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Income Tax : CBDT Notification 36/2025 requires sellers to collect TCS on luxury goods like watches, art over ₹10 lakh from April 22, 2025. L...
Income Tax : Your ITR refund for FY 2024-25 may be delayed due to pending tax issues. Learn why and how to handle notices from the Income Tax D...
Income Tax : Learn about the revised Section 44ADA, eligibility, new ₹75L threshold, benefits, and compliance rules for professionals under p...
Income Tax : Check TDS and TCS rates for FY 2025-26 (AY 2026-27) for residents and non-residents. Includes thresholds, rates, and key sections ...
Income Tax : Mumbai ITAT clarifies LTCG on property: Allotment date, not registration, determines holding period. Impact on tax, Sec 54/54F cla...
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 Bangalore rules Section 115JB (MAT) not applicable to Canara Bank (erstwhile Syndicate Bank), citing prior judicial precedent...
Income Tax : Tribunal also took note of the fact that AO had merely reproduced identical reasons for multiple years without verifying facts or ...
Income Tax : ITAT Ahmedabad held that addition u/s. 68 of the Income Tax Act towards capital contribution deleted since assessee furnished adeq...
Income Tax : The case of assessee was selected through compulsory manual Statutory notices u/s 143(2) was issued on 21.09.2017. Further, notice...
Income Tax : ITAT Ahmedabad held that addition under section 68 of the Income Tax Act unsustainable since revenue/ department failed to establi...
Income Tax : The Central Government notifies the National Mission for Clean Ganga as exempt from income tax under Section 10(46A), effective AY...
Income Tax : The Central Board of Direct Taxes notifies tax collection at source on the sale of certain goods exceeding 竄ｹ10 lakh, effectiv...
Income Tax : Latest income tax rule changes effective April 2025. Form 27EQ updated with new categories for tax collection at source on various...
Income Tax : CBDT notifies HUDCO’s 10-Year Zero Coupon Bond worth ₹5,000 Cr under Section 2(48) of Income-tax Act for infrastructure projec...
Income Tax : CBDT approves KIMS Foundation, Hyderabad for scientific research under Section 35 of Income-tax Act, effective FY 2025–26 to AY ...
In exercise of the powers conferred by sub-section (2)(b) of section 80G of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies Kadri Shri Manjunatha Temple, Mangalore, to be a place of public worship of renown throughout the country for the purposes of the said section
Notification: S.O.1478 It is hereby notified for general information that the institution mentioned below has been approved by the Indian Council of Medical Research, New Delhi, the prescribed authority for the purposes of clause (ii) of sub-section (1) of section 35 of the Income-tax Act, 1961.
Circular No. 110-Income Tax The Punjab, Haryana. and Delhi Chamber of the Commerce and Industry have approached the Board for amendment of rules 67A and 101A of the Income-tax Rules, as these rules, in case of payments to the nominee or nominees, do not give discharge to the trustees of the funds against all future claims and liabilities.
Notification: S.O.179(E) In exercise of the powers conferred by sub-section (1) of section 295 of the Income-tax Act, 1961 (43 of 1961), and rule 92 of the Second Schedule to that Act, the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax (Certificate Proceedings) Rules, 1962, namely :–
Notification: S.O.1095 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.
Circular No. 109-Income Tax The correct legal position regarding depreciation and extra shift allowance is clarified as under : NORMAL DEPRECIATION UP TO 1969-70 – Non-seasonal factory was entitled to no depreciation unless it worked for more than 30 days, 50 per cent if it worked for more than 30 days, and 100 per cent depreciation if it worked for 180 days or more.
Notification: S.O.160(E) This notification contains Amendment to Income-tax Rules carried out on March 20, 1973 not reproduced here as it is already contained in the body of the Rules itself
Notification: S.O.159(E) 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 :– This notification contains Amendment to Income-tax Rules carried out on March 20, 1973 not reproduced here as it is already contained in the body of the Rules itself
Circular No. 108-Income Tax The rates of income-tax for the assessment year 1972-73 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, 1972. In the case of taxpayers other than companies, the rates are the same as were specified in Part III of the First Schedule to the Finance (No. 2) Act, 1971
Notification: S.O.1054 Dudhsagar Research Association, Mehsana has been approved by the Indian Council of Agricultural Research, the prescribed authority for the purposes of clause (ii) of sub-section (1) of section 35 of the Income-tax Act, 1961, for a period of three years with effect from 1st April, 1972.
