Category: Direct Tax Laws

As per the amendment in regulation 6(2)which deals with presentation of appeal, in which all appeals arising from the districts of Madurai, Theni, Dindigul, Ramanathapuram, Sivagangai, Thirunelveli, Virudhunagar, Thoothukkudi and Kanyakumari shall be presented to …

Read More "Government of Tamil Nadu issues notification under TN Value Added Tax Appellate Tribunal Regulations 2011."

Through this amendment under rule 3(5)(a), where there is any change in the name of employer or deductor or date of liability, the employer shall, within a period of fifteen days of such change, submit …

Read More "Bihar Professional Tax (Amendment) Rules, 2021."

Guidelines clarifying on income-tax exemption on the sum received under a life insurance policy, including any sum allocated by way of bonus on such policy subject to certain exclusions.

The advance ruling mechanism is provided in the Income Tax Act to provide upfront clarity to non-residents and certain other specified taxpayers, regarding the taxability of their transactions in India under Indian I-T laws.

The amendment explains manner for computing the capital gains arising from receipt of amount under the specified unit linked insurance policy.

The Person responsible for collection and payment of securities transaction tax in case of Insurance Company shall be the managing director or a whole-time director, as authorized by the Board of Directors of such company.

The amendment provides the formulae for computation of income of specified fund attributable to the investment division of an offshore banking unit.

In case taxpayer needs to assign Form 10CCB to different CAs for same Assessment Year, taxpayer must assign the form to different CA from “My CA” functionality again. The assignment can only happen when there …

Read More "CBDT issued clarification on Form 10CCB."

As per the amendment, an electronic record of an order passed under the scheme by the Commissioner of Income-tax (Appeals) shall be authenticated by by affixing his digital signature.

Extension of timelines for filing of Income-tax returns, report of audit and report of accountants.