Method of calculation of the eligible investment and exempt income in respect of Sovereign Wealth Fund and Pension Fund u/s 10(23FE)
CBDT has made amendment of the Income tax Rules, 1962 for providing the method of calculation of the eligible investment and exempt income in respect of Sovereign Wealth Fund and Pension Fund under section 10(23FE) of the Income tax Act, 1961.
Income-tax Amendment (Thirteenth Amendment) Rules, 2022 notified by CBDT vide Notification No. 50/2022 has inserted a new Rule 2DCA as under:
Further, Form No. 10BBB of Intimation by Pension Fund of investment under clause (23FE) of section 10 has also been substituted.
Under percentage completion method, selling/Admin costs are allowable despite no revenue declared as per guidance note of ICAI. In a…
AO cannot use reverse computation of gross payment using TDS amount to determine the amount disallowable u/s 40(a)(ia) - ITAT…
Once loans were repaid in subsequent assessment years with cogent evidences then the addition u/s 68 of the Income Tax…
Viksit Bharat Guarantee for Rozgar & Ajeevika Mission (Gramin), In short VB-GRAM-G notified Government has notified Viksit Bharat Guarantee for…
Once PCIT restores assessment to AO for denovo consideration, AO is obliged to independently apply mind without influenced by the…
When value of items traded differs it cannot be taken as basis for computing the stock position specially when quantitative…