https://www.taxtmi.com/news?id=395 Amendments revise income tax and related rules to ease compliance and align timelines: retrospective taxation of income of agricultural produce market committees is withdrawn; tax holiday exemptions for export and special economic units are extended; TDS non deduction consequences are relaxed; audit report deadlines are synchronised with return deadlines; and a sunset clause for refinery deductions is relaxed. Procedural changes permit deferred tax adjustments in profit and loss, shorten the notice period for fringe benefit tax assessments, extend assessment time limits on revival, broaden appellate use of settlement material, relax a deeming provision where objections were earlier raised, broaden deemed satisfaction before penalty, and amend wealth tax correspondingly. en-us Tue, 29 Apr 2008 18:08:00 +0530 Mon, 23 Jun 2008 15:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=395 Amendments revise income tax and related rules to ease compliance and align timelines: retrospective taxation of income of agricultural produce market committees is withdrawn; tax holiday exemptions for export and special economic units are extended; TDS non deduction consequences are relaxed; audit report deadlines are synchronised with return deadlines; and a sunset clause for refinery deductions is relaxed. Procedural changes permit deferred tax adjustments in profit and loss, shorten the notice period for fringe benefit tax assessments, extend assessment time limits on revival, broaden appellate use of settlement material, relax a deeming provision where objections were earlier raised, broaden deemed satisfaction before penalty, and amend wealth tax correspondingly. News - Tue, 29 Apr 2008 18:08:00 +0530 https://www.taxtmi.com/news?id=395