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Income Tax : Have questions about income tax payment? Read this article to find answers to frequently asked questions about income tax, includi...
Income Tax : Explore common FAQs on income tax assessments, including types, procedures, and time limits for sections 143, 144, and 147....
Income Tax : Learn about tax loss adjustments, including intra-head and inter-head, carry forward rules, and restrictions on set-offs under Ind...
Income Tax : Learn about clubbing of income under Indian tax laws, where income of one person is included in another's taxable income, includin...
Income Tax : Learn what constitutes capital gains, how they are taxed, the types of capital assets, and distinctions between short-term and lon...
Income Tax : Join our 5-day live course from Sept 8-12, 2024, for an in-depth understanding of tax audits under Section 44AB, with practical in...
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...
Income Tax : As of August 11, 2024, net direct tax collections for FY 2024-25 stand at Rs. 6.93 lakh crores, marking a 22.48% growth compared t...
Income Tax : ITAT Ahmedabad held that matter needs to be remanded back as assessee failed to furnish corroborative documentary evidence to prov...
Income Tax : ITAT Mumbai held that notice issued u/s. 274 r.w.s. 271(1)(c) of the Income Tax Act without specifying the particular limb is unsu...
Income Tax : Kerala High Court held that condonation application for delay in filing the audit report in Form-10B should have been considered ...
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...
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...
As per the CBDT Circular discussed in the case of Smt. Pati Devi vs. ITO; 240 ITR 727 Karnatka 500gm, jewellery is expected in the possession of a married lady and that much of ornaments cannot be seized. If we go with the CBDT Circular dated 11.05.1994 and the ratio laid down in the case of Smt. Pati Devi (supra), then each lady is expected to own 500gm. ornaments.
Notification No.S. O. 545(E) – Income Tax In exercise of the powers conferred by sub-section (1) of section 54EB (hereinafter referred to as the said section) of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby specifies
Notification No.S. O. 544(E) – Income Tax In exercise of the powers conferred by sub-section (1) of section 54EA (hereinafter referred to as the said section) of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby specifies
Notification No. 10991/1999 – Income Tax In exercise of the powers conferred by sub-section (1) of section 54EB (hereinafter referred to as the said section) of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby specifies
Notification No. 10990/1999 – Income Tax In exercise of the powers conferred by sub-section (1) of section 54EA (hereinafter referred to as the said section) of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby specifies
Circular No. 777-Income Tax In view of the unforeseen and unavoidable developments taking place in Kargil and nearby areas, employees of Central Government, State Governments, Public Sector undertakings, Private Sector Companies and Corporations, and local authorities are making donations to the National Defence
Notification No.S. O. 513(E) – Income Tax In exercise of the powers conferred by item (h) of sub-clause (iv) of clause (15) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies the National Bank for Agriculture and Rural Development Tax-free Bonds-2004 (II Series) carrying an interest of 8.25% per annum payable half-yearly for a period of seven years of rupees one lakh each for an
Notification No. S. O. 510(E) – Income Tax In exercise of the powers conferred by clause (ii) of sub-section (1) of section 80L of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies the 7-years 14.5% Secured, Redeemable, Non-convertible and Taxable Debentures in the nature of bonds (VIIth Issue–I Series) of Rs. 1,00,000 each, carrying an interest of 14.5% per annum, payable half-yearly for an
Notification No.S. O. 509(E) – Income Tax In exercise of the powers conferred by clause (ii) of sub-section (1) of section 80L of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies the 5-years 13.5% Secured, Redeemable, Non-convertible and Taxable Debentures in the nature of bonds (VIIth Issue—II Series) of Rs. 1,00,000 each, carrying an interest of 13.5% per annum, payable half-yearly for an
Notification No.S. O. 508(E) – Income Tax In exercise of the powers conferred by clause (ii) of sub-section (1) of section 80L of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies the 5-years 13.5% Secured Redeemable Non-convertible and Taxable Debentures in the nature of bonds Power Grid Bonds (VIIth Issue) bearing distinctive numbers from G-0000001 to G-2000000 of Rs. 1,000 each
