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Rule 11UAC Exemption from deeming provisions of section 56(2)(x)
Prescribed class of persons for the purpose of clause (XI) of the proviso to clause (x) of sub-section (2) of section 56- Income Tax Notification No. 40/2020 dated 29th June, 2020.MINISTRY OF FINANCE(...
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Opted new Tax Regime- Claim conveyance, travel allowance
Perquisites & Allowances to Taxpayer opting Lower Tax Rate Option- Section 115BACCBDT issued Notification No. 38/2020-Income Tax Dated- 26/06/2020 amending rule 2BB of Income Tax Rules to allow taxpay...
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Section 10(46) exemption to RERA Authorities of Odisha & Jharkhand
Notification No. 37/2020- Central Government notifies Odisha Real Estate Regulatory Authority and Jharkhand Real Estate Regulatory Authority in respect of the specified income arising to that board un...
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Section 10(46) exemption to RERA Authorities of Andhra Pradesh & Karnataka
Notification No. 36/2020- Central Government notifies ‘Real Estate Regulatory Authority, Karnataka and Andhra Pradesh Real Estate Regulatory Authority in respect of the specified income arising to tha...
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Govt Extends due dates under Income Tax Law & Benami laws
Vide Income Tax Notification No. 35/2020 dated 24.06.2020 govt extends Due date for ITR for FY 2018-19 upto 31.07.2020, Last date for investments to be eligible for deduction under Chapter VI-A i.e. 8...
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Section 10(46) exemption to Maharashtra Electricity Regulatory Commission
Notification No. 34/2020- Central Government notifies ‘Maharashtra Electricity Regulatory Commission’, Mumbai , a commission established by the State Government of Maharashtra, in respect of the speci...
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Section 10(46) exemption to Greater Noida Industrial Development Authority
Notification No. 33/2020- Central Government notifies ‘Greater Noida Industrial Development Authority’, an authority constituted by the State Government of Uttar Pradesh, in respect of the specified i...
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Income Tax Refund of Rs. 62.36 crore issued during Covid days
Government of IndiaDepartment of RevenueMinistry of FinanceCentral Board of Direct TaxesNew Delhi, 3rd July, 2020PRESS RELEASEIncome Tax Department Refunded Rs. 62,361 crore to more than 20 lakhtaxpay...
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Verify online notice of Demand/order issued by Income Tax Department
Verify online notice/order issued by the Income Tax Department Now Taxpayer can verify notice/order issued by the Income Tax Department online quickly before proceed to response of notice/order.Step:...
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Important Extensions for Tax Payments for 2020-21
It could be assumed from the current scenario created by the COVID-19 has affected business functioning and revenues and it’s time for the Government of India and its citizen to come together and help...
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Due Date extended by CBDT on 24th June 2020
Due Dates Extended by the CBDT (CENTRAL BOARD OF DIRECT TAXES) on 24th June 2020 vide notification No. 35/2020-Income Tax1. ITR Filing for Financial Year 2018-19: Belated or Revised ITR for Financial...
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Income Tax – Due date extensions on 24th June 2020
Notification No. 35/2020/ F. No. 370142/23/2020-TPL Dated 24th June 2020In order to provide further relief to the taxpayers for making various compliances, the Government has issued Income Tax Notific...
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What if PAN not linked with Aadhar ?
Consequences of Non-Linking of PAN with Aadhar1) PAN will become inoperative.2)Where a PAN has become inoperative, it will be assumed that PAN has not been furnished/ quoted as required by the law and...
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Fall in collection of direct taxes is on expected lines: CBDT
Government of IndiaDepartment of RevenueMinistry of FinanceCentral Board of Direct TaxesNew Delhi, 07th June, 2020PRESS RELEASE Growth Trajectory of Direct Tax Collection & Recent Direct Tax ReformsTh...
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CBDT transfer/posts 272 officers in ACIT/DCIT Grade
F.No. A-22013/2/2020-Ad-VIभारत सरकारGovernment of Indiaवित्त मंत्रालयMinistry of Financeराजस्व विभागDepartment of Revenue(केंद्रीय प्रत्यक्ष कर बोर्ड Central Board of Direct Taxes) North Block, New De...
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Advance Payment of ICAI Membership Fee for 10 years
The Institute of Chartered Accountants of IndiaMembers & Students Services DirectorateThe Institute of Chartered Accountants of India5th June, 2020ANNOUNCEMENTThe ICAI Council has decided to give an o...
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Cost Inflation Index for Financial Year 2020-21- CBDT Notifies
CBDT notifies Income Tax Cost Inflation Index for Financial Year 2020-21 or Assessment Year 2021-22 vide Notification No. 32/2020-Income Tax dated 12th June 2020 at 301. Cost Inflation Index helps tax...
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FM launches Instant PAN facility through Aadhaar based e-KYC
Ministry of FinancePosted On: 28 MAY 2020 4:42PM by PIB DelhiIn line with the announcement made in the Union Budget, Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman formally lau...
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EPFO updates KYC for 52.62 lakh subscribers since 1st April, 2020
Ministry of Labour & EmploymentPosted On: 03 JUN 2020 12:36PM by PIB DelhiTo extend the availability and reach of online services, which have become crucial in the wake of the COVID-19 pandemic, EPFO...
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Draft Guidance Note on Report U/s. 92E of Income Tax Act, 1961
Inviting comments on Exposure Draft of Guidance Note on Report under Section 92E of the Income-Tax Act, 1961 (Transfer Pricing)- 02.06.2020Dear Professional Colleague,As you may be kindly aware, the C...