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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 ...
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Income Tax : The Central Government notifies Punjab RERA for tax exemption under Section 10(46A) of the Income-tax Act, effective from the 2024...
Circular No. 698-Income Tax II. Rates for deduction of tax at source during the financial year from income other than Salaries 5. The rates for deduction of income-tax at source during the financial year 1991-92 from incomes other than Salaries have been specified in Part II of the First Schedule to the Act. These rates apply to income by way of interest (including interest on securities), dividends, insurance commission,
Notification No. S.O.933(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) HUDCO Bonds (Series III) bearing distinctive numbers from 90000001 to 90152500, 91657501 to 92567500, 93017051 to 93497500 and from 93497501 to 94000000 at rupees 1,000
Notification No. S.O.934(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 specifies 14 per cent. (Taxable) payable half-yearly, HUDCO Bonds (Series III) bearing distinctive numbers from 90152501 to 91657500 and from 92567501 to 93017500 at the rate of Rs. 1,000 each aggregating to Rs. 195.50 lakhs
Notification No. 924(E)-Income Tax In exercise of the powers conferred by clause (23D) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies Shriram Mutual Fund set up under a trust deed dated 27th May, 1994, by Shriram Investments Limited, and registered with the Securities and Exchange Board of India under rule 9 of the Securities and Exchange Board of India Mutual Funds (Regulations)
Circular No. 696-income tax It has come to the notice of the Board that some employers are not correctly evaluating the perquisites, allowances or other profits in lieu of or in addition to any salary of wages (referred to as “salaries” hereinafter) paid to their employees for the purpose of deducting tax at source under section 192 of the Income-tax Act, 1961. Such defaulters are liable to penalty proceedings under sections 221 and 271C of the Act, and also liable to prosecution under Chapter XXII of the Act
Circular No. 697-Income tax Board had recently prescribed the form of challans with three counterfoils for payment of advance tax and self-assessment tax. Some problems have been reported in the implementation of the above decision. It has been reported that banks receiving payment of tax are retaining two counterfoils and returning only one foil to the taxpayer. As the taxpayer is expected to enclose proof of payment of advance tax and self-assessment tax along with the return of income
Notification No. S.O.880(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 specifies the 10th Series Issue, Five Years–14.5 per cent. (Taxable) Secured Redeemable Non-Convertible Telephone Bonds bearing distinctive numbers from 10750001 to 11750000 of Rs. 1,000 each aggregating to an amount of Rs. 100
Notification No. S.O.874(E)-Income Tax In exercise of the powers conferred by clause (23D) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies CRB Mutual Fund authorised by the Securities and Exchange Board of India and registered in accordance with the Securities and Exchange Board of India (Mutual Funds) Regulations, 1993, made under the Securities
Circular No. 695-Income tax The Board has had occasion to examine the procedure being followed for authorisation of remittances to non-residents. Under section 195(1) of the Income-tax Act, any person responsible for paying to a non-resident any sum chargeable to tax under the Act excepting interest on securities and income under the head “Salaries”
Notification No. S.O.856(E)-Income Tax In exercise of the powers conferred by section 295 read with sub-section (3) of section 269UC 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:– This notification contains Amendments to Income-tax (Twelfth Amendment) Rules, 1994 carried out on 29th November, 1994 not reproduced here as it is already contained in the body of the rules itself
