VIMP-Don't skip these 4 Amendments in DT-CA Final-May 2023
Every amendment is important for examination. However, below 4 amendments are most important for upcoming May 2023 examination. First 4 are introduced in Finance act 2022 and Advance rulings chapter has major amendments. 1. No setoff of losses against undisclosed income consequent to search or survey(Sec 79A). 2. Taxation of virtual digital assets (Incl TDS under sec 194S) 3. TDS on benefit or perquisite in respect of business or profession-194R 4. Updated return of income and tax on updated return.(Sec 139A(8A) and 140B) Don’t skip these amendments.
Every amendment is important for examination. However, below 4 amendments are most important for upcoming May 2023 examination. First 4 are introduced in Finance act 2022 and Advance rulings chapter has major amendments. 1. No setoff of losses against undisclosed income consequent to search or survey(Sec 79A). 2. Taxation of virtual digital assets (Incl TDS under sec 194S) 3. TDS on benefit or perquisite in respect of business or profession-194R 4. Updated return of income and tax on updated return.(Sec 139A(8A) and 140B) Don’t skip these amendments.