Category: Newsletter

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 →

Income Tax Law Updates Case Laws/Judgement: Reji Easow Vs Income Tax Officer (ITAT Mumbai) Order dated 08-03-2022 Hon’ble ITAT Mumbai held that for claiming exemption under section 54 Date on which possession is by the Assessee  should be taken as the date of purchase and … Continue Reading →

Income Tax Law Updates Notification/Circulars: Notification No. 14/2022 dated 03rd March, 2022 The Central Government approves ‘Sri Shankara Cancer Foundation, Bangalore (PAN: AAHTS5593F)’ under the category of ‘University, College or other institution’ for Scientific Research for the purposes of clause (ii) of sub-section (1) of … Continue Reading →

Goods and Services Tax Law Updates: AAR/Case Laws/Judgements Rajasthan  Amnesty Scheme-2022 Government of Rajasthan in its State Budget 2022 vide Notification dated 23-02-2022 notify ‘Amnesty Scheme-2022′, as the scheme, for rebate of tax and settlement of outstanding demands and disputed amounts. This scheme shall … Continue Reading →

Income Tax Law Updates: Notification/Circulars Income Tax Circular No. 3/2022 dated 03-02-2022 CBDT Clarification regarding the Most-Favoured-Nation (MFN) clause in the Protocol to India’s DTAAs with certain countries- Reg Goods and Services Tax Law Updates: AAR/Case Laws/Judgements Commissioner of Central Tax Vs. Yahoo Services Development … Continue Reading →