No TDS u/s 194A on Interest Payment to a member of Scheduled Tribe of Specified Areas u/s 10(26)
CBDT notifies 'no TDS u/s 194A by banks in respect of payment of interest of upto Rs. 20 lacs made to a member of Scheduled Tribe residing in areas …
Category: Updates
CBDT further extends certain timelines to ease compliances
CBDT has further extended certain timelines to ease compliances under the Income Tax Act, 1961, including for PAN-Aadhaar linking, completion of penalty proceedings, benami proceedings, etc.
Extension of Time Limit for Generating UDIN from 15 to 60 days: ICAI
ICAI has announced to extend the time limit for generating UDIN from 15 days to 60 days from the date of the signing of certificates/ reports/ document with immediate …
GSTN Advisory on E-Way Bill Generation for principal supply as Service
GSTN has issued Advisory on Generation of e-way bill where the principal supply by the Taxpayer is classifiable as the Service, as under: 1. Representations have been received from …
CBDT Clarification on Carry Forward of losses in case of change in shareholding due to strategic disinvestment
CBDT clarifies the issue of carry forward of losses of ‘erstwhile public sector company’ u/s 79 in case of change in shareholding due to ‘strategic disinvestment’, in view of …
New IT Rule 14C: EVC not required for Faceless Assessment Scheme
CBDT notifies the Income-tax (27th Amendment) Rules, 2021 to insert new IT Rule 14C, which prescribes that EVC is not required for authentication of electronic records submitted under Faceless …
CBDT Procedure on ‘Cases transferred out of Faceless Assessment/ Penalty Proceedings’
CBDT prescribes procedure for handling of assessment/ penalties by Jurisdictional Assessing Officers in cases transferred out of Faceless Assessment/ Faceless Penalty proceedings under the Income-tax Act, 1961. Also CBDT …
ICAI’s Handbook on ‘Registration of Charitable Institutions for IT Exemption’
ICAI has released the Handbook on ‘Registration of Charitable & Religious Institutions for Income tax Exemption’ which explains the new IT provisions/ procedures for registration and renewal applicable for …
ICAI’s Technical Guide on ‘Taxation of HUFs’
ICAI has released the publication titled ‘Technical Guide on Taxation of HUFs’, which covers laws and procedures relating to taxation of HUFs at length and is very useful to …
New IT Rule 26D: Furnishing Declaration/ Evidence of Claims by Senior Citizens (Form 12BBA) u/s 194P
CBDT notifies the Income-tax (26th Amendment) Rules, 2021 to insert new IT Rule 26D regarding furnishing of declaration and evidence of claims by specified senior citizens in new IT …