The Latest ⚡Taxmann Review Bulletin | March 2020 | DOWNLOAD NOW: http://bit.ly/2VsujUy
Quick Review of Important Tax & Laws Updates Reported on Taxmann.com.
14. In cases where disputed tax is related to reduction of MAT/AMT
credit or loss or depreciation, the taxpayer has an option either to
include amount of tax (including surcharge and cess but excluding
interest) related to loss in amount of disputed tax or carry forward
the reduced MAT/AMT credit or loss or depreciation, in a manner to
be prescribed.
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22. 1. The Finance Bill, 2020 proposed to increase the period from 7 years to 10 years.
2. The Finance Bill, 2020 proposed to increase the turnover limit from Rs. 25 crores to Rs. 100 crores.
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26. 1. The Finance (No. 2) Act, 2019 substituted the word 'invalid' with 'inoperative' with effect from 01-09-2019
2. Income-Tax (Twelfth Amendment) Rules, 2019 vide Notification N0. 95/2019, Dated 06-11-2019