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Income Tax : Discover key changes in the Income Tax Bill 2025, including enhanced rebates, simplified trust provisions, and extended registrati...
Income Tax : Section 194T mandates 10% TDS on partner payments exceeding ₹20,000 annually, effective April 1, 2025. Learn its impact, complia...
Income Tax : Understand income tax rules for business & profession in India. Covers business, profession, vocation, occupation, and deduction g...
Income Tax : In the realm of taxation, income is classified into various categories, with one of the most significant being Income from Busines...
Income Tax : The Indian taxation framework, as delineated by the Income Tax Act of 1961, may initially seem daunting. Nevertheless, acquiring a...
Income Tax : Corporate tax collections increased post-rate cuts. No specific tax incentives for MNCs, but new measures aim to support electroni...
Income Tax : The Income Tax Bill 2025 aims to simplify tax laws with no major policy changes. It enhances clarity, reduces ambiguities, and ali...
Income Tax : The Finance Bill 2025 projects a 12.65% rise in income tax collections despite tax cuts, with estimated receipts of ₹25.20 lakh ...
Income Tax : The Finance Bill 2025 revises tax slabs, reducing the burden on middle-class taxpayers. The changes aim to boost savings and consu...
Income Tax : Corporate tax revenue distribution follows Finance Commission guidelines, with states receiving 41% of shareable taxes. Incentives...
Income Tax : Delhi High Court sets aside DRP's order in FIS Payment case, directing a fresh review under ITAT rulings on Section 56(2)(viib). K...
Income Tax : ITAT Delhi upholds CIT(A) ruling in Kissandhan Agri case, rejecting tax addition under Section 56(2)(viib). AO’s valuation metho...
Income Tax : ITAT Mumbai ruled in favor of Jamnagar Utilities, allowing CSR donations as deductions under Section 80G, rejecting the Revenue's ...
Income Tax : ITAT Pune ruled that Section 115BBE does not apply to business income declared in a survey. Read the case details and implications...
Income Tax : ITAT Kolkata partly allows Utpal Sarkar’s appeal against DCIT, addressing bogus sundry creditors and inter-unit transactions. Ca...
Income Tax : Finance Ministry specifies Power Finance Corporation Ltd.'s ten-year zero coupon bond with Rs. 49,546 discount, for Income-tax Act...
Income Tax : Learn about high-risk transaction case verification, assessment, and proceedings under Sections 148/148A on the Insight and ITBA p...
Income Tax : Learn about high-risk CRIU/VRU case verification, assessment, and proceedings under Sections 148/148A on the Insight and ITBA port...
Income Tax : Learn about suspected benami, undisclosed foreign assets, and TDS compliance cases assigned under Risk Management Strategy via the...
Income Tax : The IT Dept. has flagged high-risk non-filers for AY 2019-22 on the Insight Portal under RMS Cycle 5. Assessing Officers can revie...
In exercise of the powers conferred by sub-clause (v) of clause (23C) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies “Srirangam Srimad Andavan Periasramam, Srirangam” for the purpose of the said section for the assessment years 1985-86 to 1987-88.
In exercise of the powers conferred by sub-clause (v) of clause (23C) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies “Sechasanvasi Sri Akashar Purushottam Sanstha Trust” for the purpose of the said section for the assessment years 1987-88 to 1989-90.
In continuation of this Office Notification No. 6282 (F. No. 203/230/84-ITA.II) dated 21-6-1985, it is hereby notified for general information that the Institution mentioned below has been approved by the Department of Scientific and Industrial Research, New Delhi, the prescribed authority for the purposes of clause (ii) of sub-section (1) of section 35 (Thirty-five/one/two) of the Income-tax Act, 1961.
In exercise of the powers conferred by sub-clause (v) of clause (23C) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies “Shree Jayarambhai Dayabhai Chauhan (Bytco) Charitable Trust” for the purpose of the said section for the assessment years 1985-86 to 1986-87.
In exercise of the powers conferred by sub-clause (v) of clause (23C) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies “R.C. Diocese of Palayamkottai” for the purpose of the said section for the assessment year 1983-84.
Circular : No. 463-Income Tax Section 80HHC, as substituted by the Finance Act, 1985, provides that an assessee, being an Indian company or a person (other than a company) who is resident in India, exports out of India during the previous year any goods or merchandise to which this section applies, will be allowed [deduction of an amount
Circular: No. 462-Income Tax I am directed to invite a reference to this Department’s Circular No. 426 [F. No. 275/32/85-IT(B)], dated 24-7-1985 wherein the rates at which the deduction of income-tax was to be made during the financial year 1985-86 from payments of income by way of insurance commission under section 194D were intimated.
This notification contains Amendment to Income-tax (Fourth Amendment) Rules, 1986 carried out on July 9, 1986 not reproduced here as it is already contained in the body of the Rules itself.
This notification contains Amendment to Income-tax (Fifth Amendment) Rules, 1986 carried out on 9th July, 1986 not reproduced here as it is already contained in the body of the Rules itself.
CIRCULAR NO. 461-Income Tax In respect of incomes of all categories of taxpayers (corporate as well as non-corporate) liable to tax for the assessment year 1986-87, the rates of income-tax (including surcharge thereon) have been specified in Part I of the First Schedule to the Finance Act. These rates are the same as those laid down in Part III of the First Schedule to the Finance Act, 1985, for the purposes of
