TMI Short Notes

TMI Short Notes on various issues

651. Extension of date of incorporation for eligible start up for exemption

     ---

652. Extension of the last date for commencement of manufacturing or production, under section 115BAB, from 31.03.2023 to 31.03.2024

     ---

653. Consequence for failure to deduct/collect or payment of tax – Computation of interest

     ---

654. Clarification regarding deduction on payment of interest only on actual payment

     ---

655. Clarification in respect of disallowance under section 14A in absence of any exempt income during an assessment year

     ---

656. Amendments related to successor entity subsequent to business reorganization

     ---

657. Clarification regarding treatment of cess and surcharge

     ---

658. Amendment in section 245MA of the Act related to Dispute Resolution Committee

     ---

659. Litigation management when in an appeal by revenue an identical question of law is pending before jurisdictional High Court or Supreme Court.

     ---

660. Rates of income-tax in respect of income liable to tax for the assessment year 2021-22.

     ---

661. Rates for deduction of income-tax at source during the financial year (FY) 2021-22 from certain incomes other than“Salaries”.

     ---

662. Rates for deduction of income-tax at source from “Salaries”, computation of “advance tax” and charging of income-tax in special cases during the FY 2021-22

     ---

663. Tax Incentives Exemption for LTC Cash Scheme

     ---

664. Incentives for affordable rental housing

     ---

665. Tax incentives for units located in International Financial Services Centre (IFSC)

     ---

666. Issuance of zero coupon bond by infrastructure debt fund

     ---

667. Tax neutral conversion of Urban Cooperative Bank into Banking Company

     ---

668. Facilitating strategic disinvestment of public sector company

     ---

669. Extension of date of sanction of loan for affordable residential house property

     ---

670. Extension of date of incorporation for eligible start up for exemption and for investment in eligible start-up

     ---

671. Removing difficulties faced by taxpayers Increase in safe harbour limit of 10% for home buyers and real estate developers selling such residential units

     ---

672. Relaxation for certain category of senior citizen from filing return of income-tax

     ---

673. Rationalisation of provisions related to Sovereign Wealth Fund (SWF) and Pension Fund (PF)

     ---

674. Addressing mismatch in taxation of income from notified overseas retirement fund

     ---

675. Rationalisation of provisions of Minimum Alternate Tax (MAT)

     ---

676. Exemption of deduction of tax at source on payment of Dividend to business trust in whose hand dividend is exempt

     ---

677. Rationalisation of the provision concerning withholding on payment made to Foreign Institutional Investors (FIIs)

     ---

678. Rationalisation of provisions relating to tax audit in certain cases

     ---

679. Advance tax instalment for dividend income

     ---

680. Raising of prescribed limit for exemption under sub-clause (iiiad) and (iiiae) of clause (23C) of section 10 of the Act

     ---

681. Extending due date for filing return of income in some cases, reducing time to file belated return and to revise original return and also to remove difficulty in cases of defective returns

     ---

682. Rationalisation of various Provisions Payment by employer of employee contribution to a fund on or before due date

     ---

683. Constitution of Dispute Resolution Committee for small and medium taxpayers

     ---

684. Constitution of the Board for Advance Ruling

     ---

685. Income escaping assessment and search assessments

     ---

686. Allowing prescribed authority to issue notice under clause (i) of sub-section (1) of section 142

     ---

687. Provision for Faceless Proceedings before the Income-tax Appellate Tribunal (ITAT) in a jurisdiction less manner

     ---

688. Discontinuance of Income-tax Settlement Commission

     ---

689. Reduction of time limit for completing assessment

     ---

690. Rationalisation of the provision of Charitable Trust and Institutions to eliminate possibility of double deduction while calculating application or accumulation

     ---

691. Taxation of proceeds of high premium unit linked insurance policy (ULIP)

     ---

692. Rationalisation of the provision of slump sale

     ---

693. Rationalisation of provision of transfer of capital asset to partner on dissolution or reconstitution

     ---

694. Provisional attachment in Fake Invoice cases

     ---

695. Rationalisation of the provisions of Equalisation Levy

     ---

696. Depreciation on Goodwill

     ---

697. Rationalisation of the provision relating to processing of returned income and issuance of notice under sub-seciton (2) of section 143 of the Act

     ---

698. Adjudicating authority under the PBPT Act

     ---

699. Rationalisation of the provision of presumptive taxation for professionals under section 44ADA

     ---

700. Clarification regarding the scope of Vivad se Vishwas Act, 2020

     ---

1 ....101112131415161718........ 26