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Income Tax : Budget 2025 updates tax slabs under section 115BAC, offering zero tax up to ₹12 lakh income with rebate and marginal relief. Old...
Income Tax : The CBDT has introduced a new mechanism through Circulars 5/2025 and 8/2025 to waive interest on delayed TDS/TCS payments caused b...
Income Tax : Learn about the taxation of Systematic Withdrawal Plans (SWP), Income Distribution cum Capital Withdrawal (IDCW), and Growth Funds...
Income Tax : Avoid rejection of 12AB / 80G applications. Understand relevant sub-clauses, registration types, and recent amendments for Income ...
Income Tax : Learn about active income tax refund scams, how to identify fake emails, and essential steps to protect your financial information...
Income Tax : Suggestions to simplify 12AB and 80G renewal for charitable trusts, proposing conditional approvals, straight-through processing f...
Income Tax : Income-Tax Bill 2025: The Select Committee debated expanding the "accountant" definition. The Ministry of Finance upholds the Char...
Income Tax : India's New Income-Tax Bill 2025: Introduced to simplify the nation's direct tax laws, this bill aims to reduce complexity, enhanc...
Income Tax : India's Finance Ministry details VDA/cryptocurrency tax revenue, compliance tools, and official training, addressing tax evasion c...
Income Tax : Three Income Tax Department officials, including an Assistant Director, were arrested by the CBI in Patna for accepting a Rs. 2 la...
Income Tax : Supreme Court held that Hyatt International has a fixed place Permanent Establishment in India within the meaning of Article 5(1) ...
Income Tax : ITAT Chandigarh held that surplus funds of a charitable institution are being held in a fiduciary capacity hence can never be used...
Income Tax : ITAT Delhi held that imposition of penalty u/s. 270A(9)(a) of the Income Tax Act without mentioning the specific instance of misre...
Income Tax : ITAT Ahmedabad holds NFAC wrongfully dismissed appeal on delay; remands case involving ₹213 Cr additions on grants and accrued i...
Income Tax : ITAT Delhi held that taxability of service receipt amounts in terms of India- Thailand DTAA needs fresh consideration since releva...
Income Tax : CBDT approves IQRAA International Hospital And Research Centre for scientific research exemption from AY 2026-27 to AY 2030-31 vid...
Income Tax : CBDT approves Gitarthganga, Ahmedabad for tax deduction under Section 35 for Social Science research, applicable from AY 2026–27...
Income Tax : The Central Government grants income tax exemption to Puducherry Building and Other Construction Workers Welfare Board for specifi...
Income Tax : Andhra Pradesh Building and Other Construction Workers Welfare Board is exempt from income tax on specific income, including cess ...
Income Tax : The Indian government has granted income tax exemption to the Moradabad Development Authority from Assessment Year 2024-25, under ...
Notification No.8 – Income Tax In exercise of the powers conferred by the clause (22B) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies the “The Press Trust of India Limited, New Delhi” as a news agency set up in India solely for collection and distribution of news for the purposes of the said clause for the assessment years
The only dispute in the present appeals is as to whether the assessee is entitled to deduction under section 80P(2)(a)( i) of the Income-tax Act, 1961, in respect of the income from the investment of rupees two crores in the purchase of 13.5 per cent. PSEB Bonds, 2003 First Series on September 20, 1993.
Circular No. 13 of 2002-Income Tax Reference is invited to Circular No. 15/2001, dated 12-12-2001 wherein the rates of deduction of income-tax from the payment of income under the head “Salaries” under section 192 of the Income-tax Act, 1961, during the financial year 2001-2002, were intimated.
Notification No. 384-Income Tax In exercise of the powers conferred by clause (ii) of subsection (1) of section 80L of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies the bonds in the nature of debentures, detailed below, issued by the “Industrial Credit and Investment Corporation of India limited, Mumbai,” in its public issue of Safety Bonds-February
Notification No. 382-Income Tax In exercise of the powers conferred by clause (ii) of sub-section (1) of section 80L of the Income-tax Act, 1961 (43 of 1961) the Central Government hereby specifies the bonds in the nature of debentures, detailed below, issued by the “Industrial Credit and Investment Corporation of India Limited, Mumbai,” in its public issue of Safety Bonds-October, 2000, for the purpose of the said clause
Notification No. 381-Income Tax In exercise of the powers conferred by clause (ii) of sub-section (1) of section 80L of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies the bonds in the nature of debentures, detailed below, issued by the “Industrial Credit and Investment Corporation of India Limited, Mumbai” in its public issue of Safety Bonds-August, 2000, for the purpose of the said clause
Notification No. 385-Income Tax In exercise of the powers conferred by clause (ii) of sub-section (1) of section 80L- of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies the bonds in the nature of debentures, detailed below, issued by the “Industrial Credit and Investment Corporation of India Limited, Mumbai,” in its public issue of Safety Bonds-March, 2001, for the purpose of the said clause
Notification No. 380-Income Tax In exercise of the powers conferred by clause (ii) of sub-section (1) of section 80L of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies the bonds in the nature of debentures, detailed below, issued by the “Industrial Credit and Investment Corporation of India Limited, Mumbai,” in its public issue of Safety Bonds-July
Notification No. 383-Income Tax In exercise of the powers conferred by clause (ii) of sub-section (1) of section 80L of the Income,-tax Act, 1961 (43 of 1961), the Central Government hereby specifies the bonds in the nature of debentures, detailed below, issued by the “Industrial Credit and Investment Corporation of India Limited, Munibai,” in its public issue of Safety Bonds-November, 2000, for the purpose of the said clause
Notification No. 379-Income Tax In exercise of the powers conferred by item (h) of sub-clause (iv) of clause (15) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies “9.50% Tax Free Bonds” bearing distinctive numbers from 1 to 24000, of rupees one lakh each, issued by National Textile Corporation Limited and carrying an interest of 9.50 per cent per annum, for a period of 5 years, for a total amount of rupees 240 crores
