CBDT has issued Notification No. 31/2023-Income-Tax and Increased limit for tax exemption on leave encashment for non-government salaried employees The Income-tax Act, 1961, previously allowed a tax exemption on leave encashment for non-government salaried employees. This exemption was applicable to the period of earned leave they had accrued at the time of retirement, whether through superannuation […]
Notification under clause (ii) of the first proviso to clause (viib) of sub section (2) of section 56 of the Income tax Act CBDT issued Notification No. 30/2023 under the Income Tax Act. The notification states that the provisions of clause (viib) of sub-section (2) of section 56 shall not apply to consideration received by […]
CBDT issued Notification No. 29/2023- Income-Tax specifying certain classes of persons for the purpose of sub-clause (ii) of the first proviso to clause (viib) of sub-section (2) of Section 56 of the Income Tax Act. The notification includes government and government-related investors, banks or entities involved in insurance business subject to applicable regulations, and various entities […]
Disallowance made by CPC on account of delayed deposit of employees’ contribution to PF/ESI u/s 36(1)(va) rws 2(24)(x) of Act u/s 143(1) of Act is correct.-ITAT Kolkata
As per the Indian Income-tax Act, income arising from the sale of a capital asset is taxed under the head Income from Capital Gains. Under section 48, capital gains are calculated by deducting the followings from the full value of the consideration arising from the sale of property
Explore whether penal action resulting in the freezing of shares amounts to encumbrance under SEBI (SAST) Regulations, 2011. Understand the definition, implications, and disclosure obligations for better compliance.
In this article we are only discussing taxability of various other charges under GST laws collected by Real Estate developer
Circular No. 6 of 2023, issued by the Central Board of Direct Taxes, Ministry of Finance, Government of India, provides clarifications regarding provisions related to charitable and religious trusts. The circular explains the amendments made by the Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act, 2020, and their impact on registration and […]
Ministry of Finance Exempts Foreign Universities from UGC and AICTE Acts in International Financial Services Centres Ministry of Finance, Department of Economic Affairs, has issued a notification stating that the University Grants Commission Act, 1956, and the All India Council For Technical Education Act, 1987, will not apply to financial services related to courses offered […]
SEBI Consultation paper on proposal with respect to pro-rata and pari-passu rights of investors of Alternative Investment Funds (AIFs)
