Treatment of Income from Different Sources AY 2023-24 (FY 2022-23) under Income Tax as amended by Finance Act, 2022 Treatment of Income from Different Sources I. Income under the head Salaries 1.1 Salary is defined to include: a) Wages b) Annuity c) Pension d) Gratuity e) Fees, Commission, Perquisites, Profits in lieu of or in…
List of benefits available to Salaried Persons for the AY 2023-24 (FY 2022-23) under Income Tax as amended by Finance Act, 2022 List of benefits available to Salaried Persons* [AY 2023-24] S.N. Section Particulars Benefits A. Allowances 1. 10(13A) House Rent Allowance (Sec. 10(13A) & Rule 2A) Least of the following is exempt: a) Actual HRA Received…
Compliance Check Functionality for Section 206AB & 206CCA of income-tax Act 1961: Income Tax Notification No. 01 of 2022 dated 09.06.2022 DGIT(S)/ADG(S)-2/Compliance Check/432/2021-22 Government of India Ministry of Finance Central Board of Direct Taxes Directorate of Income Tax (Systems) Notification No. 01 of 2022 New Delhi, 09th June, 2022 Compliance Check Functionality for Section 206AB…
Guidelines for compulsory selection of returns for Complete Scrutiny during the Financial Year 2022-23 – procedure for compulsory selection in such cases: FinMin Order dated 03.06.20222 F.No.225/ 81/2022/ITA-II Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes (ITA-II division) North Block, New Delhi, the 03rd June, 2022 To All Pr….
Aadhaar-PAN linking: FAQs of upgraded Link Aadhaar service after payment of fee as per CBDT Circular No 7/2022. 1. Who needs to link Aadhaar and PAN? Section 139AA of the Income Tax Act provides that every person who has been allotted a permanent account number (PAN) as on the 1st day of July, 2017, and…
Implementation of Faceless Penalty (Amendment) Scheme, 2022: IT Notification No. 55/2022/F. No. 370142/51/2020-TPL(Part III) dated 27.05.2022 MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 27th May, 2022 (INCOME-TAX) S.O. 2426(E).—In exercise of the powers conferred by sub-section (2B) of section 274 of the Income-tax Act, 1961 (43 of…
Faceless Penalty (Amendment) Scheme, 2022: IT Notification No. 54/2022/F. No. 370142/51/2020-TPL(Part III) dated 27.05.2022 MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 27th May, 2022 (INCOME-TAX) S.O. 2425(E).— In exercise of the powers conferred by sub-section (2A) of section 274 of the Income-tax Act, 1961 (43 of 1961),…
Income-tax (Eleventh Amendment) Rules, 2022: Form and Manner for filing updated Income Tax return MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 29th April, 2022 G.S.R. 325(E).—In exercise of the powers conferred by sub-section (8A) of section 139 read with section 295 of the Income-tax Act, 1961 (43…
Revised Instruction for constitution and functioning of Local Committees to deal with Taxpayers Grievances from High-Pitched Scrutiny Assessment: FinMin, CBDT F.No.225/10112021-ITA-ll Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes ******** Room No. 245-A, North Block, New Delhi, the 23rd April, 2022 To All Pr. CCsIT/DGsIT/Pr.CCIT(Exemption)/Pr. CCIT(International-tax) Madam/Sir, Subject: Revised…
Income-tax (5th Amendment) Rules, 2022 w.e.f 01.04.2022 – Form ITR-7 for A.Y. 2023-24 / F.Y. 2022-23: Notification No. 23/2022 dated 1st April, 2022 MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 1st April, 2022 G.S.R. 252(E).—In exercise of the powers conferred by section 139 read with section 295…
Income-tax (fourth Amendment) Rules, 2022 w.e.f 01.04.2022 – ITR forms for FY 2022-23/ AY 2023-24: Notification No. 21/2022 Dated 30th March, 2022 MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 30th March, 2022 G.S.R 231(E).—In exercise of the powers conferred by section 139 read with section 295 of…
Income-tax (Third Amendment) Rules, 2022 w.e.f 01.04.2022 – Notification No. 17/2022-Income Tax Dated 29th March, 2022 MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 29th March, 2022 INCOME-TAX G.S.R. 229(E).—In exercise of the powers conferred by sections 139AA and 234H read with section 295 of the Income-tax Act,…