CBDT Guidelines on Income Tax Exemption for ULIP Receipts u/s 10(10D)
CBDT clarifies that any sum received including by way of bonus during the current previous year under any one or more eligible Unit Linked Insurance Policy (ULIPs) issued on …
Tag: CBDT
Securities Transaction Tax (1st Amendment), Rules, 2022
CBDT has notified the ‘Securities Transaction Tax (1st Amendment), Rules, 2022‘ to insert new STT Rule 5A on ‘Person responsible for collection and payment of STT in the case …
New IT Rule 8AD on Computation of Capital Gains from ULIPs u/s 45(1B)
CBDT has notified the Income tax (2nd Amendment) Rules, 2022 to insert new IT Rule 8AD on ‘Computation of Capital Gains from ULIPs u/s 45(1B)‘, in respect of insurance policy receipts on …
CBDT notifies the ‘e Advance Rulings Scheme 2022’, as part of ‘Faceless Schemes’
CBDT has taken yet another initiative under the ‘faceless schemes’ and has notified the ‘e Advance Rulings Scheme 2022’, applicable w.e.f. 18/01/2022. Accordingly, CBDT has prescribed procedures for submission, …
ITR & TAR Due Dates further Extended by CBDT: FY 2020-21/ AY 2021-22
CBDT has further extended the due dates for filing of Income Tax Return (ITR)/ Tax Audit Report (TAR)/ Transfer Pricing Report (TPR), in respect of FY 2020-21/ AY 2021-22. …
ITR Verification timeline extended upto 28/02/2022 for FY 2019-20/ Ay 2020-21
Income Tax Department provides one time opportunity to Taxpayers whose Income tax return has been filed but is pending for e-verification (using EVC/ OTP) or submission of ITR-V, in …
CBDT further Extends Timeline to Allow Validation of UDINs upto 31/01/2022
CBDT has further extended the last date/ timeline for allowing validations of UDINs upto 31/01/2022, in respect of past IT Forms uploaded on the e-filing Portal, as per ICAI …
Income Tax Raids on Fintech Co. in Delhi/ Gurugram; detects inflated remittances to group companies
Income Tax Department has conducted raids/ search operations in Delhi and Gurugram on the business and residential premises of a Fintech company providing instant short term personal loans through …
Income Tax Raids on Pune Group; Rs. 200 crore unaccounted income detected
Income Tax Department has conducted raids/ search operations on 25 premises/ in 7 Cities of a group engaged in heavy machinery manufacturing in Pune, which has led to detection …
Income Tax Raids on 3 Groups in AP/ Telangana; Rs. 75 crore unaccounted income detected
Income Tax Department has conducted raids/ search operations on 30 premises at Visakhapatnam, Hyderabad, Vizianagaram and Srikakulam of three groups engaged in real estate, which has led to detection …