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Income Tax : The new Income Tax Bill consolidates provisions for non-profits, covering registration, taxation, compliance, and capital gains ru...
Income Tax : The Income-Tax Bill 2025 simplifies house property income taxation, reducing complexity while maintaining key provisions for bette...
Income Tax : India's Income Tax Department shifts to a taxpayer-friendly approach, prioritizing silent recoveries, refund adjustments, and redu...
Income Tax : Explore why Cost Accountants (CMAs) should be included in the definition of "Accountant" under the Income Tax Bill 2025 for a comp...
Income Tax : Understand the New Tax Regime 2025 with updated slabs, deductions, and exemptions. Learn how to save tax and choose the best regim...
Income Tax : Explore the Finance Bill 2025 highlights, including revised tax rates, TDS/TCS amendments, ULIP taxation, and updated rules for sa...
Income Tax : ICMAI addresses the non-inclusion of 'Cost Accountant' in the Income Tax Bill 2025. The Council is engaging with policymakers to e...
Income Tax : Lok Sabha issues corrigenda for the Income-tax Bill, 2025, correcting references, formatting, and legal citations. Read the key am...
Income Tax : KSCAA's representation to CBDT highlights challenges in the Vivad Se Vishwas Scheme 2024, focusing on delayed appeals and suggesti...
Income Tax : Join our webinar on Faceless Tax Assessments under the Income Tax Act, 1961. Learn concepts, challenges, and solutions from expert...
Income Tax : Karnataka High Court dismisses Revenue’s appeal in PCIT Vs Ennoble Construction, ruling on transport creditors' tax liability ...
Income Tax : Supreme Court emphasizes reasonable cause for TDS non-deduction under Section 271C. Highlights interplay of Sections 4, 5, 9, and ...
Income Tax : Delhi HC directs Nil TDS for SFDC Ireland citing no Permanent Establishment in India. Clarifies taxation under DTAA and Rule 28AA ...
Income Tax : Claim of the assessee for deduction for education cess was on a bonafide belief that it was allowable expenditure u/s. 37(1) and h...
Income Tax : Delhi High Court held that Freight Logistic Support Service provided by appellant are not in the nature of Fee for Technical Servi...
Income Tax : CBDT extends the due date for filing Form 56F under Section 10AA(8) and 10A(5) of the Income-tax Act, 1961, to March 31, 2025, for...
Income Tax : The Central Government notifies Punjab RERA for tax exemption under Section 10(46A) of the Income-tax Act, effective from the 2024...
Income Tax : The Indian government is set to introduce the new Income Tax Bill, 2025, in the Lok Sabha on February 13, 2025. This comprehensive...
Income Tax : Bhaikaka University, Gujarat, is approved for scientific research under Section 35(1)(ii) of the Income Tax Act, 1961, effective f...
Income Tax : Notification No. 14/2025 updates Form 49C submission rules for liaison offices under the Income-Tax Act. Filing deadline set to 8 ...
Notification No. 65/2014-Income Tax S.O….(E) – In the notification of the Government of India, Ministry of Finance, Department of Revenue, Central Board of Direct Taxes, number S.O. 2754(E) dated the 22nd October, 2014 published in Gazette of India, Extraordinary, Part II, Section 3, Sub-section (ii), dated 22nd October, 2014, in the Schedule,
Notification No. 64/2014-Income Tax In exercise of the powers conferred by clause (b) of sub-section (4) of section 120 of the Income-tax Act 1961 (43 of 1961), and in supersession of the Government of India, Central Board of Direct Taxes, notification number S.O. 889(E), dated the 17th September, 2001 published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (ii) dated the 17th September, 2001 except as respects things done or omitted to be done before such supersession,
Notification No. 63/2014-Income Tax Finance Minister has increased Limit Under Section 80C of the Income Tax Act to Rs. 1.50 Lakh vide Budget 2014 w.e.f. Assessment Year 2015-16 and now CBDT has inconformity with the 80C amendment increased the Limit for Investment in Bank Term Deposit for the Purpose Section 80C to Rs. 1.50 Lakh from earlier limit of Rs. 1 Lakh.
With CSR to be a compulsory compliance for a prescribed set of companies, India has become the first country in the whole world to make it mandatory for the corporate. CSR should not be taken as an obligation but a social responsibility which should be fulfilled strategically, systematically and thoughtfully.
Hon’ble Bangalore ITAT has in the case of Shri G.N.Mohan Raju,v/s ITO in ITA No.242 & 243(Bang) 2013 has held that notice u/s 143(2) issued prior to filing of return in response to notice u/s 147 is invalid, even if return is filed late.
Instruction No. 7 of 2014 dated 26.09.2014 clarifies that ordinarily in scrutiny cases selected on the basis of AIR/CIB/26AS information, the scrutiny shall be limited to that information. Wider scrutiny would be possible only with the sanction of Principal Commissioner of Income-tax/ Commissioner of Income-tax in specified cases and under the monitoring of the Range Head. (Such cases form 25-30% of the total scrutiny basket, thus limiting the cases of full scrutiny).
The Income-tax Offices throughout the country shall remain open on 15th November (Saturday), during normal office hours, for conducting the administrative work related to implementation of the restructuring of jurisdictions across the country which is coming into effect from 15th November, 2014.
Notification N0. 62/2014-Income Tax In exercise of powers conferred by sub-sections (1) and (2) of section 120 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following amendments to the following notifications of the Government of India, Ministry of Finance, Department of Revenue, Central Board of Direct Taxes, namely:-
ITAT Chennai rules on exemption u/s.54/54F for residential property purchase; ‘due date’ clarified as extended under Section 139(4) of the Income Tax Act.
Notification No. 61/2014-Income Tax S.O. 2874 (E). – In exercise of the powers conferred by section 295 read with sub-clauses (iv), (v), (vi) and (via) of clause (23C) of section 10, clause (aa) of sub-section (1) of section 12A and clause (vi) of sub-section (5) of section 80G of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income tax Rules, 1962
