Income Tax - Page 4865

Notification: S.O.349 Date of Issue: 24/1/1967

Notification: S.O.349 24/01/1967

In pursuance of sub-section (1) of section 54A of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby approves the following investments for the purposes of that section in re...

ITO must estimate Income on fair basis and not arbitrarily if Assessee not maintained sufficient books of account

Badrinath Agarwal. Vs Commissioner of Income-Tax, U. P. (Allahabad High Court)

Badrinath Agarwal v. CIT (Allahabad High Court) 65 ITR 242 (All. ) In estimating the income the conditions of trade obtaining and the average margin of profit in the particular line of business are to be borne in mind. It is clear that these factors in the present case have been kept in view and, therefore, it is not possible to say that ...

Notification: S.O.289 Date of Issue: 19/1/1967

Notification: S.O.289 19/01/1967

In pursuance of clause (42A) of section 2 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies the 31st day of May, 1966, as the later date for the purposes of the period referred to in the said clause ...

Notification: S.O.372 Date of Issue: 11/1/1967

Notification No. S.O.372 11/01/1967

In exercise of the powers confered by sub-section (6) of section 88 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies Shri Madurakali Amman Temple (Siruvachur), Perambular Taluk, Tiruchirapalli Distt., Madras, to be of historic, archaeological and artistic importance for the purpose of the said section ...

CBDT Letter : F. No. 12/19/64-IT(A-I), dated 2-1-1967

Letter : F. No. 12/19/64-IT(A-I 02/01/1967

Reference is invited to the Central Board of Direct Taxes letter F. No. 12/19/64-IT(B), dated 22-2-1966 , where in it was intimated that the house rent allowance given at flat rates may be treated as exempt from income-tax without verification of the fact whether the employee concerned had paid any house rent and the allowance exempted is...

Notification: S.O.3646 Date of Issue: 15/11/1966

Notification: S.O.3646 15/11/1966

Notification: S.O.3646 The Society for the Care, Treatment and Training of Children in Need of Special Care, Sewri Hills, Bombay has been approved by the Indian Council of Medical Research, the prescribed authority, for the pruposes of clause (ii) of sub-section (1) of section 35 of the Income-tax Act, 1961 (43 of 1961)....

Notification: S.O.3277 Date of Issue: 13/10/1966

Notification: S.O.3277 13/10/1966

In exercise of the powers conferred by sub-section (6) of section 88 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies Sri Kaleshwaraswamy Temple, Kaleshwaram (v), Manthani Taluk, Karimnagar District, Andhra Pradesh, to be of historic, archaeological and artistic importance for the purpose of the said sectio...

Shree Meenakshi Mills Ltd. vs Commissioner Of Income-Tax (Supreme Court)

Shree Meenakshi Mills Ltd., Madurai Vs Commissioner of Income-Tax, Madras (Supreme Court of India)

Expenditure incurred to resist in a civil proceeding the enforcement of a measure-legislative or executive, which imposes restrictions on the carrying on of a business or to obtain a declaration that the measure is invalid would....

Notification: S.O.2772 Date of Issue: 15/9/1966

Notification: S.O.2772 15/09/1966

In the notification of the Central Board of Direct Taxes No. S.O. 2451, dated the 10th August, 1966, published on pages 1225 to 1229 in Part II, Section 3, Sub-section (ii) of the Gazette of India, Extraordinary, da...

Notification: S.O.2451 Date of Issue: 10/8/1966

Notification: S.O.2451 10/08/1966

Notification: S.O.2451 This Notification contains Amendment to Income-tax (Second Amendment) Rules, 1966 carried out on 10th August, 1966 not reproduced here as it is already contained in the body of the Rules itself...

Latest Income Tax News

Income tax is the part of your income which you are required to pay to the Indian government for funding various infrastructural developments, pay salaries to those who are employed by the central or the state governments, etc. All the taxes which are imposed are based on law, and the law which governs provisions about taxes on income is the Income Tax Act, 1961.

Income tax needs to be paid by each and every individual, Hindu Undivided Family, Association of Persons, Body of Individuals, companies, corporate firms, local authorities and every artificial juridical person generating any income based on the income tax slab rates.

Income tax might seem to be a tedious tax for most us, and it has a lot to do with the fact it involves a lot of nitty-gritty and details while calculating and in paying income tax. However, if you need a clear picture about income tax which is simple and easy to understand then you are at the right place.
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