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Income Tax : Taxation plays a key role in reducing income inequality through progressive tax policies, redistribution, and public services. Lea...
Income Tax : Understand tax obligations for freelancers in India, including GST, deductions, advance tax, and compliance strategies to manage t...
Income Tax : The standard deduction is one of the most popular deductions because it makes tax filing easier by lowering taxable income without...
Income Tax : Learn how residential status affects tax liability under the Income Tax Act, 1961. Understand ROR, RNOR, and NR classifications an...
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...
Income Tax : Bombay High Court invalidates reassessment notice under Section 148 of the Income Tax Act, citing failure to meet jurisdictional c...
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. 824(E)-Income Tax In exercise of the powers conferred by sub-section (1) of section 54EA of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby specified bonds to be issued within a period of one year from the date of publication of this notification in the Official Gazette of an amount not exceeding Rs. 35 crores by M/s. Weizmann Limited, a public company
Circular No. 770-Income Tax A Bill to further amend the Additional Emoluments (Compulsory Deposit) Act, 1974 was introduced in the Lok Sabha on June 11, 1977 and was passed by the Lok Sabha on June 18, 1977. The Bill sought to replace the Ordinance issued by the Vice President acting as President on May 9, 1977. It provided that (i) compulsory deposit of additional dearness allowance would
Notification No. S. O. 1882-Income Tax the assessee will apply its income, or accumulate it for application, in consonance with the provisions of sub-sections (2) and (3) of section 11 as modified by the said clause (23) for such accumulation wholly and exclusively to the objects for which it is established
Notification No. S. O. 811(E)-Income Tax In exercise of the powers conferred by the Explanation to sub-section (2) of section 246A of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby appoints the 1st day of October, 1998, as the appointed day for the purpose of the said section.
Notification No. S. O. 782(E)-Income Tax In exercise of the powers conferred by sub-section (1) of section 54EA of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby specifies equity shares to be issued within a period of one year from the date of publication of this notification in the Official Gazette, of an amount not exceeding three hundred crores only by the Tata Tele Services Limited
Notification No. S. O. 783(E)-Income Tax In exercise of the powers conferred by sub-section (1) of section 54EB of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby specifies equity shares to be issued within a period of one year from the date of publication of this notification in the Official Gazette, of an amount not exceeding one hundred fifty crores only by the Tata Tele Services Limited
Notification No. S. O. 2117-Income Tax In exercise of the powers conferred on him by the Central Board of Direct Taxes under sections (1) and (2) of section 120 of the Income-tax Act, 1961 (43 of 1961), and CBDT’s Notification No. 10678, dated 21st August, 1998, and in supersession of all existing orders, the Chief Commissioner of Income-tax, Pune, hereby directs that
Notification No. S. O. 1785-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 Petroleum Sports Control Board, New Delhi, for the purpose of the said clause for the assessment years 1996-97, 1997-98 and 1998-99 subject to the following conditions,
It must be remembered that in every case of delay there can be some lapse on the part of the litigant concerned. That alone is not enough to turn down his plea and to shut the door against him. If the explanation does not smack of mala fides or it is not put forth as part of a dilatory strategy the court must show utmost consideration to the suitor.
Notification No. S. O. 743(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 10.5 per cent. tax-free Konkan Railway Bonds of the sixth series bearing distinctive numbers
