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Rishi Lahoti asked 3 years ago

Sir reporting under clause 17 and 29B touches section 56(2)(x) and 50C of Income Tax Act, 1956…. Whereby the said sections are ammended by FA 20 stating 110% replacing 105%. But as per the latest study material for May21, it is still 105% (pg 12.75, 12.161(q8))…please guide us. Thank you!!

2 Answers
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RaviRavi Staff answered 3 years ago

in clause 17 we have to give details of difference irrespective of whether it is 1% or 3% or 5% or 10%
now regarding taxation rate has changed to 10% from 1st April 2021

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RaviRavi Staff answered 3 years ago

icai some times misses changes required
but you should answer as per dates given
if they are silent explain from point of view both dates