Category: Income Tax
CBDT specifies CDPQ Fixed Income XI Inc. as Pension fund u/s 10(23FE) in respect of eligible investment made on or before 31st day of March, 2024 MINISTRY OF FINANCE(Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) Notification No. 46/2021 New Delhi, the 4th May, 2021 (INCOME-TAX) …
CBDT relaxes PAN requirement for a non-resident eligible foreign investor making transaction only in a capital asset listed on a recognised stock exchange located in any IFSC and consideration paid in foreign currency MINISTRY OF FINANCE(Department of Revenue)(CENTRAL BOARD OF DIRECT TAXES) Notification No. 42/2021 New Delhi, …
Thresholds of Rs. 2 crores notified for the purposes of significant economic presence. CBDT notifies new Rule 11UD Rule 11UD MINISTRY OF FINANCE(Department of Revenue)(CENTRAL BOARD OF DIRECT TAXES) Notification No. 41 /2021 New Delhi, the 3rd May, 2021 INCOME-TAX G. S. R. 314(E).—In exercise of the powers …
CBDT extends deadlines of certain compliances by taxpayers deadlines to 31st May 2021 Circular No. 08/2021 F.N0.225/49/2021/ITA-IIGovernment of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Direct Taxes New Delhi, Dated 30th April, 2021 Subject: Extension of time lines related to certain compliances by the Taxpayers under the Income-tax Act …
Option to withdraw pending application u/s 245M(1) before settlement commission to be in Form No. 34BB. The Income-tax Settlement Commission has been abolished by the Finance Act 2021 with effect from 1st February 2021 and no application for settlement will be accepted from that date. MINISTRY OF FINANCE(Department …
Deduction u/s 80-IA of the Income Tax Act not limited to head ‘business income’ only. – Supreme Court. Sub section (5) limited to determination of quantum treating ‘eligible business’ as only source of income. ABCAUS Case Law CitationABCAUS 3499 (2021) (04) SC Important case law relied referred:Cloth Traders …
CBDT issues Notification for extension of deadlines for passing orders and issue notice under Income Tax Act MINISTRY OF FINANCE(Department of Revenue)(CENTRAL BOARD OF DIRECT TAXES) Notification No. 38 /2021 New Delhi, the 27th April, 2021 S.O. 1703(E).—In exercise of the powers conferred by sub-section (1) …
Liability to pay creditors does not ceases merely because assessee could not furnish confirmation of one creditor out of several parties ABCAUS Case Law CitationABCAUS 3498 (2021) (04) ITAT In the instant case, the assessee had challenged the order passed by the CIT(A) in confirming addition u/s 41(1) …
CBDT notifies Maa Umiya Temple managed by Vishv Umiya Foundation Ahmedabad u/s 80G of Income tax Act as place of artistic importance and a place of public worship of renown MINISTRY OF FINANCE(Department of Revenue)(Central Board of Direct Taxes) Notification No. 36 /2021 New Delhi, the 23rdApril, 2021 …
Income-tax (11th Amendment) Rules 2021. Conditions to be satisfied u/s 10(23FE) by pension fund MINISTRY OF FINANCE(Department of Revenue)(CENTRAL BOARD OF DIRECT TAXES) Notification No.37/2021 New Delhi, the 26th April, 2021 INCOME-TAX G.S.R. 291(E).—In exercise of the powers conferred by sub-clause (iii) of clause (c) …
