Category: Income Tax
Conditions to be fulfilled by original fund u/s 47(viiad) if resultant fund is Category III Alternative Investment Fund MINISTRY OF FINANCE(Department of Revenue)(CENTRAL BOARD OF DIRECT TAXES) Notification No. 80/2022 New Delhi, the 8th July, 2022 G.S.R.524(E).—In exercise of the powers conferred by sub-clause (iv) of clause (a) …
Deduction u/s 54. Assessee cannot be blamed for the delay in housing projects by the builder as sections 54 and 54F are beneficial provisions. In a recent judgment, ITAT has held that deduction u/s 54 can not be denied for the delay in housing projects by the builder …
CBDT specifies non-fungible token which shall not be considered as virtual digital asset MINISTRY OF FINANCE(Department of Revenue)(CENTRAL BOARD OF DIRECT TAXES) Notification No. 75/2022 New Delhi, the 30th June, 2022 (Income-tax) S.O.2959(E).––In exercise of the powers conferred by clause (a) of Explanation to clause (47A) of section …
CBDT notifies virtual digital assets excluded from the definition of virtual digital asset MINISTRY OF FINANCE(Department of Revenue)(CENTRAL BOARD OF DIRECT TAXES) Notification No. 74/2022 New Delhi, the 30th June, 2022 (Income-tax) S.O.2958(E).––In exercise of the powers conferred by proviso to clause (47A) of section 2 of the …
CBDT notifies Form No. 26QF TDS statement under section 194S for TDS on transfer of a virtual digital asset MINISTRY OF FINANCE(Department of Revenue)(CENTRAL BOARD OF DIRECT TAXES) Notification No. 73/2022 New Delhi, the 30th June, 2022 INCOME-TAX G.S.R.482(E).—In exercise of the powers …
CBDT revises jurisdiction of Chief Commissioner of Income-tax New Delhi and Mumbai MINISTRY OF FINANCE(Department of Revenue)(CENTRAL BOARD OF DIRECT TAXES) Notification No. 71 of 2022 New Delhi, the 28th June, 2022 (INCOME TAX) S.O. 2926(E).—In exercise of powers conferred by sub-sections (1) and (2) of section 120 …
Arms length price us 92C variation in wholesale trading up to 1% and 3 % in other cases to be deemed ALP for AY 2022-23 MINISTRY OF FINANCE(Department of Revenue) Notification No. 70/2022 New Delhi, the 28th June, 2022 S.O. 2928(E).—In exercise of the powers conferred by the …
Higher consumption of electricity by itself is not a ground to infer suppression of production by the assessee ABCAUS Case Law Citation ABCAUS 3603 (2022) (06) ITAT Important case law relied referred:Prinik Steels Private LimitedITO vs. Satyanarayan PareekCIT vs. Gajalaxmi Steel Pvt. Ltd.CIT vs. Khambhatta Family Trust In …
CBDT issues Guidelines / FAQs on TDS u/s 194S on transfer of a virtual digital asset (VDA) applicable from 1st July 2022 Circular No. 13 of 2022 F. No. 370142/29/2022-TPL (Part-I) Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes (TPL Division) …
CBDT guidelines / FAQs on TDS u/s 194R for providing any benefit or perquisite to a resident CBDT has issued Circular No. 12/2022 detailing guidelines / FAQs on applicability of TDS u/s 194R for providing any benefit or perquisite to a resident w.e.f 01.07.2022 Finance Act 2022 inserted …
