Income Tax notification

Explanatory Notes to Provisions of Finance Act, 2018

Circular No. 8/2018-Income Tax (26/12/2018)

CBDT releases Explanatory Notes to Provisions of Finance Act, 2018 vide Circular No. 8/2018 dated 26th of December, 2018 and explained changes made vide union budget 2018. Text of the Circular is as follows:-...

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CBDT withdraws Transport allowance of Rs. 1,600 pm

Notification No. 17/2018-Income Tax [S.O. 1517(E)] (06/04/2018)

CBDT has omitted provision related to exemption of transport allowance of Rs. 1,600 per month granted to an employee other than an employee, who is blind or deaf and dumb or orthopaedically handicapped with disability of lower extremities, to meet his expenditure for the purpose of commuting between the place of his residence and the [&he...

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24 FAQs on Taxation of Long Term Capital Gain on Shares

F.No. 370149/20/2018-TPL (04/02/2018)

Since the introduction of the Finance Bill, 2018 on 1st February, 2018, several queries have been raised in different fora on various issues relating to the proposed new tax regime for taxation of long-term capital gains. The responses to these queries are provided below....

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