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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 : Gauhati High Court held that addition merely on the basis of retracted statement without any other relied upon evidence/ material ...
Income Tax : ITAT Jaipur quashes addition of suppressed school fees for Pushpa Vidya Niketan, stating survey statements lack evidentiary value...
Income Tax : ITAT Mumbai rules that the 10% tolerance limit under Section 50C/56(2)(x) is curative and applies retrospectively, impacting prope...
Income Tax : ITAT Bangalore upheld CIT(A)'s acceptance of additional evidence in local language, dismissing AO's addition under Section 69A. Re...
Income Tax : ITAT Bangalore set aside penalty orders under Section 271B due to improper notice delivery to an unrelated email ID and failure to...
Income Tax : The Karnataka Urban Water Supply & Drainage Board receives tax exemption for specified income from FY 2023-24 to 2027-28 under Sec...
Income Tax : CBDT amends Income Tax Rules, effective April 1, 2025, revising Form 3CD, MSME interest provisions, buyback reporting, and loan/de...
Income Tax : The Government of India keeps Small Savings Schemes interest rates unchanged for Q1 FY 2025-26 (April–June 2025), as per the Min...
Income Tax : CBDT circular allows waiver of TDS/TCS interest under sections 201(1A)/206C(7) due to technical errors. Details on eligibility and...
Income Tax : CBDT notifies the Income-tax (Seventh Amendment) Rules, 2025, updating Forms 26Q and 27Q to include Section 194T on payments to fi...
NC Notification No. 65/2010-Income Tax WHEREAS by notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.O. 81(E), dated the 24th January, 2005, issued under sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had specified at serial number 4, for Childline India Foundation
NC Notification No. 64/2010-Income Tax WHEREAS by notification of the Government of India in the Ministry of Finance (Department of Revenue), number S.O.713(E), dated the 8th August, 1995, issued under sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had specified at serial number 2, for Construction, establishment and running
NC Notification No. 63/2010-Income Tax WHEREAS by notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.O. 1145(E), dated 16th July, 2007, issued under clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had notified at serial number 1, Up-gradation and provision of additional health care facility and free ward plus
NC Notification No. 62/2010-Income Tax WHEREAS by notification of the Government of India in the Ministry of Finance (Department of Revenue), number S.O. 224(E), dated the 16th March, 1994, issued under sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had specified at serial number 3, for World Memorial Fund T.B. Project-Four mobile teams
The Central Board of Direct Taxes (CBDT) has constituted a three-member committee to inquire into income tax loss to Mumbai caused due to non-transmission of important information on unaccounted income to field officials concerned. The Central Information Branch (CIB) of I-T department in Mumbai had collected the information which could not be disseminated to the assessing officers for action, as they were locked up in the faulty computer system of the department.
NC Notification No. 61/2010-Income Tax WHEREAS by notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.O. 1462(E), dated 17th June, 2008 issued under clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961) the Central Government had notified at serial number 8, Mid-day meal project for district Faridabad, Haryana by Iskcon Food Relief
NC Notification No. 60/2010-Income Tax WHEREAS by notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.O. 1462(E), dated 17th June, 2008, issued under clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had notified at serial number 10, Mid-day meal project for Uttar Pradesh by Iskcon Food Relief Foundation
NC Notification No. 59/2010-Income Tax WHEREAS by notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.O. 92(E), dated the 2nd February, 1996, issued under clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had notified at serial number 5, “Conduct eye operation, polio operation camps, oxygen cylinder
Notification No. 59/2010-Income Tax In exercise of the powers conferred by clause (v) of the Explanation to section 48 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby makes the following amendment in the notification of the Government of India in the Ministry of Finance (Department of Revenue), Central Board of Direct Taxes number S.O. 2292(E), dated the 9th September, 2009, namely:-
Opining that the amendment of Section 43A of the Act by the Finance Act, 2002 with effect from 1st April, 2003 is amendatory and not clarificatory and would thus, apply prospectively, the Court explained that under the unamended Section 43A, adjustment to the actual cost takes place on the happening of change in the rate of exchange, whereas under the amended Section 43A,
