Section 138 8a of income tax act

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Web2 Feb 2024 · The finance minister introduced Section 139(8A) of the Income Tax Act in the Finance Bill 2024. Further, CBDT issued a notification on 29th April 2024 to notify the form … WebSection 138 of Income Tax Act "Disclosure of information respecting assessees". 138. (1) (a) The Board or any other income-tax authority specified by it by a general or special …

Taxation Administration Act 1953 - Legislation

WebNew proposed provision of Sub Section(8A) under section 139 will not apply in case of the updated Income tax return under the following case: In case Filling consequences will … Web30 Apr 2024 · Rule 12AC of the IT Rules states that updated return under Section 139 (8A), relating to the assessment year commencing on April 01, 2024 and subsequent … hemingway\u0027s house

Notes for guidance - Taxes Consolidation Act 1997 (Finance Act …

Web(j) for the purpose of determining the income of the transferor and the transferee for their taxation years following their taxation years referred to in paragraph (h), amounts deducted by the transferor as reserves under subparagraph (3)(a)(i) and paragraphs 20(1)(l) and (l.1) and 20(7)(c) of this Act and section 33 and paragraph 138(3)(c) of the Income Tax Act, … Web19 Aug 2024 · The Intention Behind Introducing Section 139(8A) So as to furnish much more time to the assessee it is asked to begin a new provision under section 139(8A) of the Act … Web21 Feb 2024 · Budget 2024 has introduced the new section 139 (8A) in Income Tax Act, 1961. Refer budget update @ Introduction of new Income Tax 'Updated' Return Type. … hemingway\u0027s hurricane

FAQ’s on Updated Return (ITR-U) – Section 139 (8A) of the Income …

ITR U form filling Section 139 (8A) of Income tax act 1961

Web8 Feb 2024 · Capital Gains Tax. Find the statutory provisions for Capital Gains Tax in: share exchanges (section 138(1) Taxation of Chargeable Gains Act (TCGA) 1992); reconstruction involving the transfer of a ... Web5 May 2024 · Updated Return u/s 139 (8A) As a step towards achieving the Tax certainty, the Finance Bill 2024 has introduced the new provisions vide Section 139 (8A) of the Income … hemingway\\u0027s home in ketchum idahoWebPart 8A (comprising sections 138A to 138S) was inserted, as from 1 October 1996, by section 42 Tax Administration Amendment Act (No 2) 1996 (1996 No 56). See also section 2(3) of that Act as to the application of the amendment in relation to other provisions of this Act.. Section 138(1)(d): amended, on 1 April 2008, by section ZA 2(1) of the Income Tax … landscapers rio rancho nm

"WebIncome and Corporation Taxes Act 1988, Section 837A is up to date with all changes known to be in force on or before 12 December 2024. There are changes that may be brought … " - Section 138 8a of income tax act

Section 138 8a of income tax act

Section 138 in The Income- Tax Act, 1995 - Indian Kanoon

WebThe amended provision of section 138 is effective for financial year 2024-23 relevant to the assessment year 2024-24. In this article, you will learn detail of the provisions of section … WebSection 138 in The Income- Tax Act, 1995 138. 5 Disclosure of information respecting assessees 6 (1) (a) The Board or any other income- tax authority specified by it by a …

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Web19 Jul 2024 · Introduction to Updated Income Tax Return- Sec 139 (8A) In the Budget 2024-23 presented by Honourable Union Finance Minister Nirmala Sitharaman presented on 1 … Webcompany or a firm), who is not required to furnish return of income under any other provision of section 139(1), to file return of income if during the previous year he: 1. Has deposited …

Web4 Feb 2024 · Therefore, with this objective the new Section 139(8A) and Section 140B is proposed to be introduced in Income Tax Act, 1961. The question is whether the … WebThe charge to corporation tax and exclusion of income tax and capital gains tax. 7. Treatment of certain payments and repayment of income tax. 8. General scheme of …

Web29 Mar 2024 · In this article, we will discuss about Section 139(8A) – Updated Return in detail. Updated Return – Section 139(8A) A new provision under section 139(8A) of the … Web(j) for the purpose of determining the income of the transferor and the transferee for their taxation years following their taxation years referred to in paragraph (h), amounts …

WebThis video described How to file updated return under section 139(8a) of Income Tax Act. And also described who can file ITR U under this section. How file i...

Web1 Feb 2024 · 11. Accordingly, it is proposed to amend clauses (8), (8A), (8B) and (9) of section 10 of the Act to provide that the provisions of the said clauses shall not apply to remuneration, fee or income of the previous year relevant to the assessment year beginning on or after the 1st day of April, 2024. 12. These amendments will take effect from 1st ... hemingway\\u0027s home in cubaWebAmendment of section 138. 28. In section 138 of the Income-tax Act, for sub-section (1), the following sub-section shall be substituted, namely:—"(1) (a) The Board or any other … hemingway\u0027s hurricane phil scottWeb30 Mar 2024 · 1 Short title 2 Interpretation 2A Application of the Criminal Code 2B Act binds the Crown 3 Application 3AA Schedule 1 Part IA—Administration Part II—Commissioner of Taxation, Second Commissioner of Taxation and Deputy Commissioner of Taxation Part IIA—The general interest charge hemingway\u0027s home in cubaWeb1 Jan 2024 · Company distributions, Tax Credits, franked Investment Income and advance Corporation Tax - Sections 129 - 186: Part 6: Income Tax and Corporation Tax exemptions … hemingway\u0027s home in ketchum idahoWeb21 Sep 2016 · Section 138 of the Income-tax Act, 1961 (‘Act’) deals with mechanism for disclosure of information in respect of assessees under the Act. Sub-section (1) of this … landscapers romsey victoriaWeb2 Feb 2024 · If ITR-U is filed within the expiry of 24 months from the end of the relevant assessment year – 50% of aggregate tax and interest payable; Penalty under section 234F … hemingway\u0027s icebergWeb13 Feb 2024 · The Finance Act of 2024 incorporated Section 148A in the Income Tax Act, 1961, effective for the 2024-22 tax year. Its purpose is to require the assessing officer to … hemingway\\u0027s house