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Income Tax : Summary: Income additions by tax authorities due to discrepancies between a taxpayer’s declared income and the details in Fo...
Income Tax : FAQs on e-Verification Scheme, 2021 provide general guidance in understanding procedures & processes of the e-Verification Scheme,...
Income Tax : Understand the amended Section 230 of the Income Tax Act, 2024, clarifying when a tax clearance certificate is required for Indian...
Income Tax : Section 43B(h) mandates tax deductions only on actual payments to MSMEs, effective April 2024. Explore its potential impact on ind...
Income Tax : Discover the updated Income Tax assessment procedures for searches starting from September 2024, including tax rates, penalties, a...
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...
Income Tax : Understand PFA and defective return queries for ITR 1-6 for AY 24-25, including MAT applicability, TDS/TCS claims, and income disc...
Income Tax : Bombay High Court rules that CIT(A) cannot dismiss appeals for non-prosecution. Tribunal's decision to restore appeal upheld....
Income Tax : Bombay High Court upholds ITAT ruling in PCIT Vs SVD Resins, focusing on the legitimacy of purchase transactions and tax implicati...
Income Tax : The Bombay High Court dismisses criminal charges against Hubtown Ltd's directors for TDS payment delays, citing absence of require...
Income Tax : Supreme Court dismisses IT Dept's petition, ruling Vodafone Idea isn't liable to deduct TDS on payments to non-resident telecom op...
Income Tax : Allahabad High Court held Deputy Commissioner of Income Tax guilty under section 12 of the Contempt of Courts Act, 1971 and impose...
Income Tax : On August 16, 2024, President Droupadi Murmu officially granted her assent to the Finance (No 2) Bill, 2024. With this move, the b...
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...
Income Tax : West Bengal Transport Workers' Social Security Scheme receives tax exemption for specified income under Income-tax Act for AY 2021...
Circular No. 246-Income Tax The Board has been receiving numerous references from individual assessees and medical practitioners seeking clarification regarding the scope of deduction under section 80U.
Notification No. S.O.3414 That the Ganesh Scientific Research Foundation, 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 agriculture/animal husbandry/fisheries & 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 Sri Prathasarathy Perumal Temple, Parthappalli, for the purpose of the said section for and from the assessment year(s) 1977-78. [No. 2534 (F. No. 197/26/78–IT (AI)
Notification: S.O.3415 the following scientific research programme has been approved for the period specified below for the purposes of sub-section (2A) of section 35 of the Income-tax Act, 1961, read with rule 6(iv) of the Income-tax Rules, 1962, by the Secretary, Department of Science & Technology, New Delhi.
Circular No.245 – Income Tax The Amending Act has inserted a new section 13A in Chapter III which provides that the following categories of income derived by a political party will not be included in computing its total income
Notification No. S.O.3413 It is hereby notified for general information that the institution mentioned below has been approved by the Indian Council of Medical Research, the prescribed authority for the purposes of clause (ii) of sub-section (1) of section 35 of the Income-tax Act, 1961, read with rule 6(ii) of the Income-tax Rules, 1962, under the category of ” scientific research association ” in the field of medical research, subject to the following conditions
Notification No. S.O.3412 Name of the scientific research Yarn faults : Causes for occurrence and programme: their influence on weaving performance and fabric quality. Name of the sponsors : New Shorrock Mills Nadiad ; Ashoka Mills, Ahmedabad ; Khatau Mills Bombay ; Rajasthan Spg. & Wvg. Mills, Bhilwara ; Arunoday Mills, Morbi.
Notification No. S.O.3411 That the Parkhe Research Institute, Poona, will maintain a separate account of the sums received by it for scientific research in the field of natural or applied sciences (other than agriculture/animal husbandry/fisheries & medicines)
Notification No. S.O.3081 In exercise of the powers conferred by sub-section (23A) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies the profession of ” Materials Management ” for the purpose of the said section.
Notification No. S.O.3148 That the institution will maintain a separate account of the sums received by it for scientific research in the field of medical research. That the institution will maintain a separate account of the sums received by it for scientific research in the field of medical research. (ii) That the institution will furnish the annual return of its scientific research activities to the Council for each financial year by 31st May each year at the latest in such form as may be laid down and intimated to them for this purposes
