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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...
1. By this petition filed under Article 226 of the Constitution of India, the petitioners are challenging the legality of the order dated June 1, 1985 passed by respondent No. 1. The petitioner No. 1 is a company carrying on business of manufacturing polyester filament yarn of the type known as Partially Oriented Yarn (“POY”)
Notification No. S.O.1457-Income Tax In continuation of this office notification No. 5742 (F. No. 203/13/84-ITA. II) dated 4-4-84, it is hereby notified for general information that the institution mentioned below has been approved by the Department of Science & Technology, 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,
Notification No S.O.2231-Income Tax In exercise of the powers conferred by sub-clause (iv) of clause (23C) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies “Vivekananda Rock Memorial and Vivekananda Kendra, Madras” for the purpose of the said section for the period covered by the assessment years 1986-87 to 1988-89.
Notification No. S.O.1356-Income Tax 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 ” Thiruvavaduthurai Adheenam, Thanjavur Distt. ” for the purpose of the said section for the period covered by the assessment years 1985-86 to 1987-88.
Notification No. S.O.1456-Income Tax It is hereby notified for general information that the approval granted under section 35(1)(ii) of the Income-tax Act, 1961, to the Nowresjee Wadia Maternity Hospital, Bombay, vide Ministry of Finance (Department of Revenue and Insurance), notification No. 351 (F. No. 203/18/73-ITA. II), dated 16th May, 1983, is hereby restricted up to 31-3-1986.
Notification No. S.O.1455-Icome Tax It is hereby notified for general information that the perpetual approval granted under section 35(1)(ii) of the Income-tax Act, 1961, to the Vijnana Parishad, Allahabad, vide Ministry of Finance (Department of Revenue and Insurance), notification No. 238 (F. No. 203/25/72-ITA. II), dated 11-12-1972, is hereby restricted up to 31-3-1987.
Notification No. S.O.1454-Income Tax It is hereby notified for general information that the approval granted to the Salgaocar Medical Research Centre, Chikalim, Goa, under section 35(1)(ii) of the Income-tax Act, 1961, vide Ministry of Finance (Department of Revenue and Insurance), notification No. 1138 (F. No. 203/136/75-ITA. II), dated 27th October, 1975, is hereby restricted up to 31-3-1986.
Circular : No. 451-Income Tax Further clarifications on Circular Nos. 423, 432, 439 to 441 regarding declaration of higher income or wealth – Following clarifications are hereby issued on the questions raised at different places on the press note of the CBDT and the Circular No. 423, dated 26-6-1985 and Circular Nos. 432, 439, 440 and 441, dated 15-11-1985 [Clarifications 1 to 5] issued by CBDT regarding declaration of higher income or wealth.
Notification No. F.71-Ad(AT)/86-Income Tax In exercise of the powers conferred by sub-section (5) of section 255 of the Income-tax Act, 1961 (43 of 1961), the Income-tax Appellate Tribunal hereby makes the following rules further to amend the Income-tax (Appellate Tribunal) Rules, 1963 :– This notification contains amendments to Income-tax Rules carried out on 17th February, 1986 not reproduced here as it is already contained in the body of the rules itself
Notification No. S.O.1453-Income Tax In continuation of this Office Notification No. 5432 (F. No. 203/183/82-ITA. II) dated 22-10-1983, it is hereby notified for general information that the Institution mentioned below has been approved by the Department of Science & Technology, New Delhi, the prescribed authority for the purposes of clause (iii) of sub-section (1) of section 35 (Thirty-five/one/three) of the Income-tax Act,
