Amendments proposed for widening the scope of reporting u/s 285B of the Income Tax Act applicable in the case of producers of cinematograph films, to further include certain persons …
Proposed amendments in relation to exemption of amount received for medical treatment and on account of death due to COVID-19, vide clauses 10 and 16 of the Finance Bill …
Amendments proposed in IT S. 43B to clarify that deduction for payment of interest on loans/ borrowings from specified FIs/ NBFCs/ Banks/ Co-op. Banks, is to be based on …
Amendments proposed in IT S. 14A to clarify the statutory position in the matter disallowance of expenditure in relation to income which does not form part of taxable income, …
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 …