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Income Tax : Learn about Section 40(b) limits on partner remuneration and the introduction of Section 194T for TDS on remuneration, effective A...
Income Tax : Budget 2025 has brought significant simplification in the tax treatment of house properties, particularly for self-occupied proper...
Income Tax : Understand how to compute total income and tax liability under the Income Tax Act, including adjustments for business, capital gai...
Income Tax : Learn about income tax filing requirements for proprietors in the USA, including forms, schedules, deductions, deadlines, and pena...
Income Tax : Understand the changes to the Cost Inflation Index for FY 2024-25, including indexation removal on long-term capital gains and new...
Income Tax : CPC (TDS) reminds deductors to file TDS Statement 26Q for Q2 FY 2024-25. Late/non-filing may attract fees and affect TDS credit fo...
Income Tax : Union Cabinet has approved the new Income Tax Bill 2025, aiming to simplify and modernize India's tax system by replacing the 1961...
Income Tax : CBI registers case against 9, including Deputy Commissioner, 2 Inspectors, and 5 CAs, for sabotaging Faceless Tax Scheme; searches...
Income Tax : India's tax arrears stand at ₹47 lakh crore as of Dec 2024. CBDT & CBIC are taking steps, including asset identification, litiga...
Income Tax : India decriminalizes minor direct tax offenses to ease compliance. New measures include litigation management, compounding guideli...
Income Tax : ITAT Ahmedabad remands Hari Krushna Machintech Pvt Ltd's appeals to CIT(A) for reassessment. Issues include ex-parte dismissal and...
Income Tax : ITAT Kolkata invalidates reassessment in Pradip Kumar Jajodia HUF case, citing lack of tangible evidence for alleged bogus LTCG on...
Income Tax : ITAT Delhi sets aside search assessment in Amit Gupta & Sons HUF case, citing lack of proper approval under Section 153D of the In...
Income Tax : ITAT Agra restores penalty appeal in Devendra Kumar Dubey Vs ITO for reassessment by CIT(A). Case highlights concealment penalty o...
Income Tax : Delhi High Court rules on Section 153C notices for AYs 2014-15 to 2020-21 in Dev Technofab Limited Vs DCIT, citing lack of incrimi...
Income Tax : Bhaikaka University, Gujarat, is approved for scientific research under Section 35(1)(ii) of the Income Tax Act, 1961, effective f...
Income Tax : Notification No. 14/2025 updates Form 49C submission rules for liaison offices under the Income-Tax Act. Filing deadline set to 8 ...
Income Tax : CBDT amends Income-Tax Rules, 1962, updating regulations for Infrastructure Debt Funds, including investment criteria, bond issuan...
Income Tax : CBDT authorizes data sharing with DFPD to identify PMGKAY beneficiaries. MoU to govern data confidentiality, transfer mode, and ti...
Income Tax : BILL No. 14 OF 2025 THE FINANCE BILL, 2025 (AS INTRODUCED IN LOK SABHA) THE FINANCE BILL, 2025 ARRANGEMENT OF CLAUSES ______ AS IN...
this notification will not apply in relation to any income being profits and gains of business, unless the business is incidental to the attainment of the objectives of the assessee and separate books of accounts are maintained in respect of such business
Notification No.199/2005 – Income Tax Whereas the convention between the Government of the Republic of India and the Government of the Portuguese Republic for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income was notified in the notification of the Government of India, the Ministry of Finance (Department of Revenue), number G.S.R. 542(E) dated the 16th June, 2000
Whereas, in the matter of import of Aniline, falling under sub-heading number 2921 41 of the first Schedule to the Customs Tariff Act, 1975 (51 of 1975), originating in or exported from Japan and United States of America, the Central Government had imposed anti-dumping duty vide notification number 128/2000-Customs, dated the 6th October, 2000, published in the Gazette of India, Extraordinary, number G.S.R. 772(E), dated the 6th October,2000.
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 National Foundation of India, New Delhi for the purpose of the said sub-clause for the assessment years 2002-03 to 2004-05 subject to the following conditions
There are lot of ambiguities in the provisions of fringe benefit tax (FBT), which have been newly introduced in the Income-Tax Act, 1961 (the Act), vide the Finance Act, 2005. Therefore, tax-payers were expecting that the explanatory notes in respect of the aforesaid provisions, to be issued by the Central Board of Direct Taxes (CBDT), would clear up the uncertainties and ambiguities, etc., which have crept there into
Notification No.198/2005 – Income Tax S.O. 1260(E).— In exercise of the powers conferred by clause (6C) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby declares that any income arising to ‘M/s. BAe Systems (Operations) Limited’, Warwick House, P.O. Box 87, Faraborough Aerospace Centre, Faraborough, Hampshire, GU14 6YU, United Kingdom and ‘M/s. Rolls Royce
The Central Board of Direct Taxes (CBDT) has come out with Circular No.8/2005, dated 29.8.2005, providing Explanatory Notes & clarifications in respect of the provisions of Fringe Benefit Tax(FBT), which have been newly introduced, vide Finance Act, 2005. In my earlier Article on ‘Fringe Benefit Tax – ambiguities explained and doubts resolved’ [published in 276 ITR (Jour.) page 1],
Notification No.197/2005 – Income Tax In exercise of the powers conferred under section 295 read with sub-clause(ii ) of clause (14) of section 10 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
Notification No.196/2005 – Income Tax In exercise of the powers conferred by sub-sections (1) and (2) of section 120 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following amendments in the notification of the Government of India, Ministry of Finance (Department of Revenue), Central Board of Direct Taxes, Number S.O. 994(E) dated the 9th September, 2004, namely
Therefore, in exercise of the powers conferred by sub-section (1) of section 9A, read with the second proviso to sub-section (5) and sub-section (6) of that section of the said Customs Tariff Act and rule 23 of the Customs Tariff (Identification, Assessment and Collection of Anti-dumping Duty on Dumped Articles and for Determination of Injury) Rules, 1995, the Central Government hereby makes the following amendment in the notification of the Government of India in the Ministry of Finance (Department of Revenue) No. 109/2000-Customs, dated the18th August 2000,namely.
