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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 : India and Mauritius have amended the DTAA, adding a principal purpose test (PPT) rule to close tax loopholes and align with global...
Income Tax : Understand the tax implications of Raksha Bandhan gifts. Learn about exemptions for gifts from relatives and the tax rules for gif...
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 : Allahabad High Court held Deputy Commissioner of Income Tax guilty under section 12 of the Contempt of Courts Act, 1971 and impose...
Income Tax : Calcutta HC remands Somnath Commosales Pvt Ltd case to AO for fresh assessment. The final opportunity is granted; non-cooperation ...
Income Tax : Calcutta HC dismisses appeal by revenue, upholds ITAT decision quashing PCIT order under Section 263 on MAT credit and doubtful de...
Income Tax : Calcutta High Court affirms ITAT's decision to delete income tax addition under Section 69 due to lack of direct evidence against ...
Income Tax : ITAT Mumbai dismisses income tax additions for AY 2014-15, stating reliance on a generalized report without independent inquiry is...
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...
It is hereby notified for general information that 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, by the Director, Department of Science & Technology, New Delhi.
It is hereby notified for general information that the institution mentioned below has been approved by the Indian Council of Social Science Research, the prescribed authori
Central Government hereby notifies Shri Manikeswar Mahadev Mandir, New Road, Cochin-2 to be a place of public worship of renown throughout the State of Kerala for the purposes of the said section.
In exercise of the powers conferred by clause (iv) of sub-section (23C) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies ” Haryana State Council of Child Welfare, Chandigarh “, for the purpose of the said section for and from the assessment year 1972-73.
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 ” Shiromani Gurudwara Prabandhak Committee, Amritsar ” for the purpose of the said section from the assessment year 1971-72 to the assessment year 1975-76.
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 ” Council for Promotion of Communal Harmony ” for the purpose of the said section for and from the assessment year(s) 1975-76.
In exercise of the powers conferred by clause (iv) of sub-section (23C) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies Loreto House Educational Society of Calcutta for the purpose of the said section for and from the assessment year(s) 1976-77.
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 ” Shree Kavle Math Samsthan (Shree Gowdapadacharya Samsthan), Bombay ” for the purpose of the said section for and from the assessment year 1975-76.
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 ” Evangelical Lutheran Church in Madhya Pradesh ” for the purpose of the said section for and from the assessment year(s) 1974-75.
The provisions of Sections 144-A and 144-B of the Income-tax Act have come into force with effect from 1st January 1976. Instructions explaining the legal provisions contained in these sections have been issued already in Board’s Instruction No.907, dated the 24th December 1975. The following further instructions are issued prescribing the work-procedures, the non-statutory forms of the letters to be issued and the registers to be maintained, and the proformae of the periodical statements to be furnished to the Board.
