Income-taxAct,1961:Notificationunderundersection2(1A)(c),poviso,clause(ii)(B)and section2(14)(iii)(b);Urbanisationofareas WhereasadraftnotificationwaspublishedbytheCentralGovernmentinexerciseofthepowersconferred byitem(B)ofclause(ii)oftheprovisotosub-clause(c)ofclause(1A),anditem(b)ofsub-clause(...
Exemption under Section 10 (1) on agricultural income If you earn any type of agricultural income in a financial year, such an income would be exempted from tax. Agricultural income, as defined under Section 2 (1A) of the Income Tax Act, 1961, would include the following types of incomes...
1961 (hereinafter ‘the Act’), during the financial year 2021-22, were intimated. The present Circular contains the rates of deduction of Income-tax from the payment of
Sub: Condonation of delay under section 119(2)(b) of the Income-tax Act, 1961 in filing of Form No. 10BB for Assessment Year 2016-17 and subsequent years - Reg. Under the provisions of section 10(23C) of...
Section 43 of Income Tax Act 1961 amended by Finance Act 2022 and Rules PGBP. Definitions of certain terms relevant to income from PGBP.
TCS Nature of Collection represents the various types of payments received for which TCS rates have been specified under the provisions of section 206C(1H) of the Income Tax Act 1961. A new field 'TCS On Recpt Of Pmt.' has been added on the setup....
4)If you choose to use your Aadhaar number in place of a PAN, you must be careful because filling in an incorrect number will lead to a penalty of ₹10,000 under Section 272B of the Income Tax Act of 1961 5)If you fail to provide your PAN to your employer, who deducts a highe...
These Revenue’s and assessee’s cross-appeals for AY.2008-09 arise against the CIT(A)-II, Hyderabad’s order(s) dated 11-11-2014, in case No.0270 / CIT(A)-II, Hyd /2014-15, involving proceedings u/s.143(3) of the Income Tax Act. Citation : 125/Hyd/2015 IN THE ...
If the information provided by you in your return matches with what the tax department has, a final intimation is sent (under Section 143(1) of the Income-tax Act, 1961). It contains details of return filed by you and the information available with the tax authority. ...
So, the parameters for the eligibility of this rebate under section 87A of the Income Tax Act 1961 are mentioned below in steps? Step 1: To begin with, the income to be taken into consideration for the access to a rebate under section 87A is arrived at after setting off the ‘brought...