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Income Tax : Compare the breakeven tax liabilities between the old and new tax regimes for FY 2024-25 and understand when each regime is more f...
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Income Tax : ITAT enables e-filing and virtual hearings; over 26,000 e-filings and 1.22 lakh video hearings conducted till Feb 2025, per Minist...
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Income Tax : Get insights on key amendments in the Income-tax Act, 1961, including changes to Sections 9A, 44BBD, 10(10D), and 158BB under the ...
Income Tax : JAOs face workload imbalances, limited manpower, and systemic issues post-Faceless Assessment Scheme. Suggestions for better resou...
Income Tax : ITAT Delhi held that discount on issue of Employee Stock Ownership Plan [ESOP] is allowable as deduction under section 37 of the I...
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Income Tax : Madras High Court disposed of the writ petition with direction to petitioner to challenge the impugned Assessment Order as well as...
Income Tax : CBDT introduces ITR-B for search and seizure cases under section 158BC of the Income Tax Act, effective from 1st September 2024....
Income Tax : CBDT sets 30 April 2025 as the last date to file declarations under the Direct Tax Vivad se Vishwas Scheme, 2024....
Income Tax : HUDCO bonds issued after April 1, 2025, notified as long-term assets under Section 54EC for capital gains exemption, usable for in...
Income Tax : CBDT grants tax exemption to Prayagraj Mela Pradhikaran under section 10(46A) of the Income-tax Act, effective from assessment yea...
Income Tax : CBDT notifies Greater Mohali Area Development Authority for income tax exemption under section 10(46A), effective from assessment ...
Notification No.S. O. 48(E) – Income Tax In exercise of the powers conferred by sub-sections (1) and (2) of section 120 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following amendment in the notification of the Government of India in the Ministry of Finance S. O. 548(E), dated 9th July, 1990, published in the Gazette of India, Extraordinary, Part II, section 3
Beware! Changes in Income-Tax Act 1961 impact educational and medical institutions. Understand the consequences of omitting Sections 10(22) and 10(22A) and the amendments to Section 10(23C). Stay informed to ensure compliance. Disclaimer: For informational purposes only.
Notification No. 289 – Income Tax It is notified for general information that “Vijaya Home Loans Ltd., Bangalore”, 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 to 2000-2001
Notification No. 522 – Income Tax It is notified for general information that “Vysya Bank Housing Finance Ltd., Bangalore”, 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 1999-2000 to 2001-2002
Notification S.O. 418 corrects the earlier Notification No. 10775 under section 10(23G) of the Income Tax Act, 1961 issued on 2nd January 1999.
Circular No.772 – Income Tax In respect of incomes of all categories of taxpayers (corporate as well as non-corporate) liable to tax for the assessment year 1998-99, the rates of income-tax 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, 1997
Notification No. S. O. 1087(E)-Income Tax In exercise of the powers conferred by sub-clause (h) of clause (iv) of sub-section (15) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies 10.5% tax-free (7A-Series) Konkan Railway Bonds bearing distinctive numbers 1 to 11,40,000 for an amount of rupees one hundred fourteen crores only issued by Konkan Railway Corporation Limited
The current Section 44AB of the IT Act has been challenged by the Appellant on behalf of the Income Tax Practitioners. The Appellant contends that the Income Tax Practitioners should be entitled to be authorized representatives and that they are excluded for auditing accounts which violates their Fundamental Rights, specifically Article 14 and 19 of the Constitution.
Notification No. S. O. 1014(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 : (i) the 5 years 13.25% ICICI Regular Income Bonds-I bearing distinctive numbers 1 to 74061 of the face value of rupees five thousand each;
Notification No. S. O. 1015(E)-Income Tax In exercise of the powers conferred by sub-clause (ii) of clause (10AA) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government, having regard to the maximum amount receivable by its employees as cash equivalent of leave salary in respect of the period of earned leave at their credit at the time of their retirement, whether on superannuation
