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Income Tax : Understand advance tax rules, due dates, and penalties for non-compliance. Learn how to avoid interest charges under sections 234B...
Income Tax : Receiving an income tax notice can be disconcerting, particularly for individuals who are not well-versed with tax laws and compli...
Income Tax : Discover key highlights of India's Income Tax Bill 2025, effective April 2026, featuring simplified tax structures, revised slabs,...
Income Tax : Supreme Court clarifies the applicability of TOLA to reassessment notices under the Income Tax Act, addressing the interplay with ...
Income Tax : Penny stocks, often associated with small, illiquid companies, have been a subject of concern due to their susceptibility to price...
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 : ITGOA urges CBDT to address workload imbalances in JAO charges. Proposes systematic reorganization to ensure equitable distributio...
Income Tax : IT officials can access digital records during searches under IT Act, 1961, but personal emails and social media access is not all...
Income Tax : The updated return facility encourages voluntary tax compliance, allowing taxpayers to correct income omissions. Proposal to exten...
Income Tax : ITAT Pune remands Dnyanagan Education Society's case for fresh consideration after the rejection of its Section 12AB registration ...
Income Tax : ITAT Ahmedabad held that fresh assessment is necessary in case of taxability of interest earned from Fixed Deposit from compensati...
Income Tax : Delhi High Court held that Section 260A of the Income Tax Act refrains from incorporating a specific provision permitting the fili...
Income Tax : In the present case, recovery or repayment of fraudulent income does not qualify as an allowable expense. Allowing deductions for ...
Income Tax : ITAT Ahmedabad held that as per the provisions of Section 167B of the Income Tax Act, Maximum Marginal Rate (MMR) is applicable on...
Income Tax : CBDT notifies the Income-tax (Seventh Amendment) Rules, 2025, updating Forms 26Q and 27Q to include Section 194T on payments to fi...
Income Tax : Income Tax offices across India will remain open on March 29-31, 2025, for pending work, as per CBDT order under Section 119 of th...
Income Tax : CBDT notifies Income Tax (Sixth Amendment) Rules, 2025, introducing safe harbour rules for assessment year 2025-26. Full details o...
Income Tax : Guidelines for Assessing Officers on handling high-risk e-Verification cases under the e-Verification Scheme 2021, including steps...
Income Tax : CBDT allows data sharing with Delhi's IT Dept. for social welfare scheme identification under Income Tax Act Section 138. Read the...
In exercise of the powers conferred 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: S.O.2164 In pursuance of sub-clause (f) of clause (iii) of sub-section (3) of section 194A of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies the Agricultural Finance Corporation Limited, Stadium House, Block–2, 6th Floor, 81-83 Veer Nariman Road, Bombay–20, for the purposes of the said sub-clause
Notification: S.O.2128 In pursuance of sub-clause (f) of clause (iii) of sub-section (3) of section 194A of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies the National Textile Corporation Ltd., Room No. 283, Udyog Bhavan, New Delhi–11, for the purposes of the said sub-clause.
Notification: S.O.2127 In pursuance of sub-clause (f) of clause (iii) of sub-section (3) of section 194A of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies the Hindustan Machine Tools Ltd., P. O. HMT., Bangalore–31, for the purposes of the said sub-clause
Notification: S.O.1949 Central Government hereby notifies the undermentioned temple to be a place of public worship of renown throughout the State of Mysore and also the neighbouring States for the purpose of the said section.
Circular : No. 15-Income Tax A reference is invited to the Press Note issued by the Ministry of Finance (Central Board of Direct Taxes) on 25-5-1968, relating to the allowance of standard deduction for maintenance expenditure and wear and tear in the case of salaried taxpayers owning conveyances and using them for the purpose of their employment.
Notification: S.O.1825 In pursuance of sub-clause (f) of clause (iii) of sub-section (3) of section 194A of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies the Gujarat Electricity Board, Vidyut Bhavan, Race Course, Baroda–7, for the purposes of the said sub-clause
Notification: S.O.1583 West Suburban Voluntary Blood Bank, Bombay has been approved by the Indian Council of Medical Research, the prescribed authority for the purposes of clause (ii) of sub-section (1) of section 35 of the Income-tax Act, 1961 (43 of 1961), for a period of two years in the first instance :
Circular : No. 14-Income Tax Treatment of initial contribution: Certain points have been raised in connection with the provisions in the Income-tax Act, 1961, relating to gratuity funds. These points and Board’s comments thereon are as under Point No. 1: Paragraph 6 of Board’s Circular No. 70(XI-3), dated 3-11-1951 (Annex) indicates the manner in which tax relief in respect of initial contribution to a gratuity fund, which has been “informally”
Notification: S.O.1581 In pursuance of sub-clause (f) of clause (iii) of sub-section (3) of section 194A of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies the Madhya Pradesh State Road Transport Corporation, Bairagarh (Bhopal), for the purposes of the said sub-clause for a period of three years.
