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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. 709(E)-Income Tax In exercise of the powers conferred by clause (v) of the Explanation to section 48 of the Income-tax Act, 1961 (43 of 1961), the Central Government having regard to seventy-five per cent. of the average rise in the Consumer Price Index for urban non-manual employees, hereby specifies the Cost Inflation Index as mentioned in column (3) of the Table below for the Financial Year
Notification No. S. O. 710(E)-Income Tax In exercise of the powers conferred by the second proviso to sub-section (1) of section 139 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies following classes of persons to whom the provisions of the first proviso shall not apply
Notification No. S. O. 711(E)-Income Tax In exercise of the powers conferred under Explanation 4 to sub-section (1) of section 139 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby specifies the following places as the place of pilgrimage for the purposes of the aforesaid sub-section and travel to such places shall not be regarded as travel to any foreign country for the purposes of sub-section (1) of section 139
Notification No. S. O. 712(E)-Income Tax In exercise of the powers conferred under Explanation 4 to sub-section (1) of section 139 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby specifies that the expression “travel to any foreign country” used in this sub-section shall not include travel to following neighbouring countries
Notification No. S. O. 668(E)-Income Tax In exercise of the powers conferred by the proviso to sub-section (1) of section 139 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby specifies in the table below, the following floor areas for the purposes of clause (i) of the said proviso
Notification No. S. O. 669(E)-Income Urban agglomeration of Surat including the areas comprised in the City of Surat constituted under section 3 of the Bombay Provincial Municipal Corporation Act, 1949 (Bombay Act No. LIX of 1949), as applicable to the State of Gujarat and areas declared by the State Government of Gujarat under section 22 of the Gujarat Town Planning and Urban Development Act, 1976
Circular No. 769-Income Tax The Board has received a number of representations for granting approval for refund of excess deduction or erroneous deduction of tax at source under section 195 of the Income-tax Act. The cases referred to the Board mainly relate to circumstances where
Notification No. 10653/1998-Income Tax These rules may be called the Income-tax(Ninth Amendment) Rules,1998. (2) They shall come into force from the 1st day of April,1999. 2.In the Income-tax Rules,1962,- (a) In rule 9A,- (i) in sub-rule(2),for words”one hundred and eighty days”,the words “ninety days” shall be substituted. (ii) in sub-rule(3),for the words “one hundred and eighty days”
Notification No. 10654/1998-Income Tax In exercise of the powers conferred by section 295 of the Income-tax Act,1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-Tax rules,1962,namely
Notification No. S. O. 621(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 seven years 9.5 per cent. NHB—Golden Jubilee Rural Housing Finance tax Free Priority Sector bonds (1997-98) of Rs. 100,000 each for an amount of Rs. 200 crores
