The Finance Act, 2021 amended the procedure for assessment or reassessment of income in the Act with effect from the 1st April, 2021.
Rates of income-tax in respect of income liable to tax for the assessment year 2022-23.
Virtual digital assets have gained tremendous popularity in recent times and the volumes of trading in such digital assets has increased substantially.
Over the past few years several tax concessions have been provided to units located in International Financial Services Centre (IFSC) under the Act to make it a global hub of financial services sector.
Clause (2) of section 17 of the Act, inter alia, provides the definition of “perquisite”. However, certain exceptions have been provided which shall not include as perquisites.
1. Section 79 of the Act provides for carry forward and set-off of losses in case of certain companies. Sub-section (1) of the said section, inter-alia, provides that where a change in shareholding has taken place during the previous year in the case
The Finance Bill, 2022 as introduced in Lok Sabha
he provisions of Finance Bill, 2022 (hereafter referred to as "the Bill"), relating to direct taxes seek to amend the Income-tax Act, 1961 (hereafter referred to as 'the Act'),
ICAI invites suggestions on tax proposals of Union Budget 2022-23 latest by 11th February, 2022.
Union Budget 2022 | Indirect Direct Tax Proposals