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Income Tax Rules

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 399 items in 8 pages
1Short title and commencement
2Definitions
2ALimits for the purposes of section 10(13A)
2BConditions for the purpose of section 10(5)
2BAGuidelines for the purposes of section 10(10C)
2BBPrescribed allowances for the purposes of clause (14) of section 10
2BBACircumstances and conditions for the purposes of clause (19) of section 10
2BCAmount of annual receipts for the purposes of sub-clauses (iiiad) and (iiiae) of clause (23C) of section 10
2CGuidelines for approval under sub-clauses (iv) and (v) of clause (23C) of section 10
2CAGuidelines for approval under sub-clauses (vi) and (via) of clause (23C) of section 10
2DGuidelines for approval under clause (23F) of section 10
2DAGuidelines for approval under clause (23FA) of section 10
2EGuidelines for approval under clause (23G) of section 10
2FGuidelines for setting up an Infrastructure Debt Fund for the purpose of exemption under clause (47) of section 10
3Valuation of perquisites
3AExemption of medical benefits from perquisite value in respect of medical treatment of prescribed diseases or ailments in hospitals approved by the Chief Commissioner
4Unrealised rent
5Depreciation
5AForm of report by an accountant for claiming deduction under section 32(1)(iia)
5AAPrescribed authority for investment allowance
5ABReport of audit of accounts to be furnished under section 32AB(5)
5ACReport of audit of accounts to be furnished under section 33AB(2)
5ADReport of audit of accounts to be furnished under section 33ABA(2)
5BDevelopment rebate
5CGuidelines, form and manner in respect of approval under clause (ii) and clause (iii) of sub-section (1) of section 35
5DConditions subject to which approval is to be granted to a research association under clause (ii) or clause (iii) of sub-section (1) of section 35
5EConditions subject to which approval is to be granted to a University, College or other Institution under clause (ii) and clause (iii) of sub-section (1) of section 35
5FPrescribed authority, guidelines, form, manner and conditions for approval under clause (iia) of sub-section (1) of section 35
6Prescribed authority15 for expenditure on scientific research
6APrescribed authority, services, etc., for agricultural development allowance
6AAPrescribed activities for export markets development allowance
6AAAPrescribed authority for the purposes of sections 35CC39 and 35CCA
6AABStatement of expenditure for claiming deduction under section 35CC
6AACPrescribed authority for the purposes of section 35CCB
6AADGuidelines for approval of agricultural extension project under section 35CCC
6AAEConditions subject to which an agricultural extension project is to be notified under section 35CCC
6AAFGuidelines for approval of skill development project under section 35CCD
6AAGConditions subject to which a skill development project is to be notified under section 35CCD
6AAHMeaning of expressions used in rule 6AAF and rule 6AAG
6ABForm of audit report for claiming deductions under sections 35D and 35E
6ABAComputation of aggregate average advances for the purposes of clause (viia) of sub-section (1) of section 36
6ABAAInfrastructure facility under clause (d) of the Explanation to clause (viii) of sub-section (1) of section 36
6ABBForm of report for claiming deduction under clause (xi) of sub-section (1) of section 36
6ACLimits and conditions for allowance of expenditure in certain cases
6BExpenditure on advertisement
6CExpenditure on residential accommodation including guest houses
6DExpenditure in connection with travelling, etc
6DDCases and circumstances in which a payment or aggregate of payments exceeding twenty thousand rupees may be made to a person in a day, otherwise than by an account payee cheque drawn on a bank or account payee bank draft
6DDAConditions that a stock exchange is required to fulfil to be notified as a recognised stock exchange for the purposes of clause (d) of proviso to clause (5) of section 43
6DDBNotification of a recognised stock exchange for the purposes of clause (d) of proviso to clause (5) of section 43

