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Income Tax : The Finance Act, (2), 2024 has made certain changes relating to levy of income tax on consideration received on buy-back of shares...
Income Tax : Summary: Income additions by tax authorities due to discrepancies between a taxpayer’s declared income and the details in Fo...
Income Tax : The Central Action Plan 2024-2025 by CBDT aims to optimize India's direct tax system, focusing on revenue, litigation, taxpayer se...
Income Tax : Join our live course from Aug 23-25, 2024, to master tax audits, including Form 3CD, financial statements, and GST, with practical...
Income Tax : Join our 5-day live course from Sept 8-12, 2024, for an in-depth understanding of tax audits under Section 44AB, with practical in...
Income Tax : Learn to handle faceless income tax assessments using AI tools like ChatGPT in a 2-hour live course on Sept 1, 2024. Enhance effic...
Income Tax : As of August 11, 2024, net direct tax collections for FY 2024-25 stand at Rs. 6.93 lakh crores, marking a 22.48% growth compared t...
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Income Tax : ITAT Hyderabad held that voluntary surrender of income in good faith cannot be considered as concealment of income. Hence, penalty...
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Income Tax : ITAT Ahmedabad held that addition towards unexplained cash credit under section 68 of the Income Tax Act unwarranted as the amount...
Income Tax : Delhi High Court held that mechanical approval granted by PCIT, vide general order of approval for all the 111 cases without satis...
Income Tax : Finance Act 2023 updates the process for filing applications under Section 10(46A) of the Income-tax Act. Standardized procedures ...
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Income Tax : Explore the Finance Bill 2024, detailing income tax rates, surcharges, and provisions for various taxpayers, including individuals...
Income Tax : Insight Instruction No. 79 details procedures for managing high-risk PAN cases in the Insight portal, guiding tax officers through...
Income Tax : UIDAI's specified income receives tax exemption for AY 2024-2025 to 2028-2029 under Income-tax Act, 1961, as per the latest CBDT n...
The Board have been considering the manner of refunding the amount paid in excess of the tax deducted and/or deductible (whichever is more) under sections 192 to 194D of the Income-tax Act. The Board are advised that such excess payment can be refunded, independently of the Income-tax Act, to the person responsible for making such payment subject to necessary administrative safeguards.
In exercise of the powers conferred by clause (v) of sub-section (23C) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies Arulmigu Kapaleeswarar Temple for the purposes of the said section for the assessment year(s) 1973-74 to 1981-82.
In exercise of the powers conferred by clause (v) of sub-section (23C) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies Catholic Mission, Trichi, for the purpose of the said section for the assessment year(s) 1978-79 to 1981-82.
In exercise of the powers conferred by clause (v) of sub-section (23C) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies Diocese of Calcutta (Church of North India) for the purpose of the said section for the assessment year(s) 1979-80 to 1981-82.
Circular No. 284-Income Tax The question as to whether gifts in kind made by any person would be eligible for exemption under section 5(1)(v ) has been considered by the Board in consultation with the Ministry of Law.
In exercise of the powers conferred by sub-section (2)(b) of section 80G of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies Kannanthur Sri Thodakukkin Daivasthana, Balepuni Village, Dakshina Kannada District to be a place of public worship of renown throughout the State of Karnataka for the purposes of the said section.
That the C. C. Shroff Research Institute, New Delhi, will maintain a separate account of the sums received by it for scientific research in the field of natural or applied sciences (other than agricultural/animal husbandry/fisheries and medicines).
In exercise of the powers conferred by clause (v) of sub-section (23C) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies Diocese of Kurnool, for the purposes of the said section for the assessment year(s) 1973-74 to 1981-82.
In exercise of the powers conferred by clause (iv) of sub-section (23C) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies Punjab Amalgamated Fund for the Welfare of Ex-servicemen for the purpose of the said section for and from the assessment year(s) 1978-79.
In exercise of the powers conferred by clause (iv) of sub-section (23C) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies Cancer Patients Aid Association, Bombay, for the purpose of the said section for the assessment year(s) 1981-82.
