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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 : Learn the importance of show-cause notices, their legal implications, and how to respond effectively to protect your rights. Explo...
Income Tax : Delhi HC quashes reopening of tax assessment, ruling that technical delay in e-filing Form 10 before assessment completion is unju...
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 : ITAT Mumbai grants relief to Tarun Mohan Jani, ruling that property valuation difference within 10% tolerance limit doesn't warran...
Income Tax : Delhi High Court quashes reassessment notices for AYs 2013-14 and 2014-15, citing procedural lapses and lack of valid grounds unde...
Income Tax : ITAT Ahmedabad held that the AO must record a proper satisfaction regarding the incorrectness of the assessee’s claim before inv...
Income Tax : ITAT Ahmedabad held that passing of ex-parte order by CIT(A) without adjudicating issues on merits, such order is not sustainable ...
Income Tax : ITAT Kolkata held that additions u/s. 153A of the Income Tax Act could only be made on the basis of seized material found during t...
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...
Income Tax : CBDT notifies Karnataka State Natural Disaster Monitoring Centre for tax exemptions on specific incomes. Effective for AY 2021-22 ...
Notification: S.O.2894 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) o
Notification: S.O.4054 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 Ranganatha Paduka Ashram
Notification: S.O.4052 It is hereby notified for general information that the approval given under section 35(1)(ii) of the Income-tax Act, 1961, to Sri Ganga Ram Trust Society, New Delhi, by notification No. 563 (F. No. 203/10/74-ITA.II) dated the 19th February, 1974, with effect from 1st April, 1973, is withdrawn with effect from 1st April, 1973, on the recommenda
Notification: S.O.2648 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 authority for the purpose
We have to ascertain whether there was any evidence or material before the Tribunal to estimate the profits. It is not disputed that the books of account of the assessee were not accepted. That being so, profit had to be estimated. Such estimate was made by the authorities on the basis of the performance of the predecessor-in-interest of the assessee
Notification: S.O.2893 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 authority for the purposes of clause (iii) of sub-section (1) of section 35 of Income-tax Act, 1961. The institution shall send to the Indian Council of Social Science Research an annual r
Circular: No. 171-Income Tax In exercise of the powers available under section 49A of the 1922 Act, the Government of India had issued a Notification dated 24-3-1953 called the Income-tax (Double Taxation Relief) (Aden) Rules, 1953 providing for grant of relief in respect of income on which tax has been paid both in India and in Aden.
Circular: No. 172-Income Tax The position in respect of Ghana (formerly Gold Coast), Nigeria and Mauritius has since been ascertained. The Governments of these three countries have stated that after the date of attainment of independence by them, they do not consider that any agreement on the question of avoidance of double taxation of income subsists between them and the Government of India.
Notification: S.O.295(E) In exercise of the powers conferred by section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely :— This notification contains Amendment to Income-t
Circular : No. 170-Income Tax Reference is invited to Notification No. SO 2167, dated 28-5-1971 [printed above], of the Government of India, Ministry of Finance (Department of Revenue & Insurance), under which the deduction in respect of development rebate under section 33 was not to be allowed in respect of a ship acquired or machinery or plant installed after May 31, 1974.