Income-tax (Amendment) Rules, 2024 - Amendment to Rule 12 & Form ITR-2
As per the Notification No. 142 /2021/F. No. 300196/4/2021-ITA-I dated 31/12/2021 subject to certain conditions, following income of the Bureau of Indian Standards (BIS) (PAN:AAATB0431G) will be exempt from tax under section 10(46) of Income Tax Act; (i) Certification fee; (ii) Sale of standards, provided there is no profit involved; and (iii) Income from interest. This notification shall be applicable for the Assessment Years 2021-22 till 2025-26.
The CBDT has issue a Notification No. 141/2021/F.No.279/Misc./66/2014-SO-ITJ(Pt.1) effective from 29th December, 2021 to give effect to faceless appeal scheme introduced on 28th December 2021, Income-tax authorities with their headquarters have been specified to exercise the powers and perform functions, in order to facilitate the conduct of e-appeal Proceedings, in respect of such territorial area or persons or class of persons or incomes or class of incomes or cases or class of cases. This notification is applicable to all the appeals filed under section 246A or 248 of the Act, pending or instituted on or after 29th December, 2021.
A Notification No. 140/2021/F. No. 370142/59/2021-TPL dated 29th December, 2021 has been issued with regard to special provisions for newly established undertakings in Special Economic zone. A new Form 56FF has been introduced under Rule 16DD of Income Tax for claiming deduction under section 10A (1A) (ii) the modalities of which are being prescribed in section 10A (1B) (b) of the Income Tax Act, 1961 with regard to ‘Special Economic Zone Reinvestment Allowance Reserve’.
A new faceless appeal scheme has been introduced by CBDT vide Notification No. 139/2021/F. No. 370142/66/2021-TPL dated 28th December, 2021, where in procedure has been led down for the appeal in front of the CIT (Appeals) of Income Tax.
Income-tax (34th Amendment) Rules, 2021 - Insertion of Rule 2DD & Form No. 10-II - Computation of exempt income of specified fund for the purposes of clause (23FF) of section 10 of the Income Tax Act, 1961
Income Tax: e-Verification Scheme, 2021
Income-tax (33rd Amendment) Rules, 2021-Insertion of Rule 21AK - Conditions for the purpose of clause (4E) of section 10
Amendment to Pradhan Mantri Garib Kalyan Deposit Scheme, Notification No S.O. 4061 (E)
Format, Procedure and Guidelines for submission of Statement of Financial Transactions (SFT) for Dividend income
Central Government makes the directions of Faceless Penalty Scheme, 2021
U/s 10(46) of IT Act 1961 - Central Government notifies ‘Haryana State Legal Services Authority’ in respect of the specified income arising to that Board.
Income tax (32nd Amendment), Rules, 2021.
U/s 10(46) of IT Act 1961 - Central Government notifies ‘Assam Building and Other Construction Workers Welfare Board’ in respect of the specified income arising to that Board.
Central Government hereby specifies the pension fund, namely, the School Employees Retirement System of Ohio
e-Settlement Scheme, 2021
U/s 35(1) (ii) of IT Act 1961 Central Government approved ‘Pimpri Chinchwad College of Engineering’, Pune
U/s 10(46) of IT Act 1961 - Central Government notifies ‘Gujarat State Aids Control Society’ in respect of the specified income arising to that Society.
U/s 10(46) of IT Act 1961 - Central Government notifies ‘Madhya Pradesh Pollution Control Board’ in respect of the specified income arising to that Board.
U/s 10(46) of IT Act 1961 - Central Government notifies ‘Chandigarh Pollution Control Committee’ in respect of the specified income arising to that Committee.