⇒ New Section 194S applicable from 1st July 2022. ⇒ CBDT amends IT Rules to insert and amend in rules 30, 31 and 31A, Form 26QE, Form 16E for the purposes of compliance of section 194S. ⇒ 21.06.2022: -Remuneration received from firm can’t be construed as gross receipt for purpose of tax audit u/s 44AB. (High Court of Bombay in Case of Perizad Zorabian Irani V/S PCIT) ⇒ 27.06.2022: -Reassessment initiated merely on basis of an audit objection not Valid-. (High Court of Bombay in case of Glaxosmithkline Pharmaceuticals Ltd.V/S A/DCIT). ⇒ IRS officer Nitin Gupta has been appointed as the new CBDT chairman. CBDT notifies Cost Inflation Index for FY 2022-23 to be 331. ⇒ CBDT inserts Rule 12AB to provide further conditions, where filing of ITR is mandatory as per clause (iv) of 7th Proviso to section 139(1) namely: - ⇒ CBDT extends due date of filing Form 10AB (Final Registration of Charitable Trusts) which are due to file on or before 29.9.2022 may be filed till 30th September 2022.
