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Income Tax : Overview of Finance Act 2025 changes: capital assets, fund manager relocation, search case assessments, and more. ...
Income Tax : Learn about Section 194-IB of Income Tax Act, requiring individuals paying monthly rent exceeding ₹50,000 to deduct TDS at 2%. U...
Income Tax : DPIIT's Startup Recognition Program offers benefits like tax exemptions (80IAC), funding access, IP protection, and compliance eas...
Income Tax : Analysis of Form 3CD amendments effective April 1, 2025. Understand the impact on tax audits, MSME reporting, and cross-border com...
Income Tax : Understand TDS on rent for individuals: thresholds, rates, and compliance procedures as per Section 194-IB....
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 : Bombay High Court quashes income tax notices to Srimani Basu due to improper service from address discrepancy, grants fresh hearin...
Income Tax : ITAT Ahmedabad overturns 12A and 80G renewal rejections, citing lack of examination by CIT(E) and violation of natural justice....
Income Tax : The assessee is a limited company engaged in the business of Unit manufacturing homogenized and pasteurized milk and manufacturing...
Income Tax : Regarding disallowance under section 10AA, Tribunal found that services provided by appellant to foreign customers from the SEZ di...
Income Tax : The entire procedure subsequent to obtaining further information, documents or evidence has not been gone through in case of the P...
Income Tax : Finance Ministry exempts 80CCA withdrawals from TDS under Section 194EE. Individuals withdrawing after notification date are affec...
Income Tax : Changes in TDS deductions under Finance Act 2025 include revised thresholds for Sections 194A, 194H, and 80CCA. Effective from Apr...
Income Tax : CBDT mandates Aadhaar intimation for PAN holders who applied before October 1, 2024. Deadline set for December 31, 2025. Know co...
Income Tax : CBDT mandates Aadhaar intimation for PAN holders who applied before October 1, 2024. Know the latest Income Tax Rule amendments ef...
Income Tax : On 29 March 2025, the President of India granted assent to the Finance Act 2025, marking a significant milestone in the country’...
Circular No. 691-Income tax NoCircular . 341, dated 10-5-1982 (Annex) had been issued in the, wake of the Supreme Court’s judgment in the case of Cloth Traders (P.) Ltd [1979] 118 ITR 243/1 Taxman 335. This decision was subsequently overruled by the Supreme Court in the case ofDistributors (Baroda) (P.) Ltd v. Union of India [1985] 155 ITR 120/22 Taxman 49 which therefore gives the correct legal position
Circular No. 690-Income tax Reference is invited to Board’s Circular No. 654, dated the 22nd July, 1993, wherein the rates of deduction of income-tax from the payment of income under the head ‘Salaries’ under section 192 of the Income-tax Act, 1961, during the financial year 1993-94, were intimated. The present circular contains the rates of deduction of income-tax from the payment of income
Notification No. S.O.2449-Income Tax In exercise of the powers conferred by clause (viii) of sub-section (1) of section 36 on Income-tax Act, 1961, the Central Government hereby approves Indian Renewable Energy Development Agency Limited, 3, Ring Road (FF), Kilokari, Opposite Maharani Bagh, New Delhi-110 014, as a company for the purpose of the said clause for the assessment years 1995-96 to 1997-98.
Notification No. S.O.2450-Income Tax In exercise of the powers conferred by clause (viii) of sub-section (1) of section 36 on Income-tax Act, 1961, the Central Government hereby approves M/s. Delhi Financial Corporation, Saraswati Bhavan, E-Block, Cannaught Place, New Delhi, as a company for the purpose of the said clause for the assessment years 1989-90 to 1995-96.
Notification No. S.O.634(E)-Income Tax In exercise of the powers conferred by sub-clause (xiiic) of clause (2) of section 88 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies the Retirement Benefit Unit Scheme set up by the Unit Trust of India as a pension fund for the purposes of the said sub-clause.
Notification No. S.O.635(E)-Income Tax In exercise of the powers conferred by clause (ii) of sub-section (1) of section 80L of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies the 7 years-16.5 % (taxable) Secured Redeemable (Xth Series Issue) Bonds bearing serial Numbers J00000001 to J01875000 of rupees one thousand each of the aggregating value of rupees one hundred eighty-seven crores
Circular No. 689-Income tax owSection 143(1)(a) authorises, with effect from assessment year 1989-90, inter alia, disallowance of any loss carried forward, deduction, allowance or relief claimed which, on the basis of information available in the return or the accompanying accounts or documents, isprima facie inadmissible
Circular No. 688-Income tax A doubt has been raised whether graduate or post-graduate courses in architecture would be covered as a branch of engineering for the purpose of the tax concession under section 80E of the Income-tax Act.
Circular No. 687-Income tax Kisan Vikas Patras were introduced on 1st April, 1988. The Department of Economic Affairs, Ministry of Finance, in its notifications dated 23-3-1988, 16-12-1991, 24-4-1992 and 2-9-1993 had specified the amount payable on these after 2½ years and up to the date of maturity. However, interest and maturity amount during 2½ years had not been provided in these notifications
Notification No. S.O.600(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 mentioned in the corresponding entry in column (2) of the said Table.
