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Income Tax : Taxation plays a key role in reducing income inequality through progressive tax policies, redistribution, and public services. Lea...
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Income Tax : The standard deduction is one of the most popular deductions because it makes tax filing easier by lowering taxable income without...
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Income Tax : Bombay High Court, in Chamber of Tax Consultants v. Director General of Income Tax (Systems) (2025), ruled that flaws in the ITR u...
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 Delhi held that accumulation under section 11(1)(a) of the Income Tax Act is to be allowed at 15% of gross receipts. Accordin...
Income Tax : ITAT Chandigarh held that treating capital gains earned on sale of shares as bogus merely on the basis of warning letter of SEBI w...
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Income Tax : ITAT Jaipur held that exercise of revisionary power under section 263 of the Income Tax Act on the basis of audit objection is not...
Income Tax : Bombay High Court dismisses Shandilya Properties LLP's petition challenging an income tax assessment order, directing them to exha...
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. 915(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 10 years, 13.5% (Taxable) HUDCO Bonds (Series-VII) bearing distinctive numbers from 10000001 to 10620000 for Rs. 1,000 each aggregating to an amount of rupees sixty-two crores only issued by Housing and Urban Development Corporation Limited, New Delhi, for the purpose of the said clause.
Notification No. S. O. 2076-Income Tax It is notified for general information that Maharishi Housing Development Finance Corporation Limited, New Delhi, has been approved by the Central Government for the purposes of section 36(1)(viii) of the Income-tax Act, 1961, for the assessment years 1998-99 and 1999-2000.
Notification No. S. O. 2077-Income Tax It is notified for general information that G.L.F.L. Housing Finance Limited, Anar Complex, Near Vijay Char Rasta, Navrangpura, Ahmedabad, has been approved by the Central Government for the purposes of section 36(1)(viii) of the Income-tax Act, 1961, for the assessment years 1998-99 and 1999-2000.
Notification No. S. O. 2074-Income Tax It is notified for general information that Mercantile Housing Finance Limited, South India House, 36-40, Armenian Street, Chennai-600 001 has been approved by the Central Government for the purposes of section 36(1)(viii) of the Income-tax Act, 1961, for the assessment years 1998-99 and 1999-2000.
Notification No. S. O. 2075-Income Tax It is notified for general information that Dewan Housing Finance Corporation Limited, Warden House, 2nd Floor, Sir P. M. Road, Fort, Mumbai, has been approved by the Central Government for the purposes of section 36(1)(viii) of the Income-tax Act, 1961, for the assessment years 1998-99 and 1999-2000.
Notification No. S. O. 2122-Income Tax In exercise of the powers conferred by clause (23) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies the “Bulsar Cricket Association”, Gujarat, for the purpose of the said clause for the assessment years 1997-98 to 1999-2000 subject to the following conditions,
The case of the petitioner interalia was that there was a change in law as brought about by the decision of the Supreme Court. The Delhi High Court while holding that in considering a delay condonation application facts and circumstances of the each case are required to be considered, held that the facts of the case warranted condonation of delay of 25 days.
Notification No. S. O. 2121-Income Tax In exercise of the powers conferred by clause (23) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies the “Archery Association of India”, New Delhi, for the purpose of the said clause for the assessment years 1998-99 to 2000-01 subject to the following conditions
Notification No. S. O. 844(E)-Income Tax In exercise of the powers conferred by sub-clause (i) of clause (15) of section10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies the Resurgent India Bonds, being bank instruments representing foreign currency denominated deposits in the form of promissory notes, issued by the State Bank of India, a bank constituted under section 3
Notification No. S. O. 2118-Income Tax Consequent to the transfer of the charge of Commissioner of Income-tax (Appeals)-XIII, Calcutta, from the region of the Chief Commissioner of Income-tax, Calcutta to Mumbai, vide Board’s letter, vide F. No. A-11018/11/98-Ad. VII, dated 31st August, 1998, the said charge stands abolished with immediate effect.