News Section

News

16 May 22
Penalty can’t be invoked under Income Tax Act without relevant Documents which substantiate Business Activities: ITAT
Re-Assessment based on Wrong Assumption and Information from Another Assessing Officer is Invalid: ITAT
15 May 22
GSTN provides Interim Solution for Incomplete GSTR-2B in Some Cases in GST Portal
PAN IT Rules for INR 20 Lakh Withdrawal, Opening Bank Current Account
14 May 22
8 Points to Check Eligibility for Income Tax Return Filing
CBDT Releases Guidelines for Income Tax Returns’ Scrutiny Selection
CBIC Chairman Secretly Discloses Plan for GST Revenue Buoyancy
13 May 22
MP Tax Law Bar Assoc. Requests Date Extension of Filing GSTR 4 Form
MP Tax Law Bar Assoc. Requests Date Extension of Filing GSTR 4 Form
New One Time Settlement Scheme for Tax Disputes in 2022: Telangana
12 May 22
Reversed GST Registration Cancellation Order Due to Lack of Notice: HC
ITAT: No Late Fee Levied If Filed TDS Statement on Time with Issues
Experts Advise GST Council to Resolve Transitional Credit Issue
09 May 22
Cryptocurrencies may soon attract 28% GST like betting and casinos in India
Section 153C Assessment cannot be based on Presumptions: ITAT
Make Necessary Changes in GST Portal to facilitate filing of TRAN-1 or Allow Manual Filing: Kerala HC to Dept
08 May 22
4% VAT applicable on AT-PLAST used in Mixing of Ready Mix Concrete: Allahabad HC
Works Contract Service for Construction of Residential Quarters to Employees of Kudankulam Nuclear Power Project attracts 18% GST: AAR 
Full Guide to Online Tax Dispute Resolution Scheme with Benefits
07 May 22
Modify TRAN-1 Form Facility by Creating Suitable Arrangements on GST Portal: Kerala HC
E-wayBills Drops in April; Signal for Lower May GST Collection
Delhi HC Response Over Non-Filing Under Faceless Scheme Due to V2 Portal Error
06 May 22
Gujarat HC Strikes Down Portion of GST Notification mandating 1/3rd Deduction of Land
Bangalore ITAT: No TDS Levy on Non-Resident Professional Services
05 May 22
Calcutta HC Refused Re-assessment Notice Under Section 148A
Assessee tries to Drag GST Proceedings: Madras HC refuses to quash Notice for Attachment and Sale of Immovable Property
Easy Guide to Integrate GST E-Way Bill with Vahan e-Portal
01 May 22
Levy of Advertisement Tax by Municipal Corporation has no Conflict with GST: Karnataka HC
GST Portal: GSTN releases GSTR-1 enhancements & improvements
GST Compliance Guide on Income for YouTubers & Bloggers
27 Apr 22
April GST collection likely to range from Rs 1.45-1.50 lakh crore: Finance Ministry sources
FM: April GST Revenue Collection May Touch INR 1.45-1.50Lakh CR
26 Apr 22
6% Equalisation Levy on Ads Spends on Entities Enrolled Outside India
Full Guide to GST and TDS Rate on Promotion Via Google Ads
Full Guide to Affidavit Under Section 3(3) for Indian People
25 Apr 22
No TDS since Routine Business Support Services can’t be treated as ‘Fee for Technical Services’: ITAT
Rajasthan Govt. issues Guidelines for Personal Hearing in Virtual Mode before GST and VAT Authorities
24 Apr 22
No TDS since Routine Business Support Services can’t be treated as ‘Fee for Technical Services’: ITAT 
GST Council for hiking rates of 143 items, asks states for views
19 Apr 22
Rajasthan Govt issues Circular for Correct Submission of GST Returns
GST on Lease / Rent Payments: PIL in Supreme Court challenging Constitutional Validity
VAT Refund can’t Withhold citing Mechanical Reasons: Punjab & Haryana HC
MCA registers highest ever 1.67 lakh Companies in FY 2021-22
GST Council may replace 5% rate with 3%, 8% slabs
18 Apr 22
Govt May Bring Cryptocurrency Under GST: Know What it Means For Investors
Superior Kerosene Oil Attracts 5% GST: AAR
17 Apr 22
All Additional Details of ITR Forms for AY 2022-23 e-Filing
Simple Guide to Tax Rule on Leave Encashment While Job or Quitting
Gujarat HC Alerts GST Officer for Issuing Unclear SCN Notice
16 Apr 22
HC Rejects Order of GST Registration Cancelling without Intimation Notice
MH AAR- GST Levy on Contract Composite Supply Consisting EarthWork
Center Govt Expects GST Rate Revision, Should Be Gradual

