Category: Income Tax
CBDT Guidelines under clause (10D) section 10 of the Income-tax Act, 1961. Exemption to ULIP receipts Clause (10D) of section 10 of the Income-tax Act, 1961 provides for income-tax exemption on the sum received under a life insurance policy, including any sum allocated by way of bonus on …
CBDT has notified e-advance rulings Scheme, 2022 CBDT has notified e-advance rulings Scheme, 2022 vide Notification No. 07/2022. It comes into force from 18th January 2022. This Scheme shall be applicable to applications of advance rulings,– (a) made to the Board for Advance Rulings under sub-section (1) of …
Computation of capital gains for the purposes of sub-section (1B) of section 45 MINISTRY OF FINANCE(Department of Revenue)(CENTRAL BOARD OF DIRECT TAXES) Notification No. 8/2022 New Delhi, the 18th January, 2022 G.S.R. 24(E).—In exercise of the powers conferred by sub-section(1B) of section 45, read with section …
CBDT exempts income of Assam Electricity Regulatory Commission u/s 10(46) MINISTRY OF FINANCE(Department of Revenue)(CENTRAL BOARD OF DIRECT TAXES) Notification No. 5/2022 New Delhi, the 13th January, 2022 S.O. 193(E). In exercise of the powers conferred by clause (46) of section 10 of the Income-tax Act,1961 (43 of …
Determination of income of a specified fund attributable to the investment division of an offshore banking unit. CBDT notifies Income tax (1st Amendment), Rules, 2022. CBDT has notified two new Income Tax Rules (i) Rule 21AJA – Computation of exempt income of specified fund, attributable to the investment division …
CBDT vide Circular dated 11.01.2022 further extends due dates for filing of Income Tax Returns and various reports of audit for the Assessment Year 2021-22 CBDT Circular 01/2022 dated 11.01.2022 further extends due dates for filing of Income Tax Returns and various reports of audit for the …
One-time relaxation for pending verification of all income tax-returns ITRs e-filed for Assessment Year 2020-21 Circular No. 21/2021 F.No. 225/140/2021/ITA-11Government of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Direct Taxes New Delhi, dated 28th December,2021 Subject: One-time relaxation for verification of all income tax-returns e-filed for the Assessment …
Faceless Appeal Scheme 2021 notified by CBDT CBDT has notified revised Appeal Scheme 2021. Earlier, CBDT had notified the Faceless Appeal Scheme 2020 vide notification number S.O. 3296(E) dated 25th September 2020 and S.O. 3297(E) dated 25th September 2020 The Faceless Appeal Scheme 2021 prescribes the following procedures: …
CBDT notifies e-Verification Scheme 2021. CBDT has issued Notification No. 137 /2021 for the e-Verification Scheme, 2021. The Scheme has come into effect from 13th December 2021. Scope of the e-Verification Scheme 2021 The Scheme shall apply be in respect of: (i) calling for information under section 133 …
Omission to claim statutory deduction u/s 57(iv) is a mistake apparent from record, rectifiable under Section 154 In the instant case, the assessee had challenged the order passed by the CIT(A) in confirming the order passed by the Assessing Officer (AO) u/s 154 of the Income Tax Act, …
