Monthly Archives: May 2023

CBDT releases notifications easing constraints of Angel Tax

Pursuant to Press Release dated 19.05.2023 proposing changes with respect to Angel Tax, CBDT has issued notification no. 29 dated 24.05.2023. CBDT notifies the class or classes of persons for inapplicability of Section 56(2)(viib) which are: Government and Government related … Continue reading

Posted in Direct Tax |

Leave Encashment Exemption Limited Increased to Rs.25 Lakh

CBDT increased limit of Leave Encashment exemption u/s 10(10AA) to Rs. 25 Lakhs for Non- Government Employees CBDT vide Notification No. 31/2023 dated 24.05.2023 has notified Rs. 25 Lakhs as exemption limit under Section 10(10AA) with regard to Leave Encashment … Continue reading

Posted in Direct Tax |

Proposed Changes in Rule 11UA

Central Board of Direct Taxes (CBDT), in a press release dated 19 May 2023, proposed changes to Rule 11UA for the purpose of the valuation of shares. It is proposed to include 5 more valuation methods available for non-resident investors … Continue reading

Posted in Direct Tax |