Category: Income Tax
Further extension likely as glitches in new e-filing portal expected to be fixed in next 2-3 weeks Glitches in new income tax e-filing portal expected to be fixed entirely in next 2-3 weeks – FM As per ANI, Finance Minister Nirmala Sitharaman has stated that the glitches faced …
CBDT transfers 497 Joint / Additional Commissioners of Income Tax CBDT has made transfers/posting of 497 Income Tax Officers in the grade of Joint / Additional Commissioners of Income Tax. The breakup of transfers made are as under: 170 Mandatory Transfer/Review Cases 123 Request Cases 184 Promotion cases …
Debentures issued in lieu of interest liability allowable expenditure u/s 43B read with Explanation 3C – Supreme Court ABCAUS Case Law CitationABCAUS 3541 (2021) (08) SC The appellant had filed a SLP raising the question with reference to Section 43B Explanation 3C of the Income Tax Act, 1961 …
For difference of receipts as per 26AS and books of account, only embedded portion of profits can be added to the income ABCAUS Case Law CitationABCAUS 3540 (2021) (08) ITAT In the instant case, the assessee had challenged the order passed by the CIT(A) in confirming the addition …
CBDT constitutes seven Interim Boards for Settlement of pending applications u/s 245A MINISTRY OF FINANCE(Department of Revenue)(CENTRAL BOARD OF DIRECT TAXES) Notification No. 91/2021 New Delhi, the 10th August, 2021 S.O. 3216 (E).—In pursuance of the powers conferred by sub-section (1) of section 245AA of the Income-tax Act, …
Income Tax Rule 10RB – Relief in tax payable u/s 115JB(1) due to operation of sub-section (2D) of section 115JB CBDT vide Notification No. 92/2021 dated 10th August 2021 has notified Income tax (23rd Amendment), Rules, 2021. A new Income tax Rule 10RB has been inserted to provide …
Income tax Amendment (22nd Amendment) Rules 2021. Rule 21AI & 21AJ – Determination and Computation of exempt income of specified fund u/s 10(4D) & 115AD(1A) CBDT has issued Notification No. 90/2021 dated 10th August 2021 to notify Income tax Amendment (22nd Amendment), Rules, 2021 to insert the following …
TDS on payment to advertising agency is covered u/s 194C not 194I. Contract need not always be in writing and could be implied also. ABCAUS Case Law CitationABCAUS 3539 (2021) (08) ITAT In the instant case, the assessee had challenged the order passed by the CIT(A) in confirming …
CBDT exempts income of RERA Himanchal Pradesh & National Council of Science Museum Kolkata u/s 10(46) In exercise of the powers conferred by clause (46) of section 10 of the Income-tax Act, 1961, CBDT has exempted specified income of Real Estate Regulatory Authority Himanchal Pradesh (PAN AAAGR1176F). (Notification …
The Taxation Laws (Amendment) Bill 2021 introduced in Lok Sabha to end retrospective tax The Government has introduced the Taxation Laws (Amendment) Bill 2021 to provide no tax demand shall be raised in future on the basis of the said retrospective amendment for any indirect transfer of Indian …
