Form 10DA
An assessee desiring to claim employment incentive under section 80JJAA for recruiting new employees during the tax year is required to furnish a report from a practicing Chartered Accountant in Form 10DA
Form 26QB
Section 194-IA of Income Tax Act 1961 sets a few rules related to buying and selling immovable property such as land, building, and more.
Form 56 FF
Section 10A specifies the deductions allowed to undertakings setup in SEZ along with respective conditions and filings of forms / returns.
Form 56F to be furnished by Units in SEZ under Rule 16D
Units in SEZ are required to furnish report from a Chartered Accountant in Form 56F under Rule 16D of Income Tax Rules, 1962.
Quarterly Filing of Form 15-CD by Units of IFSC
The Units of IFSC operating in India making remittances outside India to a non-resident, not being a company, or to a foreign company, any sum chargeable under the Provisions of Income Tax Act, or for any sum which is not chargeable under the Provisions of Income Tax Act are required to furnish Quarterly Statement for each quarter of the Financial Year in Form 15 CD
Application for registration of charitable / religious trust and Audit Report
Application for registration of charitable / religious trust and Audit Report under clause b of tenth provisio to clause 23C of Section 10 & sub clause ii of clause b of Section 12A (1) of the Income Tax Act,1961
Notification on the Cost Inflation Index (CII)
The CBDT has stated that the ‘Cost Inflation Index (CII)’ for Fiscal Year 2023-24 (Assessment Year 2024-25) will be 348, up from 331 released earlier for the previous fiscal year 2022-23
Obligation to furnish statement of financial transaction or reportable account
Any Person responsible for maintaining books of account other document containing a record of any specified financial transaction or any reportable account as may be prescribed shall furnish a statement in respect of such specified financial transaction or such reportable account to the Income Tax authority/such authority as may be prescribed.
Notification by CBDT with respect to classes of person for the purpose of section 56 of income tax act 1961
Section 56(2) of Income Tax Act, 1961 deals with incomes, shall be chargeable to income-tax under the head “Income from other sources”.
Tax exemption limit on leave encashment increased to Rs 25 lakh for non-government salaried employees
The existing limit of tax exemption on leave encashment for non-government salaried employees stands revised from Rs. 3 Lakh to Rs. 25 lakh with effect from April 1, 2023.