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Income Tax : Check the TDS chart for FY 2025-26, covering various payments like salary, dividends, winnings, rent, and more. Understand the app...
Income Tax : Learn common errors in the Online 12A Registration Process and how NGOs can avoid delays or rejections when applying for tax exemp...
Income Tax : Learn about advance tax, eligibility, due dates, and payment process to avoid penalties under the Income Tax Act....
Income Tax : The scope of this analysis encompasses a detailed exploration of these three concepts within the Indian income tax framework, draw...
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...
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...
Income Tax : The Finance Bill 2025 proposes tax exemption on income up to ₹12 lakh, revised tax slabs, and a ₹75,000 standard deduction for...
Income Tax : A summary of corporate tax concessions in India, including key deductions, exemptions, and revenue impact from 2021-24 under the I...
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 acknowledged the taxpayer's claim under Section 54F, despite its late submission, and instructed the AO to verify the claim a...
Income Tax : ITAT Mumbai rules Section 115JB of Income Tax Act does not apply to SBI for AY 2006-07, exempting banks from MAT provisions before...
Income Tax : ITAT Mumbai allows pre-possession interior fit-out expenses as cost of improvement for capital gains, setting aside AO/CIT(A) disa...
Income Tax : ITAT Mumbai permits bad debt write-off without proof of irrecoverability, protecting legitimate transactions amidst NSEL issues. (...
Income Tax : ITAT Delhi remits appeal due to CIT(A) dismissal without proper notice, ensuring fair hearing in assessment year 2011-12 case. (15...
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 ...
Circular : No. 26-Income Tax There is an impression that the development rebate allowed in respect of an asset sold to the Government will not be withdrawn even if the vendor credits to the profit & loss account the reserve which he had originally created to qualify for the grant of the rebate. This is wrong as clarified below.
CIRCULAR NO. 25-Income Tax Instances have come to the notice of the Board where Indian nationals, having income in Pakistan were put to considerable hardship in their assessment proceedings in India. After the 1965 hostilities between India and Pakistan, the assessees having income in Pakistan, are finding it almost impossible to repatriate their Pakistan income to India.
Circular No. 24-Income Tax To remove any possible and misunderstanding of the legal position, the Board added the following sentences, at the end of the last para of Board Circular No. 23 of 1969
CBDT Circular No: 23 Date of Issue: 23/7/1969 Section(s) Referred: 9 Statute: Income-Tax Act 1. Non-residents-Income accruing or arising through or from business connection in India-Liability to tax-Section 9 of the Income-tax Act, 1961. Section 9 of the Income-tax Act (corresponding broadly to section 42 of the Indian Income-tax, 1922) provides, inter alia, that income […]
In the notification of the Central Board of Direct Taxes published as S. O. 2005 dated the 24th May, 1969, at pages 695-701 of the Gazette of India, Extraordinary, Part II, Section 3, sub-section (ii) dated the 24th May, 1969,—-
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 Tea Board, 14, Brabourne Road, Calcutta—1, for the purposes of the said sub-clause.
Central Government hereby notifies Shri BADRINATH AND KEDARNATH TEMPLES to be places of worship of renown throughout the State of Uttar Pradesh for the purpose of the said section
Circular No.22 – Income Tax The rates of income-tax for the assessment year 1969-70 in the case of all categories of taxpayers (corporate as well as non-corporate) are specified in Part I of the First Schedule to the Finance Act. These rates (summarised in Annexure I to this circular) are the same as those specified in Part III of the First Schedule to the Finance Act, 1968, for the purpose of deduction of tax at source
Section 132 does not confer any arbitrary authority upon the Revenue Officers. The Commissioner or the Director of Inspection must have, in consequence of information, reason to believe that the statutory conditions for the exercise of the power to order
Circular No. 21-Income Tax It has been represented to the Board that in determining the tax liability of foreign and Indian participants in technical collaboration agreements, different norms and principles are being applied by different Income-tax Officers with the result that there is a great deal of uncertainty in the minds of the foreign parties
