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Income Tax : Learn about TDS on payments to non-residents, including business connection rules, royalty provisions, and significant economic pr...
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 : India's direct tax collections for FY 2024-25 show a 13.13% net growth, with gross collections up by 16.15% and significant gains ...
Income Tax : CBDT issues clarification on Circular 01/2025, stating it applies only to the Principal Purpose Test in certain DTAAs and does not...
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 Assessee is aggrieved by the information received pursuant to application under Right to Information Act, 2015, whereby the As...
Income Tax : ITAT Mumbai held that exercising revisionary jurisdiction under section 263 of the Income Tax Act by PCIT on the basis of factual ...
Income Tax : ITAT Ahmedabad held that assessment order passed u/s. 143(3) is neither erroneous nor prejudicial to the interest of revenue. Henc...
Income Tax : During pendency of the assessment proceedings, respondent No.1 filed application u/s. 245C(1) before the Income Tax Settlement Com...
Income Tax : Bombay High Court held that exercising extraordinary jurisdiction under Article 226 of the Constitution of India not justified as ...
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...
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,
Circular No. 450-Income Tax I am directed to invite a reference to para 3 of this Ministry’s letter of even number, dated 25-4-1963. It has been stated therein that for the present till the month of August 1963, the pay for which is due on September 1, 1963, the deduction of additional surcharge from salaries should be allowed to the extent of a sum equal to the maximum amount
Notification No. S.O.2230-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 “Medical Research Foundation, Madras” for the purpose of the said section for the period covered by the assessment years 1984-85 to 1986-87.
Notification No. S.O.1125-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 ” Shri Durganna Committee, Amritsar ” for the purpose of the said section for the period covered by the assessment years 1985-86 to 1987-88.
Notification No. S.O.952-Income Tax In continuation of this Office Notification No. 4692 (F. No. 203/81/ITA. II) dated June 16, 1982, it is hereby notified for general information that the institution mentioned below has been approved by the Department of Science and 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,
Notification No. S.O.2229-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 “Hamdard Dawakhana (Wakf)” for the purpose of the said section for the period covered by the assessment years 1984-85 to 1987-88.
Notification No. S.O.951-Income Tax In continuation of this Office Notification No. 3994 (F. No. 203/18/80-ITA. II) dated 1-6-1981, it is hereby notified for general information that the institution mentioned below has been approved by the Department of Science and Technology, New Delhi, the prescribed authority for the purposes of clause (ii) of sub-section (1) of section 35 of the Income-tax Act, 1961, read with rule 6
