income tax act

NOTIFICATION NO. 1/2011 Section 35AC of the Income-tax Act, 1961 - Eligible projects or schemes, expenditure on - Notified National Committee constituted for Promotion of Social and Economic Welfare - Appointment of new Chairman and members of said Committee Full Article

Organization Kelkar Education Trust, Mumbai has been approved u/s 35(1)(ii) of the Income-tax Act, 1961 NOTIFICATION NO. 8/2011 [F.NO.203/32/2010/ITA-II], DATED 7-2-2011 It is hereby notified for general information that the organization Kelkar Education Trust, Mumbai has been approved by the Central Government for the purpose of clause (ii) of sub-section (1) of section 35 of [...] Full Article

Processing of returns of A.Y. 2010-11 – Section 143 of the Income-tax Act, 1961 – Steps to clear backlog INSTRUCTION NO. 2/2011 [F.NO.225/25/2010/ITA-II] DATED 9-2-2011 The issue of processing of returns for Asst. year 2010-11 and giving credit for TDS has been considered by the Board. In order to clear the backlog of returns, the [...] Full Article

The notice u/s 143(2) served after the expiry of limitation of time is not valid and the assessment passed in pursuance of an invalid notice is illegal and void. Section 143(2)(ii) clearly stipulates service of notice and not issuance of notice. Full Article

Since Rajendra Nagar Municipality is not notified by the Central Government, the agricultural land falling therein cannot be treated as capital asset by taking the distance from the limits of Hyderabad Municipality. Full Article

Section 35AC, read with Explanation (b) thereto, of the Income-tax Act, 196 Eligible projects or schemes, expenditure on – Notified eligible projects or schemes NOTIFICATION NO. S.O. 3021(E), DATED 23-12-2010 In exercise of the powers conferred by sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 [...] Full Article

NOTIFICATION NO. 90/2010 - It is hereby notified for general information that the organization M/s. National Council for Applied Economic Research, New Delhi has been approved by the Central Government for the purpose of clause (ii) of sub-section (1) of section 35 of the Income-tax Act, 1961 (said Act), read with Rules 5C and 5E of the Income-tax Rules, 1962 (said Rules), with effect from 1-4-2002 (assessment year 2003-04) onwards in the category of 'other Institution',.. Full Article

NOTIFICATION NO. 91/2010- Indraprastha Institute of Information Technology, New Delhi has been approved by the Central Government for the purpose of clause (ii) of sub-section (1) of section 35 of the Income-tax Act, 1961 (said Act), read with Rules 5C and 5E of the Income-tax Rules, 1962 (said Rules), from assessment year 2010-11 onwards in the category of 'other Institution', partly engaged in research activities subject to the following conditions, namely :— Full Article