INCOME-TAX DEDUCTION FROM SALARIES DURING THE FINANCIAL YEAR 2021-22 UNDER SECTION 192 OF THE INCOME-TAX ACT, 1961.
North Block, New DelhiDated the 15th March, 2022 Reference is invited to Circular No. 20/2020 dated 03.12.2020 whereby the rates of deduction of income-tax from the payment of income under…
Clarification regarding the Most-Favoured-Nation (MFN) clause in the Protocol to India’s DTAAs with certain countries
New Delhi, 3rd February, 2022 The Protocol to India’s Double Taxation Avoidance Agreements (DTAAs) with some of the countries, especially European States and OECD members (The Netherlands, France, the Swiss…
Guidelines under clause (10D) section 10 of the Income-tax Act, 1961
Dated: 19th January, 2022 Clause (10D) of section 10 of the Income-tax Act, 1961 (the Act) provides for income-tax exemption on the sum received under a life insurance policy, including…
Extension of timelines for filing of Income-tax returns and various reports of audit for the Assessment Year 2021-22
New Delhi, dated 11th January 2022 On consideration of difficulties reported by the taxpayers and other stakeholders due to COVID and in electronic filing of various reports of audit under…
One-time relaxation for verification of all income tax-returns e-filed for the Assessment Year 2020-21 which are pending for verification and processing of such returns
New Delhi, dated 28th December,2021 1. In respect of an Income-tax Return (lTR) which is filed electronically without a digital signature, the taxpayer is required to verify it using anyone…
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.
Dated 25th November, 2021 Finance Act, 2020 inserted a new section 194-0 in the Income-tax Act 196 1 (here in after referred to as ” the Act”) which mandates that…
Guidelines under clause (23FE) of section 10 of the Income-tax Act, 1961
Finance Act, 2020, inter-alia, inserted clause (23FE) of section 10 of the Income-tax Act, 1961 (hereinafter referred to as “the Act”) to provide for exemption to sovereign wealth funds and…
Clarification regarding Section 36(1)(xvi i) of the Income-tax Act. 1961 inserted vide Finance Act. 2015
The Finance Act, 2015 inserted the following clause (xvii) in sub-section (1) of section 36 of the Income-tax Act, 1961 (the Act) to provide for deduction on account of the…
Extension of time lines for filing of Income-tax returns and various reports of audit for the Assessment Year 2021-22
New Delhi, Dated 9th September, 2021 On consideration of difficulties reported by the taxpayers and other stakeholders in electronic filing of Income-tax returns and various reports of audit under the…
Extension of time lines for electronic filing of various Forms under the Income-tax Act, 1961
New Delhi, Dated 29th August, 2021 On consideration of difficulties reported by the taxpayers and other stakeholders in electronic filing of certain Forms under the provisions of Income-tax Act, 1961…