Category: Section

All about Section 80CCC deduction

September 27, 2021 By newtaxindia Off

Section 80CCC – Contribution to certain Pension FundsDeduction is allowed if the assessee has paid any amount towards any annuity plan of Life Insurance Corporation of India (LIC) or any other insurer for receiving pension from pension fund. Pension received from the policy is also…

Companies Act 2013 List of all Sections

September 14, 2021 By Damodhar C Off

DECLARATION AND PAYMENT OF DIVIDEND 123 Declaration Of Dividend 124 Unpaid Dividend Account 125 Investor Education And Protection Fund 126 Right To Dividend, Right Shares And Bonus Shares To Be Held In Abeyance Pending Registration Of Transfer Of Shares 127 Punishment For Failure To Distribute…

CBDT amends Rule 11UAC of the Income Tax Rules, 1962

September 13, 2021 By Damodhar C Off

The CBDT has notified Income-tax (28th Amendment) Rules, 2021 to amend Rule 11UAC of the existing Income-Tax Rules, 1962. The notification shall come into force from 1st April, 2022 and shall be applicable from A.Y. 2022-23 onwards. Vide this notification, the CBDT has inserted the…

TDS on withdrawal from EPF – Section 192A

September 11, 2021 By Damodhar C Off

You know that Employees Provident Fund and Miscellaneous Provisions Act, 1952 are applicable to specified employers. Under EPF Schme,1952 it is liability of an employer to deposit specified amount of salary of the employee along with his share with the Provident Fund Commissioner. The contribution…

CBDT inserts new Rule 26D

September 10, 2021 By Damodhar C Off

CBDT inserts new Rule 26D – Furnishing of Declaration and Evidence of Claims by Specified Senior Citizen u/s 194P The Central Board of Direct Taxes has released the Income-tax (26th Amendment) Rules, 2021 to further amend the Income-tax Rules, 1962. Under the amended rules, CBDT…

Deduction under Income Tax section 80JJAA Additional Employee Cost

July 27, 2021 By Damodhar C Off

The deduction available under section 80JJAA of the Income Tax Act, 1961 (the ‘Act’) encourages organizations to generate employment and an additional 30% in additional employee cost for 3 assessment years (‘AYs’) commencing from AY Allows deduction. The additional employee cost that is borne. Eligibility:…