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Budget 2022

Supreme Court holds Education Cess not Allowable as Expenditure u/s 40(a)(ii) as amended retrospectively in Budget 2022 [Read Order]

Manu Sharma

The Supreme Court has held the education cess paid to be not allowable as expenditure under Section 40(a)(ii) of the Income Tax Act, 1961 amended...

[BREAKING] Finance Ministry Notifies Finance Act, 2022: Know the Key Changes [Read Act]

Lucky Bill Scheme - Kerala Budget 2022 - kerala budget - Budget 2022 - Mobile App - GST - GST invoices - Invoices - Taxscan

Kerala Budget 2022 announces Mobile App to upload GST Invoices

Budget 2022 & Real Estate: Know the Changed TDS Rules and Its implications on Home Buyers and...

The Tale of Electronic Ledgers in GST – Union Budget 2022-23

Indirect Tax takeaways from The Finance Bill, 2022

Budget 2022-2023 comes at a time when work from either home/ office continues to be in vogue. The economy must keep running and taxes always roll-on. In the last few years, the legislature has taken...

Finance Bill 2022 changes Eligibility Criteria for Section 80DD Benefits: All you need to know

The Finance Bill 2022 has changed the Eligibility Criteria for Section 80DD Benefits. Existing Provision Eligibility of Claim Deduction under Section 80DD To be eligible for the claim...

Budget 2022: Provision relating to Rationalisation of the provision of Charitable Trust and Institutions

The Budget 2022 has proposed the Provision relating to Rationalisation of the provision of Charitable Trust and Institutions. Income of any fund or institution or trust or any university or...

Penalty for Failures during Income Tax Proceedings raised to Rs. 500 after 23 Years

The Finance Bill, 2022 has made an amendment to the provisions of Section 272A of the Income Tax Act, 1961, raising the penalty fee for prescribed failures, after 23 years of the incorporation of the...

Finance Bill 2022 provides Clarification on Deduction on Payment of Interest only on Actual Payment [Read Finance Bill]

The Finance Bill, 2022 has provided the Clarification regarding deduction on payment of interest only on actual payment. Certain taxpayers are claiming deduction under section 43B on account of...

Finance Bill, 2022: Commissioner (Appeals) can impose Penalty in cases involving Undisclosed Income post-Search proceedings

The Finance Bill, 2022 has proposed to amend the provisions of Sections 271AAB, 271AAC and 271AAD of the Income Tax Act in order to empower the Commissioner of Income Tax (Appeals) to impose...

Budget 2022 proposes Amendments in Faceless Assessment and Scheme [Read Finance Bill]

The Budget 2022 has proposed the Amendments in Faceless Assessment and Scheme. The Central Government has undertaken a number of measures to make the processes under the Act, electronic, by...