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Income Tax : To give relief to small taxpayers from tedious job of maintaining of books of account and getting accounts audited, Income-tax Act...
Income Tax : Understand income tax rebate u/s 87A and LTCG tax u/s 112A under the new tax regime for FY 2024-25 with calculation rules, limits,...
Income Tax : Tax loss harvesting is a tax planning strategy that allows taxpayers, especially investors, to lower their capital gains tax liabi...
Income Tax : ITAT Chennai rules unaccounted customer deposits, with traceable identities and commercial substance, are liabilities, not income ...
Income Tax : Understand Form 15G & 15H for no TDS on interest. Learn who should file, deadlines, online submission, and penalty details....
Income Tax : ITAT enables e-filing and virtual hearings; over 26,000 e-filings and 1.22 lakh video hearings conducted till Feb 2025, per Minist...
Income Tax : The Finance Bill 2025 proposes tax exemption on income up to ₹12 lakh, revised tax slabs, and a ₹75,000 standard deduction for...
Income Tax : A summary of corporate tax concessions in India, including key deductions, exemptions, and revenue impact from 2021-24 under the I...
Income Tax : Get insights on key amendments in the Income-tax Act, 1961, including changes to Sections 9A, 44BBD, 10(10D), and 158BB under the ...
Income Tax : JAOs face workload imbalances, limited manpower, and systemic issues post-Faceless Assessment Scheme. Suggestions for better resou...
Income Tax : ITAT Mumbai held that as per circular no. 6 of 2016 dated 29th February 2016, it is clear that it is the assessee who decides whet...
Income Tax : Delhi High Court held that section 153C of the Income Tax Act doesn’t required AO to find or uncover a relationship or an associ...
Income Tax : ITAT Mumbai held that the very basis of which the Assessing Officer formed the belief that the income liable to tax is escaped ass...
Income Tax : ITAT Pune rules mere execution of a development agreement without transfer of possession doesn't trigger capital gains tax. Follow...
Income Tax : Janata Grahak Madhyawarti Vs PCIT-4 (ITAT Pune) Facts of the Case: The assessee, a co-operative society involved in the business o...
Income Tax : ITAT Chandigarh held that ITO Ward-3(1), Chandigarh had no jurisdiction to issue notice to an NRI and hence consequently the asses...
Income Tax : CBDT introduces ITR-B for search and seizure cases under section 158BC of the Income Tax Act, effective from 1st September 2024....
Income Tax : CBDT sets 30 April 2025 as the last date to file declarations under the Direct Tax Vivad se Vishwas Scheme, 2024....
Income Tax : HUDCO bonds issued after April 1, 2025, notified as long-term assets under Section 54EC for capital gains exemption, usable for in...
Income Tax : CBDT grants tax exemption to Prayagraj Mela Pradhikaran under section 10(46A) of the Income-tax Act, effective from assessment yea...
Notification No. 10886/1999 – 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 7 years 8.85% tax-free (2004-VIIIth Series) non-convertible secured redeemable bonds of Rs. 1,00,000 each for an amount of Rs. 175 crores (Rupees one hundred seventy-five crores only) bearing distinctive numbers from 80000001 to 80017500 issued by Power Finance Corporation Limited for the purpose of the said item
Notification No. 10885/1999 – 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 9.5% tax-free Indian Renewable Energy Development Agency Energy Bonds (Series V) of Rupees one thousand each for an amount of Rupees one hundred crores only bearing distinctive numbers from 01 to
Notification No.10884 – 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 7 years 8.35% tax-free (2004-XXXIVth series) bonds of Rs. 50,00,000 each for an amount of Rs. 100 crores (Rupees one hundred crores only) bearing distinctive numbers from 600001 to 600200 issued by Rural
Notification No.S. O.1327 – Income Tax It is notified for general information that in respect of notifications and enterprises listed at para 2 (below), the approval of the Central Government granted earlier for the purpose of section 10(23G) of the Income-tax Act, 1961, for the assessment years 1998-99 to 2000-2001 be corrected to read as assessment years 1999-2000 to 2001-2002
Notification No.10881- Income Tax It is notified for general information that in respect of notifications and enterprises listed at para (2) below, the approval of the Central Government granted earlier for the purpose of section 10(23G) of the Income-tax Act, 1961 for assessment years 1999-99 to 2000-2001 be corrected to read as assessment years 1999-2000 to 2001-2002. The other terms and conditions for grant of
It cannot be a matter of an argument that the amount of sales by itself cannot represent the income of the assessee who has not disclosed the sales. The sales only represented the price received by the seller of the goods for the acquisition of which it has already incurred the cost. It is the realisation of excess over the cost incurred that only forms part of the profit
Notification No.S. O. 1125 – Income Tax It is notified for general information that Cent Bank Home Finance Ltd., Bhopal, 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 1998-99 and 1999-2000.
Notification No.10876 – Income Tax It is notified for general information that M/s Cent Bank Home Finance Ltd., Bhopal, has been approved by the Central Government for the purposes of s. 36(1)(viii) of the Income-tax Act, 1961, for the asst. yrs. 1999-99 and 1999-2000
Notification No.S. O. 1546 – Income Tax In exercise of the powers conferred by sub-sections (1) and (2) of section 120 of the Income-tax Act, 1961, and till other powers enabling me in this behalf, I, the Chief Commissioner of Income-tax, Calcutta, hereby direct that the officers mentioned in column
Notification No. S. O. 251(E) – Income Tax In the notification of the Government of India, in the Ministry of Finance (Department of Revenue), Central Board of Direct Taxes No. S.O. 925(E), dated 23rd October, 1998, published at pages 1 to 4 of the Gazette of India, Extraordinary, Part II, section 3, sub-section (ii), dated 23rd October, 1998, at page 3, in sub-rule (1) of rule 1, in line 10, for “(Twenty-fourth Amendment)
