Announcement of an Amnesty Scheme, ‘Maharashtra Settlement of Arrears of Tax, Interest, Penalty or Late fees Act, 2013’ in respect…
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TAX Update
Scope of Section 56(2)(viib) widens to include Non-Residents Investors
The Finance Bill, 2023 has proposed to include the consideration received from a non-resident also under the ambit of clause…
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Partial Relaxation with respect to electronic submission of Form 10F
The Central Board of Direct Taxes (CBDT) has given partial relief to non-resident taxpayers by exempting them from mandatory electronic filing of Form 10F until March 2023. Filing…
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Explanation on Significant Economic Presence (SEP) under Income Tax Act, 1961
Where a business connection is established by reason of significant economic presence in India, only so much of income as…
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Insertion of Rule 132 to Income Tax Rules, 1962
Central Board of Direct Taxes (CBDT) has issued Notification No. 111/2022 on 28th September, 2022 through which Central Government has…
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Amendments in Rule 128 of the Income Tax Rules, 1962
Amendments in Rule 128 of the Income Tax Rules, 1962 Download PDF:-
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Applicability of Clause 30C and Clause 44 in FORM 3CD of Tax Audit Report.
Applicability of Clause 30C and Clause 44 kept in abeyance for a long time in FORM 3CD of Tax Audit…
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Reduction of time period for ITR E-verification.
Reduction of Time Limit for E-verification of Income Tax Return (‘ ITR ’) from 120 days to 30 days of…
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Sum paid as Bonus or Commission to Employees of a company disallowable u/s. 36(1)(ii) of the Income Tax Act, 1961 if the same is in lieu of Profit or Dividend
Disallowance of Bonus / Commission paid u/s. 36(1)(ii) Download PDF:-
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Insertion of Rule 12AC to Income Tax Rules, 1962
Central Board of Direct Taxes (CBDT) has issued Notification No. 48/2022 on 29th April, 2022 through which Central Government has introduced…
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Insertion of Rule 12AB to Income Tax Rules, 1962
Central Board of Direct Taxes (CBDT) has issued Notification No. 37/2022 on 21st April, 2022 through which Central Government has introduced…
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Taxability of Interest on PF contributions effective from FY 2021-22
CBDT has issued Notification No. 95 of 2021 dated August 31, 2021 (‘the Notification’) introducing new Rule 9D of the…
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Taxation of Virtual Digital Asset (VDA) in India
Government of India has introduced a new regime to tax “Virtual Digital Asset” for the taxpayers in the Union Budget…
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Payment received for providing access to Computer Software does not fall within the ambit of the term “Royalty”
The Hon’ble High Court has reversed the ruling given by Authority of Advance Ruling (AAR) and held that the payment…
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CBDT Notification No. 77 of 2021 dated July 7, 2021
CBDT Notification No.77 of 2021 dated July 7, 2021 regarding Computation of short term capital gains and written down value…
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CBDT extends due dates for electronic filing of various Forms under the Income Tax Act, 1961 vide Circular No. 15/2021 dated 03-08-2021
Central Board of Direct Taxes (CBDT) has decided to further extend the due dates for electronic filing of such Forms…
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CBDT Circular No. 12 of 2021 dated June 25, 2021 and Notification Nos. 74 and 75 of 2021.
CBDT Circular No.12 of 2021 dated June 25,2021 with Notification Nos 74 and 75 of 2021, regarding extensions in time limit…
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