The CBDT has notified the *Form No 71* to e- file rectification u/s 155(20) to allow TDS in cases were…
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TAX Update
Amendment in Rule 3 for Determination of value of Perquisite.
Finance Act, 2023 brought in an amendment for the purposes of calculation of “perquisite” with regard to the value of…
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New Rule 6ABBB in Income Tax Rules,1962.
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CBDT proposes changes to Rule 11UA in respect of Angel Tax.
In the Finance Act, 2023, an amendment has been introduced to bring the consideration received from non-residents for the issue…
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TCS on International Credit Card Transactions
International Credit Card transactions are now covered under the Liberalised Remittance Scheme (LRS). Accordingly, any payments made through International Credit Card of…
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Cost Inflation Index for FY 2023-24
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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 September 2023. Filing…
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Highlights of the Maharashtra state Budget Speech dated: 09 March 2023.
Announcement of an Amnesty Scheme, ‘Maharashtra Settlement of Arrears of Tax, Interest, Penalty or Late fees Act, 2013’ in respect…
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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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