Category Archives: IT Notification

Notification No. 93/2020 : Extension of Date for ITR for AY 2020-21

By | January 1, 2021

NOTIFICATION New Delhi, the 31st December, 2020 S.O. 4805(E).—In exercise of the powers conferred by sub-section (1) of section 3 of the Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act, 2020 (38 of 2020) (hereinafter referred to the Act) and in supersession of the notification of the Government of India in the… Read More »

Notification No 88/2020 Income tax return Date Extended AY 2020-21

By | October 30, 2020

Income tax return Date Extended AY 2020-21 MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 29th October, 2020 TAXATION AND OTHER LAWS S.O. 3906(E).—In exercise of the powers conferred by sub-section (1) of section 3 of the Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act,… Read More »

Due Date Extended for Vivad Se Vishwas Scheme to 31-12-2020 : Notification No. 85/2020

By | October 28, 2020

The Central Government has extended the due date for filing a declaration to opt for Vivad Se Vishwas Scheme to 31-12-2020. Further, where tax payment is made on or before 31-03-2021, no additional charges shall be levied. However, where payment is made on or after 01-04-2021, additional charges as specified under section 3 of the… Read More »

Notification No. 61/2020 : Direction for Faceless Assessment u/s 143(3B)

By | August 15, 2020

NOTIFICATION New Delhi, the 13th August, 2020 INCOME-TAX S.O. 2746(E). —In exercise of the powers conferred by sub-section (3B) of section 143 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby makes the following amendments in the notification of the Government of India, Ministry of Finance (Department of Revenue), Central Board of… Read More »

Income Tax (18th Amendment) Rules 2020 Download Notification No. 55/2020

By | July 29, 2020

MINISTRY OF FINANCE (Department of Revenue) [CENTRAL BOARD OF DIRECT TAXES] NOTIFICATION New Delhi, the 28th July, 2020 INCOME-TAX G.S.R. 469(E).—In exercise of the powers conferred by sub-section (7) of section 115UB read with section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules… Read More »

Notification No. 52/2020 Income tax : Agencies Notified u/s 138

By | July 23, 2020

MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 21st July, 2020 S.O. 2411(E).—In pursuance of sub-clause (ii) of clause (a) of sub-section (1) of Section 138 of the Income-tax Act, 1961, the Central Government hereby specifies the following bodies/agencies for the purposes of the said clause. 1. Cabinet… Read More »

National Pension Scheme Tier II- Tax Saver Scheme 2020 Notified for 80C deduction

By | July 8, 2020

National Pension Scheme Tier II- Tax Saver Scheme 2020 Notified for 80C deduction MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 7th July, 2020 S.O. 2232(E).—In exercise of the powers conferred by clause (xxv) of sub-section (2) of section 80C of the Income-tax Act, 1961 (43 of 1961),… Read More »

Employee eligible to claim exemption for tour, travel and conveyance exp if opting for Sec. 115BAC : Notification

By | June 29, 2020

The CBDT has amended Rule 2BB to enable assessee opting for alternative tax regime under section 115BAC to claim exemption for tour, travel and conveyance expenses incurred in performance of duties. Further, allowance granted to a disabled employee for commutation between residence and office shall also be exempt. However, while determining the value of perquisite,… Read More »

CII Index FY 2020-21 Notified 301

By | June 13, 2020

CII Index FY 2020-21 Notified 301 MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi, the 12th June, 2020 Income-Tax S.O. 1879(E).—In exercise of the powers conferred by clause (v) of the Explanation to section 48 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby makes the… Read More »