Income Tax on Money brought in India by NRI

By | January 22, 2022

Income Tax on Money brought in India by NRI Facts of the Case During assessment year under consideration, assessee NRI had acquired two residential properties in India. Assessing Officer formed an opinion that assessee had failed to discharge onus cast upon him in terms of provisions of section 68 and he made addition under section 68… Read More »

CBDT Circular No. 2 of 2022 for Income Tax on ULIP Insurance Policies

By | January 20, 2022

How to pay Income Tax on ULIP Insurance Policies I CBDT Clarifications Circular No. 2 of 2022 F. No.370142 /61/2021-TPL Government of India Ministry of Finance Department of Revenue (Central Board of Direct Taxes) *********** Dated: 19th January, 2022 Sub: Guidelines under clause (10D) section 10 of the Income-tax Act, 1961 – reg. Clause (10D)… Read More »

e-advance rulings Scheme, 2022 Notified by CBDT

By | 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 »