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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...
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...
Circular No. 660-Income tax Attention is invited to the Board’s Circular No. 634, dated 20-8-1992 regarding collection of income-tax at source under section 206C of the Income-tax Act, in respect of profits and gains from the business of trading in alcoholic liquor, forest produce, etc., during the financial year 1992-93.
Circular No. 659-Income tax Whereas the annexed Agreement between the Government of the Republic of India and the Government of the Federal Republic of Germany for the avoidance of double taxation with respect to taxes on income and capital has been concluded
Circular No. 658-Income tax Under section 3 of the United Nations (Privileges and Immunities) Act, 1947, read with section 18 of the Schedule to the said Act, officials of International Organisations like the World Bank Mission Staff staying in hotels on official duty, are accorded the same privileges in respect of exchange facility as are accorded to the officials of comparable ranks forming part of Diplomatic Missions to the Government concerned.
CIRCULAR NO. 657-Income tax In respect of incomes of all categories of taxpayers (corporate as well as non-corporate) liable to tax for the assessment year 1993-94, the rates of income-tax (including surcharge thereon) have been specified in Part I of the First Schedule to the Act and are the same as those laid down in Part III of the First Schedule to the Finance Act, 1992
Circular No. 655-Income tax Reference is invited to the Board’s Circular No. 630, dated 11-8-1992 regarding deduction of income-tax at source from the payment of interest on securities for the financial year 1992-93.
Circular No. 656-Income tax Reference is invited to the Board’s Circular No. 633, dated the 20th August, 1992 wherein the rates at which the deduction of income-tax at source was to be made during the financial year 1992-93, from payment of income by way of Insurance Commission, under section 194D of the Income-tax Act, 1961, were communicated.
Notification No.S.O.1986 – Income Tax In exercise of the powers conferred under clause (a) of sub-section (2) of section 119 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby specifies the due date for the purposes of Explanation under sub-section (1) of section 139 as 31st October, 1993, in respect of the following class of assessees for the assessment year 1993-94
Notification No.S.O.608(E) – Income Tax In exercise of the powers conferred by section 115K and by 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
Notification No.S.O.569(E) – Income Tax In exercise of the powers conferred by clause (iii) of the Explanation to clause (5B) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government having regard to availability of Indians having specialised knowledge and experience, the needs of the country and other relevant circumstances, specifies the following fields for the purposes of the said clause (5B)
Circular No. 654-Income tax Reference is invited to Board’s Circular No. 629, dated 31-7-1992 wherein the rates of deduction of income-tax from the payment of income under the head ‘Salaries’ under section 192 of the Income-tax Act, 1961, during the financial year 1992-93, were intimated. The present circular contains the rates of deduction of income-tax
