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Income Tax : Understand advance tax rules, due dates, and penalties for non-compliance. Learn how to avoid interest charges under sections 234B...
Income Tax : Receiving an income tax notice can be disconcerting, particularly for individuals who are not well-versed with tax laws and compli...
Income Tax : Discover key highlights of India's Income Tax Bill 2025, effective April 2026, featuring simplified tax structures, revised slabs,...
Income Tax : Supreme Court clarifies the applicability of TOLA to reassessment notices under the Income Tax Act, addressing the interplay with ...
Income Tax : Penny stocks, often associated with small, illiquid companies, have been a subject of concern due to their susceptibility to price...
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 : ITGOA urges CBDT to address workload imbalances in JAO charges. Proposes systematic reorganization to ensure equitable distributio...
Income Tax : IT officials can access digital records during searches under IT Act, 1961, but personal emails and social media access is not all...
Income Tax : The updated return facility encourages voluntary tax compliance, allowing taxpayers to correct income omissions. Proposal to exten...
Income Tax : ITAT Pune remands Dnyanagan Education Society's case for fresh consideration after the rejection of its Section 12AB registration ...
Income Tax : ITAT Ahmedabad held that fresh assessment is necessary in case of taxability of interest earned from Fixed Deposit from compensati...
Income Tax : Delhi High Court held that Section 260A of the Income Tax Act refrains from incorporating a specific provision permitting the fili...
Income Tax : In the present case, recovery or repayment of fraudulent income does not qualify as an allowable expense. Allowing deductions for ...
Income Tax : ITAT Ahmedabad held that as per the provisions of Section 167B of the Income Tax Act, Maximum Marginal Rate (MMR) is applicable on...
Income Tax : CBDT notifies the Income-tax (Seventh Amendment) Rules, 2025, updating Forms 26Q and 27Q to include Section 194T on payments to fi...
Income Tax : Income Tax offices across India will remain open on March 29-31, 2025, for pending work, as per CBDT order under Section 119 of th...
Income Tax : CBDT notifies Income Tax (Sixth Amendment) Rules, 2025, introducing safe harbour rules for assessment year 2025-26. Full details o...
Income Tax : Guidelines for Assessing Officers on handling high-risk e-Verification cases under the e-Verification Scheme 2021, including steps...
Income Tax : CBDT allows data sharing with Delhi's IT Dept. for social welfare scheme identification under Income Tax Act Section 138. Read the...
Circular : No. 503-Income Tax Attention is invited to the Board’s Order under section 119(2)(b) [F. No. 225/201/87-IT(A-II)], dated 5-2-1988 whereby the Board, in exercise of the powers conferred by clause (b) of sub-section (2) of section 119, have raised the monetary limit of cases in which the ITO is authorised to admit belated refund claims under section 237.
Notification No. S.O.1100-Income Tax In exercise of the powers conferred by clause (iib) of the proviso to section 193 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies ” 13% Secured Redeemable Bonds (Series 1) ” issued by the Nuclear Power Corporation of India Ltd., Bombay, for the purpose of the said clause
Notification No. S.O.1319-Income Tax In exercise of the powers conferred by clause (ix) of section 47 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies ” Indira Gandhi National Centre for Arts ” for the purpose of the said clause for the assessment years 1987-88 to 1990-91.
Notification No. S.O.1855-Income Tax In partial modification of this Office Notification No. 6678 (F. No. 203/217/85-ITA. II), dated 18-4-1986 This Notification Contains Amendment of Income-tax Act, 1961 carried out on 1st February, 1988 not reproduced here as it is already contained in the body of the Act itself
Circular : No. 502-Income Tax References have been received from certain quarters about the applicability of the provisions of section 194C to the payments made in respect of the works executed under the National Rural Employment Programme (NREP) and Rural Landless Employment Guarantee Programme (RLEGP).
Notification No. S.O.126(E)-Income Tax In exercise of the powers conferred by sub-section (1) and (2) of section 269UB of Income-tax Act, 1961 (43 of 1961), the Central Government hereby makes the following further amendments in the Notification of the Government of India in the Ministry of Finance, Department of Revenue, No. S.O. 684(E), dated 24th September, 1986
This notification contains Amendment to Income-tax (Amendment) Rules, 1988 carried out on 21st January, 1988 not reproduced here as it is already contained in the body of the Rules itself.
Circular : No. 501-Income Tax I am directed to invite a reference to this Ministry’s Circular No. 489 [F.No. 275/51/87-IT(B)], dated 25-6-1987, wherein the rates of income-tax deduction during the year 1987-88 from the payment of income chargeable under the head “Salaries” under section 192 were intimated.
In exercise of the powers conferred by clause (iib) of the proviso to section 193 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies the 3 year HUDCO Capital Gains Debentures issued by the Housing and Urban Development Corporation Ltd., New Delhi, for the purpose of the said clause.
Notification No. S.O.669-Income Tax In exercise of the powers conferred by clause (iib) of the proviso to section 193 of the Income-tax Act, 1961(43 of 1961), the Central Government hereby specifies the “1987-88 IPCL–13 per cent. Secured Redeemable Non-Convertible Bonds” issued by the Indian Petrochemicals Corporation Limited, Vadodara, Gujarat, for the purposes of the said clause
