Daily Archives: January 19, 2022

MINISTRY OF FINANCE DEPARTMENT OF REVENUE (CENTRAL BOARD OF DIRECT TAXES) (INCOME-TAX) NOTIFICATION New Delhi, the 18th January, 2022 S.O. 248(E).—In exercise of the powers conferred by sub-sections (9) and (10) of section 245R and subsections (2) and (3) of section 245W of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby makes… Read More »

Section 45(1B) provides that when a person receives an amount under ULIP, to which exemption under Section 10(10D) does not apply, any profits arising from such receipt shall be chargeable to tax under the head capital gains. The CBDT has notified Rule 8AD for computation of income deemed as capital gains in such cases. MINISTRY… Read More »