Category: Income Tax
Amendments proposed in relation to taxation of successor entity subsequent to business reorganization/ restructuring, including introduction of Mechanism to recast Tax demands, vide Clauses 50, 53 and 54 of …
IT S. 40(ii)(a) disallows payments on account rates/ taxes on the profits or gains of any business or profession in computing the taxable PGBP. However, some taxpayers claim deduction …
Reduction in AMT (from 18.5% to 15%) and Surcharge (from 12% to 7%) for Co-operative Societies by the Finance Bill 2022.
Amendments proposed for rationalization of the penalty provisions u/s 271AAB, 271AAC and 271AAD of the Income Tax Act, vide Clauses73, 74 and 75 of the Finance Bill 2022 (budget …
Amendment proposed in Section 133A on Income-tax authorities for the purposes of the section, vide Clause 37 of the Finance Bill 2022 (budget 2022-23), as under: 1. Section 133A …
Amendments proposed in the provisions of section 119 of Income-tax Act, to empower CBDT to waive fee of Rs. 5000 u/s 234F, in certain cases of failure to furnish …
Central/ State Governments can contribute upto the limit of 14% as Employer’s NPS contribution. However, when we talk about deduction under IT S. 80CCD(2), there is a differential treatment …
Amendments proposed to rationalize the provisions of higher rate of TDS/ TCS u/s 206AB and 206CCA of the Income Tax Act to widen the tax base, by considering ITR …
Amendment proposed to clarify that for the purposes of section 50 of the Act, reduction of the amount of goodwill of a business or profession, from the block of …
Amendments proposed in the provisions of section 263 of the Income Tax Act relating to revision of erroneous Order of the TPO issued u/s 92CA, vide Clause 48 and …