The Central Board of Direct Taxes (CBDT) vide its Notification No 83/2021 dated 29th July 2021 removes certain rules and forms from the Income Tax Act, 1961 by inserting Rule 130 Ommission of certain rules and forms and savings. Rules Removed: Rules 5A, 5AB, 6ABB, 12B, 12BA, 16D, 16DD, 16E, 16F, 18B, 18BB, 18BBA, 18DD,
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
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 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
The Central Board of Direct Taxes (CBDT) vide its Notification No 56/2021 dated 07th May 2021 exempted the provisions of Section 269ST of Income Tax Act, 1961 for Hospitals, Dispensaries, Nursing Homes, Covid Care Centres or similar other medical facilities providing Covid treatment to patients, on obtaining the PAN or AADHAAR of the patient and
The Central Board of Direct Taxes (CBDT) vide its Notification No 50/2021 dated 05th May 2021 exempted the cash allowances received from the employer in lieu of any travel concession or assistance maximum up to Rs 36,000/- or one-third of the specified expenditure, whichever is less, under the second proviso to clause (5) of section
The Central Board of Direct Tax (CBDT) has vide its Notification No 40/2021 dated 03rd May 2021 inserted the Rule 11UD in the Income Tax Rules 1962 related to thresholds for the purposes of significant economic presence in India under Section 9(1) of the Income Tax Act, 1961. The full text of the notification is
The Central Board of Direct Taxes (CBDT) vide its Notification No 37/2021 dated 26th April 2021 further amend the Rule 2DB of the Income Tax Rules 1962 and Form 10BBA of the Income Tax Act, 1961. The full text of the notification is as follows:- MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT
The Directorate of Income Tax (System), CBDT has vide its Notification No 1 of 2021 and Notification No 2 of 2021 dated 20th April 2021 notify the format, procedure, and guidelines for submission of Statement of Financial Transactions (SFT) under Section 285BA of the Income Tax Act, 1961 in respect of Dividend and Interest Income
CBDT has vide its Notification No 32/2021 dated 15th April 2021 notifies the amendment in Rule 2DB, 2DC, and Form 10BBA. The full text of the notification is as follows:- MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 15th April, 2021 INCOME-TAX G.S.R. 274(E).—In exercise of the powers
