Tag: cbdt notification

Applicability of Transfer price under Rule 10TD declared by the assessee in respect of Safe Harbour transaction extended to AY 2021-22 MINISTRY OF FINANCE(Department of Revenue)(CENTRAL BOARD OF DIRECT TAXES) Notification No. 117/2021 New Delhi, the 24th September, 2021 INCOME-TAX G.S.R. 661(E).—In exercise of the powers conferred by …

  No TDS u/s 194A on interest payments up to Rs. 20 lakhs  to Scheduled Tribes by scheduled banks located in a specified area in North Eastern States and Ladakh Region   Sub-section (1F) of section 197A of the Income-tax Act, 1961 provides that no deduction of tax …

CBDT notifies two sovereign wealth funds u/s 10(23FE) CBDT has notified two sovereign wealth fund under section 10(23FE) of the Income Tax Act 1961 (the Act) as the specified person for the purposes of the clause (vi) of clause (b) of the Explanation 1 to clause (23FE) of section 10 …

CBDT extends due date for linking of Aadhaar and PAN. Timelines for passing penalty order under Income Tax Act / adjudication of Benami property  CBDT has extended the time limits for certain compliances under Income Tax Act 1961. Earlier The Taxation and Other Laws (Relaxation & Amendment of …

CBDT prescribes Income Tax Authority other than Assessing Officer who can also issue notice u/s 142(1)  CBDT has notified the Income-tax (29th Amendment) Rules, 2021. They shall come into force from the date of its publication in the Official Gazette. The amendment has inserted Rule 12F in the …

Deemed authentication under EVC under Faceless Assessment-CBDT Notification. Submission of an electronic record by logging into registered account in income tax efiling portal to be deemed authentication under EVC under Faceless Assessment.  Manner of authentication of an electronic record under electronic verification code under Faceless Assessment  Under sub-clause …

CBDT exempts income of Haryana Real Estate Regulatory Authority (RERA) u/s 10(46) CBDT has issued Notification No. 100/2021 dated 4th Sep 2021 exempting income of Haryana Real Estate Regulatory Authority (RERA) PAN: AAAJH0631G u/s 10(46) of the Income Tax Act 1961. The specified income exempted is as under: …

CBDT notifies Form 12BBA as declaration by senior citizens of the age of 75 years or more for claiming exemption from filing return of income u/s 194P Finance Act 2021 has inserted a new section 194P in the Income Tax Act 1961 to provide Relaxation for certain category …

Authority for Advance Rulings ceases and Board for Advance Rulings comes into effect from 1st September 2021.  MINISTRY OF FINANCE(Department of Revenue)(CENTRAL BOARD OF DIRECT TAXES) Notification No.97 /2021 New Delhi, the 1st September, 2021 S.O. 3562(E).—In exercise of the powers conferred by the second proviso to sub-section …

CBDT constitutes three Boards for Advance Rulings u/s 245-OB. The Board for Advance Rulings shall consist of two members, each being an officer not below the rank of Chief Commissioner, as may be nominated by the Board. MINISTRY OF FINANCE(Department of Revenue)(CENTRAL BOARD OF DIRECT TAXES) Notification No. 96/2021 …