INCOME TAX SLAB RATE NEW TAX REGIME VS OLD TAX REGIME
DIFFERENCE BETWEEN OLD TAX REGIME VS NEW TAX REGIME
The reporting under clause 30C and clause 44 of the tax audit report (form 3CD) has been kept in abeyance till 31st March 2022.
The compliance of 44 clause was kept in abeyance till 31/03/2022 but for all the reports submitted after that date the clause is mandatory. The primary duty of submission of…
ITR-V submission: Time limit for verifying ITR reduced from 120 days to 30 days
The CBDT said that E-verified/ITR-V submitted after 30 days, will be considered as ‘Delayed filing’ and not Invalid ITR. The CBDT has announced that the time limit for verifying an…
CBDT directs ASK (Aaykar Seva Kendra Centres) to remain open on July 31, 2022 during normal office hours to facilitate filing of tax returns.
The order no F.No 225/125/2022-ITA.II dated July 30, 2022 issued by CBDT to directed the ASK centres throughout the India to remain open on July 30,2022 during normal office hours…
GOVT IS NOT CONSIDERING TO EXTEND THE LAST DATE OF INCOME TAX RETURN
Revenue Secretary Tarun Bajaj on Friday said the government is not considering extending the July 31 deadline for filing the income tax return (ITR), according to news agency PTI. So,…
Income Tax – Condonation of delay under Section 119(2)(b) of the Income-tax Act, 1961 in filing of Form No. 10B for Assessment Year 2018-19 and subsequent years.
The settled legal position uptill now is that for availing exemptions from tax the following conditions must be fulfilled: 1) The assessment proceedings could be said to be pending even…
TDS on benefit or perquisite of a business or profession – Section 194R of Income Tax Act 1961
Section 194R casts an obligation on the person responsible for providing any benefit or perquisite to a resident, to deduct tax at source @10%. There is no further requirement to…
CBDT notifies Income Tax Rule 16. Application under section 158AB to defer filing of appeal
CBDT notifies Income Tax Rule 16,Application under section 158AB to defer filing of appeal before the Appellate Tribunal or the jurisdictional High Court and inserts new Form No. 8A vide…
CBDT notifies new Income Tax Rule 21AL Other Conditions required to be fulfilled by original fund vide Notification No. 80/2022- Income Tax Dated: 8th July, 2022.
In a case where a capital asset is transferred to a resultant fund being a Category III Alternative Investment Fund, shall fulfil the condition that the aggregate participation or investment…
Amendment of Income Tax rule 31A and insertion of Form No. 26QF (Notification No. 73/2022 – Income Tax)
Amendment of Income Tax rule 31A and insertion of Form No. 26QF (Quarterly statement of tax deposited in relation to transfer of virtual digital asset under section 194S to be…