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Income Tax : The Finance (No 2) Act 2024 has been notified on 16th August 2024. The Finance Act sections 1 to 99 (Page 1 to 54) amends Income T...
Income Tax : The provisions of Income Tax Act, provide for mechanism of filling of appeals against orders passed under the proceedings of the A...
Income Tax : DTAA prevents double taxation on international income, promoting global trade. Learn how it benefits taxpayers, methods of elimina...
Income Tax : Understand the legal framework and tax implications of political donations in India, including key sections like 80GGB, 80GGC, and...
Income Tax : Explore the Income Tax Calculator for the Financial Year 2024-25, offering insights on tax planning, deductions, and regime sugges...
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 : 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 : 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 : Join our live course from Aug 23-25, 2024, to master tax audits, including Form 3CD, financial statements, and GST, with practical...
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 : n Legal Initiative For Forest And Environment (LIFE Trust) Vs PCIT (ITAT Delhi), the stay application was denied as the test for i...
Income Tax : ITAT Ahmedabad held that merely making a claim that is not sustainable does not amount to furnishing inaccurate particulars of inc...
Income Tax : Bombay High Court held that amount paid towards community services and social welfare under Memorandum of Settlement under the Ind...
Income Tax : ITAT Chennai held that construction of new dwelling unit on first floor is eligible for deduction under section 54F of the Income ...
Income Tax : ITAT Mumbai grants relief to Tarun Mohan Jani, ruling that property valuation difference within 10% tolerance limit doesn't warran...
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.3684 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 Sarada Math, Calc
Circular : No. 205 -Income Tax Section 44AA casts a legal obligation for maintenance of books of account by persons specified therein. This section has come into force with effect from April 1, 1976. The Board have examined the question as to the date from which provisions of section 44AA are applicable. The requirement contained in sub-sections (1) and (2) of section 44AA
Notification: S.O.4566It is hereby notified for general information that the approval given under section 35(1)(ii) of the Income-tax Act, 1961, to Invention Promotion Board, New Delhi, by notification No. 5 (F. No. 203/34/71-ITA. II), dated 1st January, 1972, is withdrawn with effect from 1st April, 1973, on the recommendation of the prescribed authority, Secret
Notification: S.O.3116 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 the ‘Bharat Se
Circular No. 204-Income Tax The Amending Act has introduced a new sub-clause (via) in clause (6) of section 10 with a view to exempting from income-tax remuneration received by individuals other than Indian citizens, from foreign philanthropic institutions, associations or bodies in certain circumstances. The exemption from income-tax will be available if the following
Notification: S.O.3472In 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 ‘The Karnataka Inter Diocesan Administrative Finance and Property Board, the Church of South’, for the purpose of the said section for and from assessment year(s) 1975-76
Notification: S.O.3110 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 Lakshminarasimha Swamy Temple at Devarayana Durga, Tumkur District (Karnataka), to be a place of public worship of renown throughout the State of Karnataka for the purpo
Notification: S.O.3109 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 Patala Nageswara Swamy Devalaya Punaruddhana Sangham, Giddalur, to be a place of public worship of renown throughout the State of Andhra Pradesh for the purposes of the said section
Notification: S.O.3115 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 the ‘Prime Mi
Circular : No. 203 -Income Tax Reference is invited to Board’s Circular No. 200, dated 28-6-1976 [Clarification 2] by which it was clarified that no distinction need be drawn between expenditure on advertisements in souvenirs and other types of advertisement.
