Category Archives: Direct Tax

CBDT clarifies Employer’s TDS obligation under New ‘default’ Tax Regime us 115BAC

Posted on April 6, 2023

CBDT vide Circular No. 4/2023 dated 5th April, 2023 has issued clarifications regarding employer’s liability w.r.t. TDS on salary in the light of new default personal tax regime introduced by the Finance Act, 2023 u/s 115BAC(1A). CBDT has issued the … Continue reading →

Posted in Direct Tax |

Amendments made in Finance Bill, 2023

Posted on March 24, 2023

Scope of newly introduced Section 50AA (Special provision for computation of capital gains in case of Market Linked Debenture) expanded to include Specified Mutual Funds Amendment has been made to the newly introduced Section 50AA in Finance Bill 2023 to include … Continue reading →

Posted in Direct Tax |

CBDT apprises on e-Verification Scheme’s Process, Stats & Benefits

Posted on March 17, 2023

CBDT had notified a e-Verification Scheme, 2021 (the “Scheme”) on 13th December, 2021 to encourage voluntary tax compliance and to facilitate a transparent and non-intrusive tax administration. The Department has been collecting information of financial transactions from multiple sources and … Continue reading →

Posted in Direct Tax |

Co. Law Rules Changes

Posted on January 25, 2023

The Ministry of Corporate Affairs vide its notification dated January 20, 2023 has amended the Companies (Appointment and Qualification of Directors) Rules, 2014. The amended rules have come into effect from January 23, 2023. Certain key changes are as follows: … Continue reading →

Posted in Direct Tax |

Extension of time limit for compliance to be made for claiming exemption under Section 54 to Section 54GB

Posted on January 9, 2023

CBDT has issued circular No.1 of 2023 dated 6 January 2023 for extension of last day for compliances by taxpayers such as investment, deposit, payment, acquisition, purchase, construction or such other action, by whatever name called, for claiming any exemption … Continue reading →

Posted in Direct Tax |