRECT TAXES) Notification No. 67/2021 New Delhi, the 17th May,2021 (INCOME-TAX) …
CBDT notifies two sovereign wealth funds and three Pension Funds u/s 10(23FE) The CBDT has notified more sovereign wealth fund and Pension Funds under section 10(23FE) of the Income Tax Act 1961 (the Act) as the specified person for the purposes of the clause (vi) of clause (b) of …
CBDT appoints special court for the States of Tripura, Assam, Nagaland, Mizoram & Arunachal Pradesh for the purposes of section 84 of the Black Money Act MINISTRY OF FINANCE(Department of Revenue)(CENTRAL BOARD OF DIRECT TAXES)(Investigation Division-V) Notification No. 61/2021 New Delhi, the 11th May, 2021 S.O.1843(E).—In exercise of …
Disallowance of interest on partner’s capital u/s 40(b) restricted to net advances out of interest bearing funds ABCAUS Case Law CitationABCAUS 3503 (2021) (05) ITAT In the instant case, the assessee had challenged the order passed by the CIT(A) in deleting the addition made by the Assessing Officer …
Sale of property was long term capital gain as assessee held it from the date of advance payment and balance payment was only a follow up action ABCAUS Case Law CitationABCAUS 3502 (2021) (05) ITAT Important case law relied referredCIT vs A Suresh Rao 223 Taxmann 228 (Kar)Principal …
CBDT exempts hospitals etc. providing Covid treatment from receiving cash in excess of Rs. 2 lakhs limit u/s 269ST for the period from 01.04.2021 to 31.05.2021 on obtaining the PAN or AADHAAR of patient and payee MINISTRY OF FINANCE(Department of Revenue)(CENTRAL BOARD OF DIRECT TAXES) Notification No. 56/2021 …
CBDT notifies five sovereign wealth funds u/s 10(23FE) The CBDT has notified the following five sovereign wealth fund under section 10(23FE) of the Income Tax Act 1961 (the Act) as the specified person for the purposes of the clause (vi) of clause (b) of the Explanation 1 …
