Author: TaxIndiaUpdates In

Income Tax Law Updates Notification/Circular: CBDT Circular No.10 of 2022 dated 17-05-2022 The CBDT has issued Circular No 10 of 2022. Finance Act 2022 amended the definition of ‘specified person’ to, inter-alia, mean a person who has not filed ROI for 1 year to attract … Continue Reading →

Income Tax Law Updates Notification/Circular: CBDT Notification No. 49/2022/F.No.370142/6/2022-TPL dated 05-05-2022 CBDT vide above Notification amended rule  Rule 44E of the Income Tax Rules, 1962 related to Application for obtaining an Advance Ruling and introduces new FORM No. 34C , 34D, 34DA, 34E and 34EA. … Continue Reading →

Income Tax Law Updates Notification/Circulars: Notification No. 47/2022 F.No.300196/43/2017-ITA-I] dated 28-04-2022  Certain Income of ‘Tamilnadu Construction Workers Welfare Board’ (PAN AAATT9440P), will be exempted under clause (46) of section 10 of the Income-tax Act, 1961. NOTIFICATION No. 48/2022/F. No. 370142/18/2022-TPL(Part-1) dated 29-04-2022 CBDT notifies New … Continue Reading →

Income Tax Law Updates Notification/Circulars: Notification No. 36/2022/F. No. 300196/12/2022-ITA-I dated 20-04-2022  Certain Income of ‘SEEPZ Special Economic Zone Authority’ (PAN AAALS4995G), will be exempted under clause (46) of section 10 of the Income-tax Act, 1961. Notification No. 35/2022/F. No. 300196/7/2022-ITA-I dated 20-04-2022  Certain Income … Continue Reading →

Income Tax Law Updates Notification/Circulars: NOTIFICATION NO. 29/2022 dated 12-04-2022 The CBDT has notified ‘The Somnath Temple managed by Shree Somnath Trust (PAN: AAATS9555Q) as a place of historic importance and a place of public worship of renown for the purposes of the section 80G. … Continue Reading →

Income Tax Law Updates Notification/Circulars: Notification No. 27/ 2022/F.No. 370142/5/ 2022- TPL-Part1 dated 05-04-2022 CBDT notified E-Dispute Resolution Scheme 2022 under section 245MA of the ITA. Scheme is helpful for small taxpayers where the addition proposed is upto INR 10 lakhs. Notification No. 24/2022 Continue Reading →

Income Tax Law Updates Notification/Circulars: Notification No. 16/2022 / F. No. 370142/35/2020-TPL-Part-II dated 28-03-2022 The CBDT has extended the date of passing of any order under section 26(3) of the Benami Act to 30-09-2022. The extension has been given in those cases where the due … Continue Reading →