Weekly Direct Tax Update
Dear Reader,
Greetings for the day!!!
We are pleased to share the recent Income Tax notification and circulars.
S.no Description Relevant links
1. CBDT notifies ‘Bhadohi Industrial Development Authority’ for claiming tax exemption u/s 10(46). Notification no.16/23 Dtd. 01.04.2023
2. CBDT, vide circular, clarifiesTDS on salary tobe deducted under New Tax Regime as default in absence of a contrary declaration from the employee. Circular no. 4/2023 Dtd. 05.04.2023
3. CBDT notifies revised jurisdictions for the purposes of "passive non-financial entity" under rule 114F of Income Tax Rules 1962 by amending principal notification no. 78/2018 dated 05th November 2018. Notification no.17/23 Dtd. 06.04.2023
4. CBDT notifies ‘Greater Noida Industrial Development Authority’ for claiming tax exemption u/s 10(46). Notification no.18/23 Dtd. 10.04.2023
5. CBDT notifies ‘Central Board of Secondary Education’ for claiming tax exemption u/s 10(46) deemed for FY 2013-14. Notification no.19/23 Dtd. 10.04.2023
6. CBDT notifies ‘Central Board of Secondary Education’ for claiming tax exemption u/s 10(46) deemed for FY 2021 to 2023 and for FY 2023 to 25. Notification no.20/23 Dtd. 10.04.2023
7. CBDT notifies Cost Inflation Index for the FY 2023-24. Notification no.21/23 Dtd. 10.04.2023
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Knowledge Updates Team
AKGVG & Associates
(Chartered Accountants)

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