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Income Tax : The introduction of Section 194O in the Income Tax Act, 1961 for e-commerce transactions, has created certain overlaps with Sectio...
Income Tax : Finance Bill 2025 limits tax loss carry-forward under Section 72A to 8 years from the original assessment year. Learn about its im...
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 : 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 : 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 Pune rules that late filing of Form 67 does not bar foreign tax credit under Section 90. Read about the case of Shashank Sada...
Income Tax : ITAT Ahmedabad sets aside CIT(A)'s dismissal of appeal due to non-appearance, directing fresh consideration with a proper hearing ...
Income Tax : ITAT Bangalore remits the case of Gold Palace Jewellers back to CIT(A) for fresh consideration, citing a 4-year delay and lack of ...
Income Tax : ITAT Pune confirms CIT's order under Section 263, finding errors in reassessment proceedings for Gourishankar Education Society. A...
Income Tax : ITAT Mumbai rules in favor of B. Braun Medical India, deleting ₹2 Cr addition u/s 68, citing it as an advance payment, not unexp...
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...
Notification No.S.O.2524 – Income Tax In exercise of the powers conferred by clause (22B) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies the United News of India as a news agency set up in India solely for collection and distribution of news, for the purposes of the said clause for the assessment years 1994-95, 1995-96 and 1996-97
Notification No.S.O.101(E) – Income Tax In exercise of the powers conferred by clause (23D) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies J. M. Mutual Fund set up under a trust deed dated 1st September, 1994, by J. M. Financial and Investment Consultancy Services Limited and J. M. Share and Stock Brokers Limited, and registered with the Securities and
Notification No.S.O.112(E) – Income Tax In exercise of the powers conferred by clause (a) of the Explanation to section 115AD of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies the Foreign Institutional Investors specified in the table below for the purposes of the said section.
Notification No.S.O.465 – Income Tax In exercise of the powers conferred by clause (viii) of sub-section (1) of section 36 of the Income-tax Act, 1961 (43 of 1961), the Central Government has approved Messrs BOB Housing Finance Ltd., B-38A, Ahimsa Circle, Ashok Marg ‘C’ Scheme, Jaipur – 302 001, as a company for the purposes of the said clause for the assessment year 1995-96
Notification No.S.O.66(E) – Income Tax In exercise of the powers conferred by clause (iiia) of the proviso to section 193 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies, for the purposes of that clause, the difference payable between the redemption value and the bid prize of Zero Coupon Bonds of five years tenure of the Government of India, issued under the scheme for sale of Zero Coupon
Circular No. 699-Income tax Queries have been raised as to whether the requirement of deduction of income-tax at source under section 194-I of the Income-tax Act applies in case of payments by way of rent to the Government, statutory authorities referred to in section 10(20A) and local authorities whose income under the head ‘Income from house property’ or ‘Income from other sources’, is exempt from income-tax
Hind Wire Industries Ltd. V CIT (1995) 212 ITR 639 SC- What falls for consideration in the present case is the interpretation of the expression from the date of the order sought to be amended in sub-section (7) of section 154 as it stood then It is obvious that the word order has not been qualified in any way and it does not necessarily mean the original order It can be any order including the amended or rectified order.
Notification No.S.O.50(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 VIIth Series Issues 7-years 16.5% (Taxable) Secured Redeemable Non-cumulative Bonds bearing distinctive numbers from G-14671801 to G-14971800 of Rs. 1,000 each aggregating for an amount of Rs. 30 crores
Notification No.S.O.49(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 10.5% per annum, tax-free Secured Redeemable Non-cumulative Bonds (VIIth Series Issue) bearing distinctive numbers G-3800001 to G-4800000 aggregating to an amount of Rupees 100 crores (Rupees one
Circular No. 698-Income Tax II. Rates for deduction of tax at source during the financial year from income other than Salaries 5. The rates for deduction of income-tax at source during the financial year 1991-92 from incomes other than Salaries have been specified in Part II of the First Schedule to the Act. These rates apply to income by way of interest (including interest on securities), dividends, insurance commission,
