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CBDT amends rule 31A and form no. 26Q from 3rd July 2020
CBDT vide Notification No. 43/2020 dated 3rd July, 2020 Mandates providing of certain information relating to cash withdrawals under section 194N in form no. 26Q. CBDT also mandates that details of in...
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Rule 11UAD- Prescribed class of persons for section 50CA
New Income TAx Rule 11UD- Prescribed class of persons for the purpose of section 50CA i.e to whom provisions of section 50CA shall not apply to transfer of any movable property, being unquoted shares,...
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CBDT notifies Investment Funds to which Section 9A not applicable
Notification No. 41/2020-Income Tax- Conditions specified in clauses (e), (f) and (g) of Section 9A(3) shall not apply in case of an investment fund set up by a Category-I foreign portfolio investor r...
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CORRIGENDUM to Income Tax Notification No. 35/2020
MINISTRY OF FINANCE(Department of Revenue)(CENTRAL BOARD OF DIRECT TAXES)CORRIGENDUM Notification No 39/2020New Delhi, the 29th June, 2020TAXATION AND OTHER LAWSS.O. 2126(E).—In the notification of th...
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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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MCA extends time for Creation of deposit repayment reserve & to deposit 15% of amount of debentures
Further Extension of time till 30th September 2020 to creation of deposit repayment reserve of 20% u/s. 73(2)(C) of the Companies Act 2013 and to invest or deposit 15% of amount of debentures u/r.18 o...
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Scheme for Street Vendors -PM SVANidhi scheme
Ministry of Housing & Urban AffairsScheme of Special Micro-Credit Facility launched for Street Vendors – Striving towards Atmanirbhar BharatPosted On: 19 JUN 2020 A Memorandum of Understanding has bee...
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SC teaches Court etiquettes to erring lawyer
Covid pandemic has ushered in a new era and have brought in new concepts and ways of working in different spheres of life. Our legal system has also undergone a complete change and Video Conferencing...