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Income Tax : The 2025 amendment in Section 143(1) of the Income Tax Act introduces new compliance requirements. Taxpayers must ensure consisten...
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 : 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 Kolkata quashes assessments in absence of incriminating material; DVO’s cost estimate alone held insufficient under Abhisar...
Income Tax : ITAT Lucknow rules audit fee provisions are not allowable unless liability accrues; EPF disallowance sent back for verification....
Income Tax : ITAT Nagpur sets aside CIT(E)'s rejection of 12A registration, holding assessee not liable for file access issues on ITBA portal....
Income Tax : ITAT Pune rules one-time membership and share fees as capital receipts for Veershaiv Cooperative Bank, reversing lower authority�...
Income Tax : ITAT Pune grants partial relief in cash deposit case during demonetization under Section 69A. Dispute centered on unexplained depo...
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.S. O. 110(E) – Income Tax In exercise of the powers conferred by sub-clause (f) of clause (iii) of sub-section (3) of section 194A of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies the West Bengal Industrial Development Corporation Limited, Calcutta, for the purposes of the said sub-clause
Circular No. 773-Income Tax At present, the payee is required to put his signature in the space provided for “Claimants signature” on the reverse of the refund order. The responsibility of the collecting bank in dealing with “account payee” instruments is well-defined under the Negotiable Instruments Act. No specific purpose is served by obtaining this additional discharge on the reverse of this cheque. On the other hand, it
Notification No.S. O. 525 – 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 1998-99, 1999-2000 and 2000-2001
Notification No.S. O. 524 – 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 1998-99, 1999-2000 and 2000-2001
Notification No.523 – Income Tax It is notified for general information that “Home Trust Housing Finance Company Ltd., Calcutta”, 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 to 2001-2002.
Notification S.O. 418 dated 2nd Feb 1999 corrects Income Tax Notification No. 10775, pursuant to section 10(23G) of the Income-tax Act.
Notification No.S. O. 48(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 makes the following amendment in the notification of the Government of India in the Ministry of Finance S. O. 548(E), dated 9th July, 1990, published in the Gazette of India, Extraordinary, Part II, section 3
Beware! Changes in Income-Tax Act 1961 impact educational and medical institutions. Understand the consequences of omitting Sections 10(22) and 10(22A) and the amendments to Section 10(23C). Stay informed to ensure compliance. Disclaimer: For informational purposes only.
Notification No. 289 – Income Tax It is notified for general information that “Vijaya Home Loans Ltd., Bangalore”, 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 to 2000-2001
Notification No. 522 – Income Tax It is notified for general information that “Vysya Bank Housing Finance Ltd., Bangalore”, 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 to 2001-2002
