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Income Tax : Perquisites and Profits in Lieu of Salary are important components of taxable income under the Income Tax Act of 1961. These refer...
Income Tax : Budget 2025-26 focuses on growth, tax relief, and investment. GDP projected at 6.3-6.8%, new tax slabs ease burden on middle class...
Income Tax : Explore the New Tax Bill 2025, replacing the Income Tax Act of 1961. Learn about its simplified structure, global alignment, and c...
Income Tax : Explore the feasibility of flat tax in India. Analyze its impact on equity, revenue, and socio-economic challenges compared to pro...
Income Tax : Explore how new tax rebate under Section 87A allows individuals to avoid tax on incomes up to Rs 12 lakh. Learn through illustrati...
Income Tax : CPC (TDS) reminds deductors to file TDS Statement 26Q for Q2 FY 2024-25. Late/non-filing may attract fees and affect TDS credit fo...
Income Tax : Union Cabinet has approved the new Income Tax Bill 2025, aiming to simplify and modernize India's tax system by replacing the 1961...
Income Tax : CBI registers case against 9, including Deputy Commissioner, 2 Inspectors, and 5 CAs, for sabotaging Faceless Tax Scheme; searches...
Income Tax : India's tax arrears stand at ₹47 lakh crore as of Dec 2024. CBDT & CBIC are taking steps, including asset identification, litiga...
Income Tax : India decriminalizes minor direct tax offenses to ease compliance. New measures include litigation management, compounding guideli...
Income Tax : Therefore, the procedure that is required to be completed for issuance of notice under Section 148 of the Act is required to be co...
Income Tax : ITAT Pune deletes additions against Ganraj Homes LLP based on extrapolated on-money allegations, citing lack of corroborative evid...
Income Tax : ITAT Chennai held that addition under section 69 towards unaccounted gold and silver jewellery set aside relying on CBDT instructi...
Income Tax : Kerala High Court held that recovery of tax arrears by income tax department from property that was already auctioned by Kerala Ge...
Income Tax : Delhi High Court held that license fees paid to M/s. Remfry & Sagar for use goodwill vested in the company is allowable as deducti...
Income Tax : The Indian government is set to introduce the new Income Tax Bill, 2025, in the Lok Sabha on February 13, 2025. This comprehensive...
Income Tax : Bhaikaka University, Gujarat, is approved for scientific research under Section 35(1)(ii) of the Income Tax Act, 1961, effective f...
Income Tax : Notification No. 14/2025 updates Form 49C submission rules for liaison offices under the Income-Tax Act. Filing deadline set to 8 ...
Income Tax : CBDT amends Income-Tax Rules, 1962, updating regulations for Infrastructure Debt Funds, including investment criteria, bond issuan...
Income Tax : CBDT authorizes data sharing with DFPD to identify PMGKAY beneficiaries. MoU to govern data confidentiality, transfer mode, and ti...
Notification No. S.O.2941 – Income Tax In exercise of the powers conferred by clause (iv) of sub-section (23C) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies The Society for Comprehensive Rural Health Project of India, for the purpose of the said section for the period covered by assessment years 1980-81 to 1982-83.
Notification No. S.O.2940 – Income Tax In exercise of the powers conferred by clause (iv) of sub-section (23C) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies Tirunelveli Social Service Society, Palayamkottai, for the purpose of the said section for the period covered by the assessment years 1978-79 to 1981-82
Circular No. 310-Income Tax Section 2(1 ) defines “agricultural income”, inter alia, to mean any rent or revenue derived from land which is situated in India and is used for agricultural purposes. Further any income derived from such land by the performance by a cultivator or receiver of rent-in-kind of any process ordinarily employed by him to render the produce raised or received by him fit to be taken to market is also agricultural income
Notification No. S.O.2939 – Income Tax In exercise of the powers conferred by clause (iv) of sub-section (23C) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies The Maharashtra State Council for Child Welfare, for the purpose of the said section for the period covered by the assessment years 1978-79 to 1982-83
Notification No. S.O.2938 – Income Tax In exercise of the powers conferred by clause (iv) of sub-section (23C) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies Maharashtra Branch of the Commonwealth Parliamentary Association, for the purpose of the said section for the period covered by the assessment years 1976-77 to 1981-82
Notification No. S.O.2937 – Income Tax In exercise of the powers conferred by clause (iv) of sub-section (23C) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies King Geroge V Memorail, for the purpose of the said section for the period covered by the assessment years 1979-80 to 1982-83
Notification No. S.O.2446 – Income Tax In exercise of the powers conferred by section 10(23C)(v) of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby amend its notification No. 4011 dated the 6th June, 1981, as below
Notification No. S.O.2445 – Income Tax In exercise of the powers conferred by clause (v) of sub-section (23C) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies Sree Parvathy Sankara Mahaganapathi Parishad, for the purpose of the said section for the period covered by the assessment year(s) 1980-81 to 1981-82
Notification No. S.O.2571 – Income Tax In exercise of the powers conferred by clause (v) of sub-section (23C) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies Swarga Ashram Trust, for the purpose of the said section for the period covered by the assessment years 1981-82 to 1983-84
Notification No. S.O.2569 – Income Tax In exercise of the powers conferred by clause (v) of sub-section (23C) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies Bet Devasthan Samiti of Bet-Dwarka, for the purpose of the said section for the period covered by the assessment years 1964-65 to 1981-82
