TMI Short Notes

TMI Short Notes on various issues

551. Reference to the Principal Commissioner or Commissioner (PCIT/CIT) for the cancellation of registration/approval

     ---

552. Penalty for passing on unreasonable benefits to trustee or specified persons

     ---

553. Amendment in the provisions of section 179 of the Act

     ---

554. Rationalization of the provisions of sections 271AAB, 271AAC and 271AAD of the Act

     ---

555. Rationalization of provisions relating to assessment and reassessment

     ---

556. Set off of loss in search cases - Amendment in the provisions of section 79A of the Act

     ---

557. Amendment in Faceless Assessment under section 144B of the Act

     ---

558. Faceless Schemes under the Act

     ---

559. Similar amendment is proposed in Section 271C.

     ---

560. Alignment of the provisions relating to Offences and Prosecutions under Chapter XXII of the Act

     ---

561. Cash credits under section 68 of the Act

     ---

562. Amendment in the provisions of section 248 of Income-tax Act and insertion of new section 239A

     ---

563. Withdrawal of exemption under clauses (8), (8A), (8B) and (9) of section 10 of the Income-tax Act, 1961- reg

     ---

564. Withdrawal of concessional rate of taxation on dividend income under section 115BBD

     ---

565. Scheme for taxation of virtual digital assets

     ---

566. Provisions pertaining to bonus stripping and dividend stripping to be made applicable to securities and units

     ---

567. Widening the scope of reporting by producers of cinematograph films or persons engaged in specified activities

     ---

568. TDS on benefit or perquisite of a business or profession

     ---

569. Rationalization of provisions of TDS on sale of immovable property

     ---

570. Rationalization of provisions of section 206AB and 206CCA to widen and deepen tax-base

     ---

571. Facilitating strategic disinvestment of public sector companies

     ---

572. Exemption of amount received for medical treatment and on account of death due to COVID-19

     ---

573. Condition of releasing of annuity to a disabled person

     ---

574. Incentives to National Pension System (NPS) subscribers for state government employees

     ---

575. Tax Incentives to International Financial Services Centre (IFSC)

     ---

576. Rationalization of provisions of the Act to promote the growth of co-operative societies

     ---

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

     ---

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

     ---

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

     ---

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

     ---

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

     ---

582. Amendments related to successor entity subsequent to business reorganization

     ---

583. Clarification regarding treatment of cess and surcharge

     ---

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

     ---

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

     ---

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

     ---

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

     ---

588. 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

     ---

589. Tax Incentives Exemption for LTC Cash Scheme

     ---

590. Incentives for affordable rental housing

     ---

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

     ---

592. Issuance of zero coupon bond by infrastructure debt fund

     ---

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

     ---

594. Facilitating strategic disinvestment of public sector company

     ---

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

     ---

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

     ---

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

     ---

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

     ---

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

     ---

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

     ---

1 ....8910111213141516........ 17