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Income Tax : Understand the provisions of Sections 269SS, 269ST, and 269T under Indian tax law, their implications, and reporting requirements ...
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Income Tax : Learn to handle faceless income tax assessments using AI tools like ChatGPT in a 2-hour live course on Sept 1, 2024. Enhance effic...
Income Tax : The Central Action Plan 2024-2025 by CBDT aims to optimize India's direct tax system, focusing on revenue, litigation, taxpayer se...
Income Tax : Join our live course from Aug 23-25, 2024, to master tax audits, including Form 3CD, financial statements, and GST, with practical...
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Income Tax : ITAT Mumbai deletes disallowance of capital gains by DCIT after confirming investment in property with Charity Commissioner approv...
Income Tax : ITAT Mumbai held that confirmation of addition u/s. 69A and 68 of the Income Tax Act without finding any fault with the evidence s...
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Income Tax : Finance Act 2023 updates the process for filing applications under Section 10(46A) of the Income-tax Act. Standardized procedures ...
Income Tax : On August 16, 2024, President Droupadi Murmu officially granted her assent to the Finance (No 2) Bill, 2024. With this move, the b...
Income Tax : Explore the Finance Bill 2024, detailing income tax rates, surcharges, and provisions for various taxpayers, including individuals...
Income Tax : Insight Instruction No. 79 details procedures for managing high-risk PAN cases in the Insight portal, guiding tax officers through...
Income Tax : UIDAI's specified income receives tax exemption for AY 2024-2025 to 2028-2029 under Income-tax Act, 1961, as per the latest CBDT n...
In exercise of powers conferred by the sub-clause (iv ) of clause (23C) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies the The Theosophical Society, Adyar, Chennai for the purpose of the said sub-clause for the assessment year 2005-2006 to 2007-2008 subject to the following conditions
The apex court in Hindustan Steel Ltd. v. State of Orissa had long ago settled the law that penalty is not to be ordinarily imposed unless the party either acted deliberately in defiance of law and was guilty of conduct contumacious or dishonest or acted in conscious disregard of its obligations. Penalty will also not be imposed merely because it is lawful to do so.
In exercise of powers conferred by the clause (23) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies the Yachting Association of India, new Delhi for the purpose of the said sub-clause for the assessment year 1999-2000 to 2001-2002 subject to the following conditions
In exercise of powers conferred by the sub-clause (iv ) of clause (23C) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies the Indian Institute of Public Administration, New Delhi for the purpose of the said sub-clause for the assessment year 2004-2005 to 2006-2007 subject to the following conditions
In exercise of powers conferred by the sub-clause (iv) of clause (23C) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies the Indira Gandhi National Centre for the Arts, Janpath, New Delhi for the purpose of the said sub-clause for the assessment year 2004-2005 to 2006-2007 subject to the following conditions
In exercise of powers conferred by the sub-clause (iv ) of clause (23C) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies the of Institute for Financial Management and Research, Chennai for the purpose of the said sub-clause for the assessment years 2002-2003 to 2004-2005 subject to the following conditions
In exercise of powers conferred by the sub-clause (iv) of clause (23C) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies the of The Bharat Scouts & Guides, New Delhi for the purpose of the said sub-clause for the assessment years 2004-2005 to 2006-2007 subject to the following conditions
Explore the legal implications of extinguishment of property rights in the CIT vs. Smt. Laxmidevi Ratani case at the Madhya Pradesh High Court. Uncover the details of the dispute, the compromise, and the tax implications. Understand the court’s ruling on whether the amount of Rs. 7,34,000 is considered a capital receipt subject to capital gains tax, as per Section 2(47) of the IT Act. Stay informed on the legal precedents cited, including the Bombay High Court decisions and the Supreme Court’s stance on property rights extinguishment.
Notification No.58/2005 – Income Tax In exercise of the powers conferred by section 295 read with sub-section (11B) of section 80-IB 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
In exercise of powers conferred by the sub-clause (iv) of clause (23C) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies the Punjab Infrastructure Development Board, (PIDB), Chandigarh for the purpose of the said sub-clause for the assessment year 2003-2004 to 2005-2006 subject to the following conditions
