The Central Board of Direct Taxes (CBDT) vide its Notification No 77/2021 dated 07th July 2021 amends the rules relating to computation of short term capital gains and written down value under section 50 where depreciation on goodwill has been obtained by inserting Rule 8AC. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT
MINISTRY OF FINANCE(Department of Revenue)(CENTRAL BOARD OF DIRECT TAXES)NOTIFICATIONNew Delhi, the 2nd July, 2021 G.S.R. 470(E).—In exercise of the powers conferred by section 48 read with section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct taxes hereby makes the following rules further to amend the Income-tax Rules,1962, namely:─ 1.
The Central Board of Direct Taxes (CBDT) vide its Notification No 74/2021 dated 25th June 2021 notify the extension of date of various compliances due to outbreak of coronavirus in the country. 1. Date of passing the order for assessment or reassessment under the Income-tax Act under section 153 or section 153B extended till 30th
The Central Board of Direct Taxes (CBDT) vide its Press Release dated 25th June 2021 notify exemption for medical expenditure on COVID treatment and ex-gratia payment received on the death due to COVID. Further, CBDT also announces the extension in timelines for various compliances. The following extension has been provided:- 1. Filing of objection to
The Central Board of Direct Taxes (CBDT) vide its Circular No 11/2021 dated 21st June 2021 notifies that CBDT is issuing a new functionality “Compliance Check for Sections 206AB & 206CCA”. Circular No. 11 of 2021 F. No. 370133/7/2021-TPL Government of India Ministry of Finance Department of Revenue (Central Board of Direct Taxes) *********** Dated:
The Central Board of Direct Taxes (CBDT) vide its Press Release dated 14th June 2021 notify the relaxation in electronic filing of Income Tax Forms 15CA/CB till 30th June 2021. Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi, 14th June 2021 PRESS RELEASE Relaxation in electronic filing
The Central Board of Direct Taxes (CBDT) (ITA-II Division) vide its F.No.225/61/2021/ITA-11 dated 10th June 2021 issue the guidelines for compulsory selection of returns for Complete scrutiny during the financial year 2021-22 and conduct of assessment proceeding in such cases. F.No.225/61/2021/ITA-11 Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes
The scheme of Advance Rulings was introduced in the Income Tax Act, 1961 by the Finance Act, 1993. Chapter XIX-B of the Income-tax Act, which deals with advance rulings, came into force with effect from 01st June 1993. Under this scheme, the power of giving advance rulings has been delegated to an independent adjudicatory body
The Central Board of Direct Taxes (CBDT) vide its Notification No 71/2021 dated 08th June 2021 notify the Income Tax (17th Amendment) Rules 2021 relating to TDS/TCS. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 8th June, 2021 (INCOME-TAX) G.S.R. 395(E).— In exercise of the powers conferred by
