Arm’s Length Price of International Transaction or Specified Domestic Transaction
It has been notified that price at which International Transaction or Specified Domestic Transaction has been actually undertaken shall be considered as Arm’s Length Price for Section 92C
Clarifications Regarding Extension of Time Limits for Submission of certain TDS / TCS Statements
Clarifications Regarding Extension of Time Limits for Submission of certain TDS / TCS Statements by Circular No. 9 of 2023
GSTR-3B Date Extended for Notified Districts
GSTR-3B Due Date for May 23 Extended for Specified Districts in Gujarat by Notification No. No. 17/2023 –Central Tax
Relaxation in case of Delay in filing DPT-3
Relaxation in paying Additional Fees in case of Delay in filing DPT-3 for Financial Year ended on 31st March 2023 upto 31st July 2023
Notification on the Cost Inflation Index (CII)
The CBDT has stated that the ‘Cost Inflation Index (CII)’ for Fiscal Year 2023-24 (Assessment Year 2024-25) will be 348, up from 331 released earlier for the previous fiscal year 2022-23
Notification by CBDT with respect to classes of person for the purpose of section 56 of income tax act 1961
Section 56(2) of Income Tax Act, 1961 deals with incomes, shall be chargeable to income-tax under the head “Income from other sources”.
Tax exemption limit on leave encashment increased to Rs 25 lakh for non-government salaried employees
The existing limit of tax exemption on leave encashment for non-government salaried employees stands revised from Rs. 3 Lakh to Rs. 25 lakh with effect from April 1, 2023.
Clarifications Regarding Provisions related to Registrations of Charitable and Religious Trusts
Clarifications Regarding Provisions related to Registrations of Charitable and Religious Trusts
All About Section 194BA – TDS Deduction on Winnings from Online Games
Section 194BA has been introduced after Section 194B under the Income Tax Act 1961 to tax winnings from online games.
Rupees 2000 Indian Currency Notes Withdrawn from Circulation by RBI
RBI has decided to withdraw Rs. 2000 currency notes from circulation. The move has come in pursuance of the “Clean Note Policy” of the RBI.
