Increased limit for tax exemption on leave encashment for non-government salaried employees to Rs. 25 lakh w.e.f. 01.04.2023: CBDT Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes **** New Delhi, 25th May, 2023 PRESS RELEASE Increased limit for tax exemption on leave encashment for non-government salaried employees notified The…
Deduction of TDS under section 192 read with sub-section (1A) of section 115BAC of the Income-tax Act, 1961: IT Circular dated dated 05.04.2023 Circular No. 04 of 2023 F. No.370142/06/2023-TPL Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes (TPL Division) Dated: 5th April, 2023 Sub: Clarification regarding deduction of…
Clarification on the provisions under Income Tax Act’ 1961 pertaining to National Pension System (NPS) FOOD CORPORATION OF INDIA HEADQUARTERS 16-20, BARAKHAMBA LANE NEW DELHI – 110001 No. DCPS / 1 / Wage Revision / 2017-2018 Dated: 13th Feb, 2023 Circular No. FCIDCPS-02/2023 Subject: Clarification on the provisions under Income Tax Act’ 1961 pertaining to…
Income Tax on GPF accumulation beyond threshold limit: CGDA Clarification order dated 27.02.2023 र्यालय, रक्षा लेखा महानियंत्रक उलान बटा रोड, पालम, दिल्ली छावनी – 110010 Office of Controller General of Defence Accounts Ulan Batar Road, Palam, Delhi Cantt.- 110010 ABFU-4052/7/2020-PAYC-Part(1) Dated: 27.02.2023. To All Regional PCSDA/CsDA PCDA (QO) Pune PCDA (Navy) PCDA’s (AF) CDA (IT&SDC)…
Extension of time limit for compliance to be made for claiming any exemption under Section 54 to 54GB of the Income-tax Act, 1961 (‘Act’) in view of the then-Covid-19 pandemic: CBDT Circular No 1 of 2023 F. No. 225/ 49/2021-ITA-II Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes *****…
Explanatory Notes to the provisions of the Finance Act, 2022 – Income Tax Circular No. 23/2022 dated 03.11.2022 CIRCULAR NO. 23/2022 F. No. 370142/48/2022-TPL Government of India Ministry of Finance Department of Revenue (Central Board of Direct Taxes) Dated the 3rd of November , 2022 EXPLANATORY NOTES TO THE PROVISIONS OF THE FINANCE ACT, 2022…
Forms and Declaration for amount received from any person for Tax Relief in the repercussion of Covid-19 under Section 56 (2)(x): IT Notification No. 91/2022 dated 05.08.2022 MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 5th August, 2022 S.O. 3704(E).—In exercise of the powers conferred by clause (XII)…
Documents to be submitted by Employees for Tax Relief in the repercussion of Covid-19 under Section 56 (2)(x): IT Notification No. 90/2022 dated 05.08.2022 Ministry of Finance (Department of Revenue) (Central Board of Direct Taxes) NOTIFICATION New Delhi, the 5th August, 2022 S.O. 3703(E).—In exercise of the powers conferred by sub-clause (c) of clause (ii)…
Conditions for exemption of money received from employer or any person for Covid-19 Treatment under Section 56 (2)(x) – Income Tax Notification No. 92/2022 dated: 05.08.2022 MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 5th August, 2022 S.O. 3705(E).— In exercise of the powers conferred by clause (XIII)…
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…
Rationalisation of Income Tax Slabs: Rajya Sabha QA GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF REVENUE RAJYA SABHA UNSTARRED QUESTION NO. 1524 TO BE ANSWERED ON TUESDAY, MARCH 15, 2022/ PHALGUNA 24, 1943 (SAKA) RATIONALISATION OF INCOME TAX SLABS 1524. SHRI G. C. CHANDRASHEKHAR. Will the Minister of FINANCE be pleased to state: (a)…