Category «Others»

Tax Updates September 2022

Notification and Circulars

Tax Updates September 2022 Income Tax Notification Issue during the month of September 2022 Amendment in Rule 114BB of Income Tax Rule 1962, applicable w.e.f. dated 09-07-2022 – Notification No 105/2022 dated 01-09-2022. Control of certain Income Tax authorities specified – Notification No 106/2022 dated 02-09-2022. Also See, “Due Date Compliance Calendar October 2022. Central …

Tax Updates in August 2022

Tax Updates in August 2022

Tax Updates in August 2022 Income Tax Notification Issue during the month of August 2022 CBDT amend rule 21AK pertaining to conditions for the purpose of claiming exemption under section 10(4E) – Notification No 87/2022 dated 01-08-2022. Central Government notify “Telangana State Pollution Control Board” for the purpose of clause (46) of section 10 – …

Tax Updates in June 2022

Tax Updates in June 2022

Tax Updates in June 2022 Income Tax Notification Issue during the month of June 2022 Government relaxes and modifies certain conditions for eligible investment fund and eligible fund manager – Notification No 59/2022 dated 06-06-2022. CBDT issue compliance check functionality for Section 206AB and Section 206CCA of the Income tax Act 1961 – Notification 1 …

Tax Updates in May 2022

Tax Updates in May 2022

Summary of Tax Updates in May 2022 Income Tax Notification Issue during the month of May 2022 1. Rule 44E amended and substituted the old Form No 34C to new Form No 34EA. Form 34EA to be made by concerned assessee for obtaining the advance ruling – Notification No 49/2022 dated 05-05-2022. 2. Rule 2DCA …

Equalisation Levy with example

Equalisation Levy with example

Equalisation Levy with example Equalisation Levy: – The Equalisation levy was introduced by Finance Act 2016 (effective from 1st June 2016). Equalisation levy is governed by Finance Act 2016 and it is not a part of Income Tax Act 2016. The purpose of introducing the equalisation levy is to levy tax on consideration of certain …