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Income Tax : Perquisites and Profits in Lieu of Salary are important components of taxable income under the Income Tax Act of 1961. These refer...
Income Tax : Budget 2025-26 focuses on growth, tax relief, and investment. GDP projected at 6.3-6.8%, new tax slabs ease burden on middle class...
Income Tax : Explore the New Tax Bill 2025, replacing the Income Tax Act of 1961. Learn about its simplified structure, global alignment, and c...
Income Tax : Explore the feasibility of flat tax in India. Analyze its impact on equity, revenue, and socio-economic challenges compared to pro...
Income Tax : Explore how new tax rebate under Section 87A allows individuals to avoid tax on incomes up to Rs 12 lakh. Learn through illustrati...
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 : Therefore, the procedure that is required to be completed for issuance of notice under Section 148 of the Act is required to be co...
Income Tax : ITAT Pune deletes additions against Ganraj Homes LLP based on extrapolated on-money allegations, citing lack of corroborative evid...
Income Tax : ITAT Chennai held that addition under section 69 towards unaccounted gold and silver jewellery set aside relying on CBDT instructi...
Income Tax : Kerala High Court held that recovery of tax arrears by income tax department from property that was already auctioned by Kerala Ge...
Income Tax : Delhi High Court held that license fees paid to M/s. Remfry & Sagar for use goodwill vested in the company is allowable as deducti...
Income Tax : The Indian government is set to introduce the new Income Tax Bill, 2025, in the Lok Sabha on February 13, 2025. This comprehensive...
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...
Notification No.S. O. 675(E) – 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 directs that the Commissioner of Income-tax (Central), Patna, shall (i) have jurisdiction over all such cases or classes of cases as may be assigned to him in terms of section 127 of the Income-tax Act, for the purpose of the
Notification No.S. O. 674(E) – Income Tax In exercise of the powers conferred by sub-section (1) of section 54EB of the Income-tax Act, 1961 (43 of 1961), and in supersession of the Notification S.O. 7(E), dated 5th January, 1998, and S. O. 972(E), dated 13th November, 1998, published in the Gazette of India, Extraordinary, on 5th January, 1998, and dated 13th November, 1998, respectively, the Central Board of Direct
Notification No. 11043/1999 – Income Tax In exercise of the powers conferred by subsection (1) and sub-section (2) of section 120 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes, hereby makes the following further amendments in the notification of the Government of India
Notification No. 11042/1999 – 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 directs that the Commissioner of Income-tax (Central), Patna shall
Notification No. 11041/1999 – Income Tax In exercise of the powers conferred by sub-section (1) of section 54EB of the Income-tax Act, 1961 (43 of 1961), and in supersession of the Notification S.O. 7(E) dated 5th January, 1998 [published at (1998) 144 CTR (St) 47] and S.O. 972(E) dated 13th November, 1998 [published at (1998) 150 CTR (St) 8], published in the Gazette of India Extraordinary on the 5th January
Notification No. 11040/1999 – Income Tax In pursuance of sub-clause (ii) of clause (a) of sub-section (1) of section 138 of the Income-tax Act, 1961, (43 of 1961), the Central Government hereby specifies the Director, Anti Corruption Bureau, Gujarat, Government of Gujarat or any other officer, not below the rank of Superintendent of Police, duly authorised by him in writing in respect of such specific case for the purpose of the said
Notification No.S. O. 2400 – Income Tax It is notified for general information that Manipal Housing Finance Syndicate Ltd., Manipal House, Manipal 576119 (DK), Karnataka, has been approved by the Central Government for the purposes of section 36(1)(viii) of the Income-tax Act, 1961, for the assessment years 1999-2000
Notification No. 11031/1999 – Income Tax It is notified for general information that M/s Manipal Housing Finance Syndicate Limited, Manipal House, Manipal-576 119 (D.K) Karnataka, has been approved by the Central Government for the purposes of section 36(1)(viii) of the Income-tax Act, 1961, for the assessment year 1999-2000
Notification No. 11030/1999 – Income Tax It is notified for general information that enterprise, listed at para (3) below has been approved by the Central Government for the purpose of section 10(23G) of the Income-tax Act, 1961, read with rule 2E of the Income-tax Rules, 1962, for the assessment years 1999-2000, 2000-2001 and 2001-2002
Answers given by the High Court that (i) the assessee who made the payments to the three non-residents was under obligation to deduct tax at source under Section 195 of the Act in respect of the sums paid to them under the contracts entered into; and (ii) the obligation of the respondent-assessee to deduct tax under Section 195 is limited only to appropriate proportion of income chargeable under the Act, are correct.
