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Income Tax : Understand India's taxation system, including direct and indirect taxes, their impact, and ongoing reforms to ensure equity and ef...
Income Tax : Explore the concept of agricultural income under Income Tax Act 1961, including definitions, exemptions, and conditions for income...
Income Tax : IT Dept scrutinizes political donations ₹5L+ for tax fraud. Learn about Section 80GGC/80GGB, penalties, and steps to ensure comp...
Income Tax : Why does tax evasion still thrive despite all the efforts to stop it? And more importantly, what can be done to fix it? This blog ...
Income Tax : Through tax laws on Virtual Digital Assets (VDAs) like cryptocurrencies and Non-Fungible Tokens (NFTs), India has initiated the pr...
Income Tax : Comprehensive list of 30 banks available at the e-Filing Portal's e-Pay Tax service. Find out the new and migrated banks, along wi...
Income Tax : Learn about advance tax, who needs to pay it, due dates, payment methods, penalties, and exceptions. Understand advance tax instal...
Income Tax : The Institute of Cost Accountants of India seeks inclusion of Cost Accountants in the definition of "Accountant" under Section 515...
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 : ITAT Mumbai held that notice under section 148 of the Income Tax Act issued after a period of six years is barred by limitation. A...
Income Tax : Delhi High Court held that Section 153C as application at relevant time didn’t contemplate two tier recordal of satisfaction. Th...
Income Tax : It was held that considering the provisions of CBDT Circular No. 1916 and the explanation provided by the assessee, the seized gol...
Income Tax : Bombay High Court held that reassessment proceeding u/s. 148 initiated against non-existing company is not sustainable in law in a...
Income Tax : ITAT Kolkata addressed TDS disallowance and procedural compliance in PBN Constructions Pvt. Ltd. Vs DCIT. Analysis includes judici...
Income Tax : Learn about high-risk transaction case verification, assessment, and proceedings under Sections 148/148A on the Insight and ITBA p...
Income Tax : Learn about high-risk CRIU/VRU case verification, assessment, and proceedings under Sections 148/148A on the Insight and ITBA port...
Income Tax : Learn about suspected benami, undisclosed foreign assets, and TDS compliance cases assigned under Risk Management Strategy via the...
Income Tax : The IT Dept. has flagged high-risk non-filers for AY 2019-22 on the Insight Portal under RMS Cycle 5. Assessing Officers can revie...
Income Tax : Delhi Building and Other Construction Workers Welfare Board receives tax exemption on cess, fees, and interest income under Sectio...
Notification No.52 – Income Tax It is notified for general information that enterprise/industrial undertaking, listed at para (3) below has been approved by the Central Government for the purpose of section 10(23G) of the Income-tax Act, 1961, read with rule 2E of the Income-tax Rules, 1962, for the assessment years 2002-03, 2003-04 and 2004-05
Notification No.50 – Income Tax In exercise of the powers conferred by section 118 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby directs that
Circular No. 2 of 2003-Income Tax income-tax at source under sections 193, 194, 194A and 194K of the Income-tax Act on the payment of incomes to Shri Ram Chandra Mission, Chennai, whose income is exempt for assessment years 2002-03 to 2004-05 under section 10(23C)(iv) of the Income-tax Act, 1961, has been examined by the Board
Notification No.49 – Income Tax In exercise of powers conferred by section 295, read with clause (2) of section 17 and sub-section (2C) of section 192 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, namely
Circular No. 3-Income Tax The matter regarding grant of exemption from deduction of income-tax at source under sections 193, 194A and 194K of the Income-tax Act on the payment of incomes to World Renewal Spiritual Trust, Mumbai whose income is exempt for assessment years 2002-03 to 2004-05 under section 10(23C)( vi) of the Income-tax Act, 1961, has been examined by the Board.
Notification No.46 – Income Tax In exercise of the powers conferred in clause (23G) of section 10 of the Income tax Act, 1961, the Central Government hereby makes the following change in the name of the enterprise approved vide Notification No. 319/2001 dated 4th October, 2001
Notification No.38 – Income Tax In exercise of the powers conferred by item (h) of sub-clause (iv) of clause (15) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies tax free bonds (Series XVIII) Secured Redeemable, Non-cumulative Tax-free bonds redeemable after 10 years with a put/call option at the end of 5th, 6th, 7th, 8th, and 9th year, carrying an interest of 8.20% per annum of rupees one lakh each for a total amount of rupees seventy
Notification No.37 – Income Tax In exercise of the powers conferred by section 120 of the Income-tax Act, 1961, (43 of 1961), the Central Board of Direct Taxes hereby makes the following amendments in the notification of the Government of India, Ministry of Finance, (Department of Revenue), Central Board of Direct Taxes, S.O. 733(E) dated 31st July, 2001 namely
Circular No. 1 of 2003-Income Tax The provisions of the Indo-Mauritius DTAC of 1983 apply to ‘residents’ of both India and Mauritius. Article 4 of the DTAC defines a resident of one State to mean “any person who, under the laws of that State is liable to taxation therein by reason of his domicile, residence, place of management or any other criterion of a similar nature.” Foreign Institutional Investors and other
Notification No.31- Income Tax In exercise of the powers conferred by clause (h) of sub-section (2) of section 295 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, namely
