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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

23 Sep 20
MCA notifies NCLT (Recruitment, Salary and other Terms and Conditions of Service of Staff Car Drivers) Rules, 2020
GST Department moves Metropolitan Magistrate Court for Judicial Remand of person alleged in 29cr ITC Fraud case
CBDT allows One-time relaxation for Verification of Income Tax Returns by EVC/ITR-V for AY 2015-16, 2016-17, 2017-18, 2018-19
No Refund on entire Unutilised ITC accumulated on account of being subjected to an Inverted Duty Structure: Madras HC
Gujarat HC directs Release of Goods and Vehicle Confiscated on deposit of Rs.1.70 Lakh along with Bank Guarantee
22 Sep 20
Advance given for Purchase of Flat prior to Sale of Asset eligible for Capital Gain Deduction: Madras High Court
GST: Notional Interest on Security Deposit, Property Tax forms part of ‘Rental Income’, if it influences the Value of Supply, rules AAR
ITAT deletes Penalty against Balaji Telefilms on grounds of non-specific charges
CBIC waives off Late Fee on failure to furnish the return in FORM GSTR-10
CBIC extends due date of GST compliance of E-Way Bill in respect of goods sent/taken on approval for Sale/Return are removed before the Supply takes place
21 Sep 20
Finance Ministry issues Advisory to PSBs to moot action against Personal Guarantors of Corporate Debtors
CBIC enables Matching Offline Tool to compare ITC auto-drafted in Form GSTR-2B with Purchase Register
21 states accept Rs 97,000 crore borrowing proposal to meet GST shortfall
Govt signals it has support to push its GST formula
20 Sep 20
Revenue cannot take different Stand at different Point of Time and Impose Additional Duty Arbitrarily: Madras High Court
21 States Choose Centres Borrow Option As Way Out Of GST Dues Row
Customs Officer / DRI empowered to arrest a person on reasonable apprehension of Smuggling: Gujarat HC
19 Sep 20
CBIC issues administrative instruction for Recovery of Interest on Net Cash liability retrospectively from July 1, 2017
Madras High Court directs Authority to make available the Scrutiny Report submitted by Superintendent to petitioner
Govt looks to extend faceless assessment scheme; changes in I-T, GST, Finance Acts
18 Sep 20
Gujarat High Court quashes VAT Order and Demand notice passed due to Procedural Lapses
Karnataka HC allows Petitioner to file application seeking Revocation of Cancellation of GST Registration
After Toyota’s tax crib, govt says GST is fair, auto makers must cut royalty to parent firms
Two new services introduced on portal for filing monthly GST returns; know benefits here
GST rate on cars lower than pre-GST regime; auto companies should cut royalty payments: Finance ministry
17 Sep 20
TDS will be Refunded Post Filing an Income Tax Return
Automobile Industry Seeking Tax Cuts to Counter BS-VI Price Hike
UN Tax Committee proposes to include Software payments in the definition of Royalties
NAA finds Pinky Sales guilty for not passing benefit of GST Reduction on Footwear to its customers
16 Sep 20
Relief to Cummins: CESTAT directs Adjudicating Authority to grant Refund of Service Tax paid for Services received in SEZ
GST Council can ask Centre to let states borrow to compensate shortfall: Attorney General
Good news for Taxpayers: Delinking of Credit Note/Debit Note with Original Invoice has been implemented on the GSTN portal
Good news for Taxpayers: Delinking of Credit Note/Debit Note with Original Invoice has been implemented on the GSTN portal
14 Sep 20
13 States Opt For Centres Borrow Plan Amid GST Compensation Row
Customs Department has been remiss in not proceeding with the enquiry and completing the adjudication in time, says Madras HC
Extend FY19 GST annual return filing deadline by 3 months: ICAI
Revised Amount must be taken as quantified amount to test eligibility of Hi-Lite Project for availing benefit of SVLDR Scheme 2019: Kerala HC
13 Sep 20
13 States Opt For Centres Borrow Plan Amid GST Compensation Row
Patrator liable to take GST Registration and pay GST on Supply of Goods and Services: AAR
12% GST chargeable on Biofertilizers namely ‘Rhyzomyx’ and ‘Rhyzomyco’: AAR
12 Sep 20
ASSET provided to school/educational organization is exempted from payment of GST: AAR
Special CBI Court denies Anticipatory Bail to CGST official involved in Bribery Case
Activity of providing Auditing, Accounting, Taxation to the Sardar Sarovar Narmada Nigam Ltd. is liable to GST: AAR
11 Sep 20
ITC available on GST charged by Service Provider on Hiring of Bus / Motor Vehicle for Transportation of Employees to & from Workplace: AAR
IRDAI seeks GST rate cut from 18% to 5% on life and health insurance premiums
Patiala House Court denies Bail to accused for creating Fake Firms and claiming Fraudulent ITC
No GST Exemption on Leasing of Immovable Property in the Nature of Hotel, Inn, Guest House: Karnataka AAAR
MCA extends last date of filing Cost Audit Report
10 Sep 20
Advance received from Developer not to constitute ‘Income from Other Sources’: Madras High Court
Centre softens stand on GST dues to states
MCA grants Extension of Time for holding AGM for Financial Year 2019-20
Rajasthan demands full compensation for loss of revenue due to GST
Commissioner of GST and CX (Appeals) grants Service Tax Refund for Flat cancellation