Due Date Reminder

Jan Feb Mar Apr May June
July Aug Sep Oct Nov Dec
All
20 May 22 Summary Return cum Payment of Tax for April by Monthly filers. (other than QRMP).
20 May 22 Monthly Return by Non-resident taxable person for April.
25 May 22 Deposit of GST of April under QRMP scheme.
28 May 22 Return for April by persons with Unique Identification Number (UIN) like embassies etc to get refund under GST for goods and services purchased by them.
30 May 22 Annual Return of LLP for FY 21-22.
30 May 22 Submission of a statement by Non-resident having a liaison office in India for FY 21-22.
30 May 22 Deposit of TDS u/s 194-IA on payment made for purchase of property in April.
30 May 22 Deposit of TDS on certain payments made by individual/HUF u/s 194M for April.
30 May 22 Issue of TCS certificates for January-March.
30 May 22 Half yearly Audit Report from October to March of Reconciliation of Share Capital by Unlisted Public Companies.
30 May 22 Annual Return of Foreign Company (Branch / Liaison /Project Office)
31 May 22 Annual Statement of financial transactions in respect of Dividend and Interest of FY 21-22.
31 May 22 Statement of reportable accounts for Calendar year 2021 by reporting financial institutions. File NIL statement if no transactions to report.
31 May 22 Application for allotment of PAN in case of non-individual resident person, which enters into financial transaction aggregating to Rs. 2,50,000 or more during last financial year and has not been allotted PAN.
31 May 22 Application for allotment of PAN in case of managing director, director, partner, trustee, author, founder, karta, chief executive officer, principal officer or office bearer of non-individual resident person, which enters into financial transaction aggre
31 May 22 Annual Report on Corporate Social Responsibility by Companies to whom CSR is applicable (as an addendum to applicable Form AOC-4 )
31 May 22 E-filing of Annual Statement of Donors & Donations received by charitable organisations u/s 80G/35. (Applicable wef FY 21-22)
31 May 22 E-filing of Annual Return for FY 21-22 by licensed Manufacturers [including Repackers and Relabellers] and Importers. Manufacturer exporters also to file annual return for food business instead of quarterly returns earlier.
31 May 22 Quarterly statements of TDS for January- March.
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Blog News

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  • 24 Feb 2020 INSTANT PAN - Instant PAN allotment in near to real time is available at free of cost. Individ...
  • 14 Feb 2020 TDS BULLETINE -
  • 28 Jan 2020 Surcharge Applicability -
  • 13 Jan 2020 Input Tax Credit Set off Rules -
  • 06 Jan 2020 New ITR-4 for AY 2021 notified by CBDT - CBDT released New ITR-4 (Sugam) for the AY 2020-21   Following are the key chang...
  • 28 Dec 2019 E-Assessment -
  • 19 Dec 2019 Key Decisions Taken at GST 38th Council Meeting: - 1) Due Date to file GST Annual Return and Audit (GSTR-9 & 9C) extended to 31...
  • 25 Nov 2019 RCM on Rent a Cab Service -
  • 09 Sep 2019 Section 194N of the Income Tax Act, 1961 - As you all aware from 1st September 2019  every i)Banking Company ii) Co-operati...
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