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Income Tax : FAQs on e-Verification Scheme, 2021 provide general guidance in understanding procedures & processes of the e-Verification Scheme,...
Income Tax : Recently, the Finance Minister of India, Smt. Nirmala Sitharaman, presented the Finance Budget 2024-2025 on 23rd July 2024. Vide t...
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 : आयकर विभाग ने कैश लेन-देन पर कड़ी नजर रखने का निर्�...
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 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 : Bombay HC examines the rejection of Purandhar Technical Education Society's 12AB registration by CIT, highlighting procedural erro...
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...
Notification: S.O.2668 Central Government hereby notifies Incorporated and Unincorporated Dewaswoms, Suchindram for the purpose of the said section for and from the assessment year(s) 1973-74.
Notification: S.O.1986 Central Government hereby notifies The Salesian Province of Calcutta (Northern India) for the purpose of the said section for and from the assessment year 1976-77.
Notification: S.O.1985 Central Government hereby notifies Bhagini Samaj, Bombay, for the purpose of the said section for and from the assessment year 1976-77.
Notification: S.O.1984 Central Government hereby notifies The Bengal Masonic Association Inter Services Charitable Trust, New Delhi, for the purpose of the said section for and from the assessment year 1977-78.
Notification: S.O.1983 Central Government hereby notifies Sri Ram Vittal Trust, Udipi, for the purpose of the said section for and from the assessment year 1977-78.
Circular : No. 243-Income Tax Several banks are accepting deposits under the reinvestment deposit schemes, recurring deposit schemes, cash certificates and similar schemes. These schemes have been evolved to provide the public with an attractive medium of investment and simultaneously mobilise savings.
Notification: S.O.2400 In exercise of the powers conferred by sub-section (2)(b) of section 80G of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies Sri Audikesava Perumal Sri Bashya-Karaswami Temple, Sriperumbudur to be a place of public worship of renown throughout the State of Tamil Nadu for the purposes of the said section. [No. 2349 (F. No. 176/50/78–ITA–I)
Notification: S.O.2469 In exercise of the powers confered by sub-section (2)(b) of section 80G of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies Sree Vellat Puthur Kshethra Samrakshana Samithi, Perintamanna to be a place of public worship of renown throughout the State of Kerala for the purposes of the said section.
Notification: S.O.2468 Central Government hereby notifies Arulmigu Sakthi Vinayagar Temple, Chingleput for the purpose of the said section for and from the assessment year(s) 1976-77.
Circular No. 242-Income Tax I am directed to invite a reference to this Ministry’s Circular No. 225 [F. No. 275/13/77-IT(B)], dated 30-6-1977. The Finance Act, 1978, inter alia, prescribes the rates at which income-tax is to be deducted during the financial year 1978-79 from income chargeable under the head “Salaries”.
