Author: TaxIndiaUpdates In

Income Tax Law Updates Notification/Circular: CBDT Notification No. 05/2022 dated 29-07-2022 Reduction of time limit for verification of Income Tax Return (ITR) from within 120 days to 30 days of transmitting the data of ITR electronically. Case Laws/Judgement: Orchid Foundations Pvt. Ltd Vs ITO … Continue Reading →

Income Tax Law Updates Notification/Circular: Notification No. 04 of 2022 dated 26-07-2022 : ​Procedure of PAN application & allotment through Simplified Proforma for incorporating Limited Liability Partnerships (LLPs) electronically Form FiLLiP of Ministry of Corporate Affairs. Case Laws/Judgement: Navin Sirahmal Mukim Vs ITO (ITAT Pune)  … Continue Reading →

Income Tax Law Updates Notification/Circular: Notification No. 85/2022/F. No. 300196/17/2022-ITA-I] dated 21-07-2022  In exercise of the powers conferred by clause (46) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies for the purposes of the said clause, Odisha … Continue Reading →

Income Tax Law Updates Notification/Circular: Notification No. 83/2022/ F. No. 370142/30/2022-TPL dated 12-07-2022 In exercise of the powers conferred by sub-section (2) of section 158AB read with section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes … Continue Reading →

Income Tax Law Updates Notification/Circular: Notification No. 73/2022/F. No. 370142/29/2022-TPL (Part-I) dated 30-06-2022 In exercise of the powers conferred by section 295 read with section 194S of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes, hereby, makes the following rules … Continue Reading →

Income Tax Law Updates Notification/Circular: DGIT(S)/ADG(S)-2/STT Filing/2022 Notification No. 2 of 2022 New Delhi, 24th June, 2022 ​Format, Procedure and Guidelines for submission of Form No. 1, Form No. 2 and Form No. 2A for Securities Transaction Tax (STT) Case Laws/Judgement: Karida Real Estates Private … Continue Reading →

Income Tax Law Updates Notification/Circular: NOTIFICATION NO. 65/2022 dated 17-06-2022 The Central Board of Direct Taxes (CBDT) vide above Notification has exempted deduction of tax at source under section 194-I on payment of lease rent or supplemental lease rent made to a unit located in … Continue Reading →

Income Tax Law Updates Notification/Circular: CBDT Notification No. 01 of 2022 dated 9-6-2022   ​Compliance Check Functionality for Section 206AB & 206CCA of Income-tax Act 1961: To facilitate Tax Deductors and Collectors in identification of Specified Persons as defined in sections 206AB and 206CCA, the … Continue Reading →

Income Tax Law Updates Notification/Circular: CBDT Circular No. 11 of 2022 dated 03-06-2022 Clarification regarding Form No 10AC issued till the date of this Circular: The conditions contained in Form No. 10AC, issued between 01.04.2021 till the date of issuance of this Circular, shall … Continue Reading →

Income Tax Law Updates Notification/Circular: Notification No. 54/2022/F. No. 370142/51/2020-TPL(Part III)] dated 27-05-2022 The Central Board of Direct Taxes (CBDT) vide above notification has notified the Faceless Penalty (Amendment) Scheme, 2022. The board has omitted the concept of Regional Faceless Penalty Centres from the Faceless … Continue Reading →