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Income Tax : Understand eTDS return corrections, the six-year revision limit, and challenges in claiming TDS credit. Learn how tax adjustments ...
Income Tax : Explore our analysis on including Company Secretaries as Accountants under the Income-Tax Bill 2025. Benefits include improved com...
Income Tax : While tax avoidance is legal and involves strategic tax planning, tax evasion is illegal and constitutes fraudulent activities to ...
Income Tax : Understand whether director remuneration is taxed as salary or business income. Learn about tax implications, employer-employee re...
Income Tax : Explore major income tax updates for FY 2025-26, including revised tax slabs, TDS/TCS rules, rebates, and benefits for startups. S...
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 : 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 : ITAT Pune held that delay in filing audit report in Form 10CCB due to technical problem is justifiable and hence denial of claim u...
Income Tax : ITAT Jaipur held that amount of sundry debtor recorded in books of account are not any money, bullion, jewellery or other valuable...
Income Tax : Aadhunik Infrastructure Development Pvt. Ltd. Vs DCIT (ITAT Pune) The Income Tax Appellate Tribunal (ITAT), Pune Bench “A,” ha...
Income Tax : ITAT Nagpur rules in ITO Vs N. Kumar Housing, addressing ₹5.2 crore addition under Sections 41(1) and 68. Liability cessation an...
Income Tax : ITAT Pune rules in Ramchandra Jadhavrao vs. ACIT that no penalty under Section 271(1)(c) applies if income is declared in return p...
Income Tax : Details of the Lok Sabha Select Committee's sittings on March 6-7, 2025, to examine the Income-Tax Bill, 2025, with oral evidence ...
Income Tax : CBDT updates income tax rules and forms for business and securitization trusts. Notification 17/2025 amends Rules 12CA & 12CC, imp...
Income Tax : Key updates on income tax deduction from salaries under Section 192 for FY 2024-25, including amendments, surcharge rates, and new...
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...
Notification No.S. O. 563(E) – Income Tax In exercise of the powers conferred by clause (ii) of sub-section (1) of section 80L of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies, the 5-years 17% interest per annum payable halfyearly secured, redeemable, non-convertible taxable debentures in the nature of bonds (V-Issue I-Series) of Rs. 1,00,000 each for an amount of rupees four hundred ninety one
Notification No.S. O. 562(E) – 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
Notification No. S. O. 1989 – Income Tax It is notified for general information that Power Finance Corporation Ltd., New Delhi, has been approved by the Central Government as a corporation engaged for providing long-term finance for industrial development in the country for the purposes of section 36(1)(viii) of the Income-tax Act, 1961, for the assessment year 1999-2000
Notification No. 10998/1999 – Income Tax It is notified for general information that M/s Power Finance Corporation Ltd., New Delhi, has been approved by the Central Government as a Corporation engaged for providing long-term finance for industrial development in the country for the purposes of section 36(1)(viii) of the Income-tax Act, 1961, for the assessment year 1999-2000
Notification No. 10997/1999 – Income Tax In exercise of the powers conferred by sub-clause (ii) of clause (23D) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies ABN Amro Bank Money Market Mutual Fund, set-up by the ABN Amro Bank N.V. 302 Dalamal House, Nariman Point, Mumbai 400 121 and authorised by the Reserve Bank of India, as a money market mutual fund for the purposes of said clause subject to the conditions specified in the Annexure to this notification
Notification No. 10996/1999 – 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 (2008-Ist Series) non-convertible, unsecured and redeemable bonds of rupees one lakhs each carrying an interest of 10.40% per annum payable half-yearly for a period of ten years for an amount of
Notification No. 10995/1999 – Income Tax In exercise of the powers conferred by clause (ii) of sub-section (1) of section 80L of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies the 5 years 17% interest per annum payable half-yearly secured, redeemable, non-convertible taxable debentures in the nature of bonds (V-Issue, I-Series) of Rs. 1,00,000 each for an amount of rupees four hundred ninety one
Notification No. 10994/1999 – 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
As per the CBDT Circular discussed in the case of Smt. Pati Devi vs. ITO; 240 ITR 727 Karnatka 500gm, jewellery is expected in the possession of a married lady and that much of ornaments cannot be seized. If we go with the CBDT Circular dated 11.05.1994 and the ratio laid down in the case of Smt. Pati Devi (supra), then each lady is expected to own 500gm. ornaments.
Notification No.S. O. 545(E) – Income Tax In exercise of the powers conferred by sub-section (1) of section 54EB (hereinafter referred to as the said section) of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby specifies