Due Date Reminder

Jan Feb Mar Apr May June
July Aug Sep Oct Nov Dec
All
30 Sep 20 furnishing of challan-cum-statement in respect of tax deducted u/s 194-IA in month of August 2020
30 Sep 20 Due date for furnishing of challan-cum-statement in respect of tax deducted u/s 194-IB in month of August 2020
30 Sep 20 Audit report under section 44AB for the assessment year 2020-21 in the case of a corporate-assessee or non-corporate assessee (who is required to submit his/its return of income on September 30, 2020).
30 Sep 20 Annual return of income for the assessment year 2020-21 if the assessee (not having any international or specified domestic transaction) is (a) corporate-assessee or (b) non-corporate assessee (whose books of account are required to be audited) or (c) wor
07 Oct 20 Payment of TDS of September 2020 (For Govt deductors paying through challan)
10 Oct 20 Return of TDS (Tax deducted at source) with payment of tax (GSTR-7) for the month of September 2020
10 Oct 20 Statement by e-commerce operator with tax (GSTR-8) for the month September 2020
11 Oct 20 Filing of GSTR-1 for the month of Sep, 2020
13 Oct 20 Filing of GSTR-6 for input service distributor for the month of Sep 2020
15 Oct 20 Due date for issue of TDS Certificate for tax deducted under Section 194-IA in the month of August, 2020.
15 Oct 20 Due date for issue of TDS Certificate for tax deducted under Section 194-IB in the month of August, 2020
15 Oct 20 P.F Payment for the month of September 2020
15 Oct 20 ESIC Payments for the of September 2020
15 Oct 20 Submission of Forms No.15G, 15H,27C for the quarter ending 30th Sep, 2020
15 Oct 20 furnishing of Form 24G by an office of Government where TDS for m/o Sep 20 has been paid without production of a challan
18 Oct 20 Filing of CMP-08 for the quarter Jul-Sep 2020
20 Oct 20 Filing of GSTR-5 for Non-resident foreign taxpayer for the month of Sep 2020
20 Oct 20 GST Return for NRI OIDAR service provider for the month of Sep 2020 (GSTR 5A)
30 Oct 20 furnishing of challan-cum-statement in respect of tax deducted u/s 194-IA in month of September 2020
30 Oct 20 Due date for furnishing of challan-cum-statement in respect of tax deducted u/s 194-IB in month of September 2020
31 Oct 20 Filing of GSTR-1 for the quarter Jul-Sep, 2020
31 Oct 20 Quarterly statement of TDS deposited for the quarter ending September 30, 2020
07 Nov 20 Payment of TDS of October 2020 (For Govt deductors paying through challan)
10 Nov 20 Statement by e-commerce operator with tax (GSTR-8) for the month October 2020
10 Nov 20 Return of TDS (Tax deducted at source) with payment of tax (GSTR-7) for the month of October 2020
11 Nov 20 Filing of GSTR-1 for the month of Oct, 2020
13 Nov 20 Filing of GSTR-6 for input service distributor for the month of Oct 2020
14 Nov 20 Due date for issue of TDS Certificate for tax deducted under Section 194-IA in the month of September, 2020.
14 Nov 20 Due date for issue of TDS Certificate for tax deducted under Section 194-IB in the month of September, 2020
15 Nov 20 P.F Payment for the month of October 2020
15 Nov 20 ESIC Payments for the month of October 2020
15 Nov 20 furnishing of Form 24G by an office of Government where TDS for m/o Oct 20 has been paid without production of a challan
15 Nov 20 Quarterly TDS certificate (in respect of tax deducted for payments other than salary) for the quarter ending September 30, 2020
20 Nov 20 Filing of GSTR-5 for Non-resident foreign taxpayer for the month of Oct 2020
20 Nov 20 GST Return for NRI OIDAR service provider for the month of Oct 2020 (GSTR 5A)
30 Nov 20 furnishing of challan-cum-statement in respect of tax deducted u/s 194-IA in month of October 20
30 Nov 20 Due date for furnishing of challan-cum-statement in respect of tax deducted u/s 194-IB in month of October 2020
07 Dec 20 Payment of TDS of November 2020 (For Govt deductors paying through challan)
10 Dec 20 Return of TDS (Tax deducted at source) with payment of tax (GSTR-7) for the month of November 2020
10 Dec 20 Statement by e-commerce operator with tax (GSTR-8) for the month November 2020
11 Dec 20 Filing of GSTR-1 for the month of Nov, 2020
13 Dec 20 Filing of GSTR-6 for input service distributor for the month of November 2020
15 Dec 20 Due date for issue of TDS Certificate for tax deducted under Section 194-IA in the month of October, 2020.
15 Dec 20 Due date for issue of TDS Certificate for tax deducted under Section 194-IB in the month of October, 2020
15 Dec 20 P.F Payment for the month of November 2020
15 Dec 20 ESIC Payments for the month of November 2020
15 Dec 20 furnishing of Form 24G by an office of Government where TDS for m/o Nov 20 has been paid without production of a challan
20 Dec 20 Filing of GSTR-5 for Non-resident foreign taxpayer for the month of Nov 2020
20 Dec 20 GST Return for NRI OIDAR service provider for the month of November 2020 (GSTR 5A)
Readmore...

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