Category Archives: Direct Tax

Hon’ble Supreme Court in the case of Nestle SA & Others [Civil Appeal No 1420/2023] has ruled that the issuance of a notification under Section 90 of the Income Tax Act, 1961 (the Act) is an indispensable and obligatory requirement … Continue reading →

Central Board of Direct Taxes vide Circular No. 19/2019, mandated that no communications related to notice, order, appeal, assessment, investigation or any other correspondence shall be issued by the Income Tax Department without a computer-generated Document Identification Number (DIN). Continue reading →

Central Board of Direct Taxes (CBDT) vide Notification No. 38/2023 dated 12th June, 2023 amends the e-Advance Rulings Scheme, 2022(Scheme), substitutes clause (iv) in Para 6(C) of the Scheme with new clause (iv) and inserts clause (v) in Para 6(C) … Continue reading →

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 →

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 →