The Central Board of Direct Taxes (CBDT) vide its Notification No 134/2021 [S.O. 5056(E)] dated 06th December 2021 notify the Jeevan Akshay-VII Plan of the Life Insurance Corporation of India for claiming deduction under section 80C of the Income Tax Act, 1961 for the assessment year 2021-22 onwards. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL
The Central Board of Direct Taxes (CBDT) vide its Circular No 20/2021 dated 25th November 2021 issues guidelines under sub-section (4) of section 194-0, sub-section (3) of section 194Q and subsection (I-I) of section 206C of tile Income-tax Act, 1961. F. No.370142/56/2021-TPL Government of India Ministry of Finance Department of Revenue Central Board of Direct
The Central Board of Direct Taxes (CBDT) vide its Notification No 132/2021 [G.S.R. 831(E)] dated 23rd November 2021 notifies the revised Form 52A – Statement to be furnished to the AO under section 285B of the Income Tax Act 1961 in respect of production of cinematography film. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD
Residential Status under Income Tax Act, 1961:- Section 6 of the Income Tax Act, 1961 deals with the residential status of the assesse. Why the determination of residential status is mandatory:- By determining residential status of any person we conclude that whether a person is a resident of India or a non-resident of India. If
The Central Board of Direct Taxes (CBDT) vide its Press Release dated 01st November 2021 rolls out the new Annual Information Statement (AIS). Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi, 1st November, 2021 PRESS RELEASE Roll out of the new Annual Information Statement (AIS) Income Tax
The Central Board of Direct Taxes (CBDT) vide its Notification No 129/2021 [S.O. 4584(E)] dated 01st November 2021 notifies the e-Settlement Scheme 2021 to settle the pending applications in respect of which the applicant has not exercised the option under sub-section (1) of section 245M of the Act and which has been allotted or transferred
The Central Board of Direct Taxes (CBDT) vide its Notification No 119/2021 [S.O. 4207(E)] dated 11th October 2021 exempts the certain person from the requirement of furnishing a return of incomeunder section 139(1) of the Income Tax Act, 1961 from assessment year 2021-2022 onwards. MINISTRY OF FINANCE(Department of Revenue)(CENTRAL BOARD OF DIRECT TAXES)NOTIFICATIONNew Delhi, the
The Central Board of Direct Taxes (CBDT) vide its Notification No 118/2021 [G.S.R. 713(E)] dated 1st October, 2021 notifies the rules for implementing the amendments made by the Taxation Laws (Amendment) Act, 2021. MINISTRY OF FINANCE (Department Of Revenue) (CENTRAL BOARD OF DIRECT TAXES), New Delhi G.S.R. 713(E).—In exercise of the powers conferred by clause
The Central Board of Direct Taxes (CBDT) vide its Notification No 117/2021 [G.S.R. 661(E)] dated 24th September 2021 amends the Rule 10TD of Income Tax Rules, 1962 to extend the validity of safe harbour rules for AY 2021-22. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 24th September,
