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Income Tax : CBDT’s shift to electronic Form 10F filing poses compliance challenges for resident payers and non-residents, raising concerns o...
Income Tax : Learn about Income Tax Audit Form 10B & 10BB for charitable trusts, recent changes, filing deadlines, and compliance under Section...
Income Tax : Updated TDS & TCS rates from April 1, 2025. Check applicable thresholds, deductions, and compliance requirements for various payme...
Income Tax : Understand Section 43B(h) of the Income Tax Act, MSME classification, payment timelines, tax disallowance, interest on delays, and...
Income Tax : Indian crypto investors who thought they could dodge taxes by trading on foreign platforms like Binance are in for a rude awakenin...
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 : ITGOA urges CBDT to address workload imbalances in JAO charges. Proposes systematic reorganization to ensure equitable distributio...
Income Tax : IT officials can access digital records during searches under IT Act, 1961, but personal emails and social media access is not all...
Income Tax : The updated return facility encourages voluntary tax compliance, allowing taxpayers to correct income omissions. Proposal to exten...
Income Tax : Delhi High Court ruled on the validity of re-assessment proceedings in PCIT-04 vs Ganesh Ganga Investments Pvt Ltd, focusing on bo...
Income Tax : Bombay High Court directs tax revision for an AI-generated invalid return order lacking reasoning, stressing natural justice and h...
Income Tax : ITAT Kolkata rules in favor of Anindya Sarkar, allowing Foreign Tax Credit despite delayed Form 67 filing, citing DTAA provisions ...
Income Tax : During the course of a survey, it was seen that the assessee had defaulted in deducting tax at source on interest paid to AGE Pate...
Income Tax : ITAT Hyderabad held that addition on the basis of loose papers and documents found from the premises of third party is not tenable...
Income Tax : On 29 March 2025, the President of India granted assent to the Finance Act 2025, marking a significant milestone in the country’...
Income Tax : The Karnataka Urban Water Supply & Drainage Board receives tax exemption for specified income from FY 2023-24 to 2027-28 under Sec...
Income Tax : CBDT amends Income Tax Rules, effective April 1, 2025, revising Form 3CD, MSME interest provisions, buyback reporting, and loan/de...
Income Tax : The Government of India keeps Small Savings Schemes interest rates unchanged for Q1 FY 2025-26 (April–June 2025), as per the Min...
Income Tax : CBDT circular allows waiver of TDS/TCS interest under sections 201(1A)/206C(7) due to technical errors. Details on eligibility and...
Notification No. S.O.37(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 cent. (tax-free bonds) (Series 1-A bearing Serial Numbers 1 to 5,19,800 ; Series 1-B bearing Serial Numbers 1 to 3,100 ; Series 1-C bearing Serial Numbers 1 to 2,18,900 and Series 1-D bearing Serial
Notification No. S.O.38(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 cent. (tax-free bonds) (Series 2-A bearing Serial Numbers 1 to 40,00,000) of an amount of Rupees 400 crores” to be issued by the Konkan Railway Corporation Limited for the purpose of the said item
Circular No. 676-Income tax Representations have been received by the Board seeking waiver of interest chargeable under sections 234B and 234C of the Income-tax Act, 1961 for default in payment of instalments of advance tax by the due dates which are prescribed under section 211 of the Income-tax Act. In cases where the last date for making payment of such instalments
Notification No. S.O.371-Income Tax It is notified for general information that M/s. Parashwanth Housing Finance Corporation Limited, Harsiddha Chambers, 3rd Floor, Ashram Road, Ahmedabad-380 014 have been approved by the Central Government as a Housing Finance Company for the purposes of section 36(1)(viii) of the Income-tax Act, 1961, for the assessment years 1987-88 and 1991-92 to 1994-95.
Notification No. SO 9447-Income Tax Whereas a draft notification was published by the Central Government in exercise of the powers conferred by item (B) of clause (ii) of the proviso to sub-clause (c) of clause (1A), and item (b) of sub-clause (iii) of clause (14), of section 2 of the Income-tax Act, 1961 (43 of 1961), in the Gazette of India, Extraordinary, Part II, section 3,
Circular No. 675-Income tax Section 80RR of the Income-tax Act, 1961 provides that an individual resident in India, being an author, playwright, artist, musician, actor or sportsman (including an athlete) who derives income in exercise of his profession from the Government of a foreign State or any person not resident in India
Circular No. 674-Income Tax The scope of application of the provisions of section 43B to the sales tax collected but not actually paid under deferral schemes of the State Governments was considered in Board’s Circular No. 496, dated 25-9-1987 [Clarification 2], and it was decided that, where the State Governments make an amendment in the Sales-tax Act to the effect
Notification No.S.O.373 – Income Tax It is notified for general information that M/s. Pariwar Finance Company Limited, 104, Gajanan Market, Old Cotton Market, Akola, Maharashtra, have been approved by the Central Government as a Housing Finance Company for the purposes of section 36(1)(viii) of the Income-tax Act, 1961, for the assessment years 1992-93 to 1994-95
Notification No.S.O.372 – Income Tax It is notified for general information that M/s. Manoj Housing Finance Company Limited, 501, Blue Moon Apartments, Lith Road, Bandra, Bombay-400 050 have been approved by the Central Government as a Housing Finance Company for the purposes of section 36(1)(viii) of the Income-tax Act, 1961, for the assessment years 1993-94 to 1995-96
Notification No.S.O.1032(E) – Income Tax In exercise of the powers conferred by clause (a) of sub-section (1) of section 115AC of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies the Foreign Currency Convertible Bonds and Ordinary Shares (Through Depositary Receipt Mechanism) Scheme, 1993, for the purposes of the said clause in respect of the assessment year 1993-94 (previous year 1992-93)
