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Income Tax : Learn about Section 40(b) limits on partner remuneration and the introduction of Section 194T for TDS on remuneration, effective A...
Income Tax : Budget 2025 has brought significant simplification in the tax treatment of house properties, particularly for self-occupied proper...
Income Tax : Understand how to compute total income and tax liability under the Income Tax Act, including adjustments for business, capital gai...
Income Tax : Learn about income tax filing requirements for proprietors in the USA, including forms, schedules, deductions, deadlines, and pena...
Income Tax : Understand the changes to the Cost Inflation Index for FY 2024-25, including indexation removal on long-term capital gains and new...
Income Tax : CPC (TDS) reminds deductors to file TDS Statement 26Q for Q2 FY 2024-25. Late/non-filing may attract fees and affect TDS credit fo...
Income Tax : Union Cabinet has approved the new Income Tax Bill 2025, aiming to simplify and modernize India's tax system by replacing the 1961...
Income Tax : CBI registers case against 9, including Deputy Commissioner, 2 Inspectors, and 5 CAs, for sabotaging Faceless Tax Scheme; searches...
Income Tax : India's tax arrears stand at ₹47 lakh crore as of Dec 2024. CBDT & CBIC are taking steps, including asset identification, litiga...
Income Tax : India decriminalizes minor direct tax offenses to ease compliance. New measures include litigation management, compounding guideli...
Income Tax : Delhi High Court rules on Section 153C notices for AYs 2014-15 to 2020-21 in Dev Technofab Limited Vs DCIT, citing lack of incrimi...
Income Tax : Supreme Court examines "first offence" definition under Section 276CC of the Income Tax Act in the Vinubhai Mohanlal Dobaria case....
Income Tax : ITAT Chennai ruled that brokers facilitating land deals are not liable under Section 269SS as they act on behalf of clients and do...
Income Tax : Supreme Court confirms that Section 153C notices issued without a valid satisfaction note are invalid, aligning with the Delhi Hig...
Income Tax : Telangana HC upholds tax addition under Section 69A, ruling that the assessee’s land was not under cultivation, rejecting agricu...
Income Tax : Bhaikaka University, Gujarat, is approved for scientific research under Section 35(1)(ii) of the Income Tax Act, 1961, effective f...
Income Tax : Notification No. 14/2025 updates Form 49C submission rules for liaison offices under the Income-Tax Act. Filing deadline set to 8 ...
Income Tax : CBDT amends Income-Tax Rules, 1962, updating regulations for Infrastructure Debt Funds, including investment criteria, bond issuan...
Income Tax : CBDT authorizes data sharing with DFPD to identify PMGKAY beneficiaries. MoU to govern data confidentiality, transfer mode, and ti...
Income Tax : BILL No. 14 OF 2025 THE FINANCE BILL, 2025 (AS INTRODUCED IN LOK SABHA) THE FINANCE BILL, 2025 ARRANGEMENT OF CLAUSES ______ AS IN...
It is hereby notified for general information that the following scientific research programme has been approved for the period specified below for the purposes of sub-section (2A) of section 35 of the Income-tax Act, 1961, read with rule 6(iv) of the Income-tax Rules, 1962, by the Indian Council of Agricultural Research, New Delhi.
That the Banasthali Vidyapith College of Arts and Science will maintain a separate account of the sums received by it for scientific research in the field of natural or applied sciences (other than agriculture/animal husbandry/fisheries & medicines).
That the institution will maintain a separate account of the sums received by it for scientific research in the field of medical research. (ii) That the institution will furnish annual returns of its scientific research activities to the Council for each year by 31st May, each year, at the latest in such form as may be laid down and intimated to them for this purpose.
That the association will furnish an annual audited statement of accounts to the Council for each year by 31st May, each year, and in addition send a copy of it to the concerned Income-tax Commissioner.
It is hereby notified for general information that the following scientific research programme has been approved for the period specified below for the purposes of sub-section (2A) of section 35 of the Income-tax Act, 1961, read with rule 6(iv) of the Income-tax Rules, 1962, by the Secretary, Department of Science & Technology, New Delhi.
Circular No. 269-Income Tax Certain jurisdictional problems in regard to the interpretation of the provisions of section 246(2) and of the corresponding sections of other Direct Tax Acts, and also in regard to the scope of the Board’s Notifications issued under section 246(2)(i) have been referred to the Board for clarification. They are posed in the form of questions and answered hereunder
Circular No. 268 – Income Tax The rates of income-tax and surcharge for the assessment year 1980-81 in the case of all categories of taxpayers (corporate as well as non-corporate) will be the same as were specified in Part III of the First Schedule to the Finance Act, 1979 for the purpose of calculating or charging income-tax in certain cases, deducting income-tax from income chargeable under the head “Salaries
This notification contains amendments to Income-tax Act carried out on 25th April, 1980 not reproduced here as it is already contained in the body of the rules itself.
It is hereby notified for general information that the approval given under section 35(1)(ii) of the Income-tax Act, 1961, to the Indian Institute of Plant Engineers, Madras, by notification No. 1427 dated 6-8-1976 is withdrawn with effect from 1-1-1980 on the recommendation of the prescribed authority, the Secretary, Department of Science & Technology, New Delhi.
Circular No. 267-Income Tax I am to invite your attention to this Office Letter No………..regarding deduction of income-tax and surcharge from interest on Government securities during the financial year 1979-80.
