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Income Tax : Explore the New Tax Bill 2025, replacing the Income Tax Act of 1961. Learn about its simplified structure, global alignment, and c...
Income Tax : Explore the feasibility of flat tax in India. Analyze its impact on equity, revenue, and socio-economic challenges compared to pro...
Income Tax : Explore how new tax rebate under Section 87A allows individuals to avoid tax on incomes up to Rs 12 lakh. Learn through illustrati...
Income Tax : The introduction of Section 194O in the Income Tax Act, 1961 for e-commerce transactions, has created certain overlaps with Sectio...
Income Tax : Finance Bill 2025 limits tax loss carry-forward under Section 72A to 8 years from the original assessment year. Learn about its im...
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 : ITAT Agra held that confirming penalty under section 271B of the Income Tax Act before finalization of quantum assessment is unjus...
Income Tax : ITAT Delhi held that provisions of section 68 or 69A of the Income Tax Act for cash deposit during demonetization period unjustifi...
Income Tax : Delhi High Court held that suo moto disallowance with bona fide yet mistaken belief that amount is liable to be offered for taxati...
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 : The Indian government is set to introduce the new Income Tax Bill, 2025, in the Lok Sabha on February 13, 2025. This comprehensive...
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...
Notification: S.O.3026 It is hereby notified for general information that the institution mentioned below has been approved by the Indian Council of Medical Research, the prescribed authority for the purpose of clause (ii) of sub-section (1) of section 35 of the Income-tax Act, 1961, read with rule 6(ii) of the Income-tax Rules, 1962 under the category of ” Scientific Research Association ” in the field of Medical
Notification: S.O.355(E) In exercise of the powers conferred by section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely :—
Notification: S.O.1979 Central Government hereby notifies Arogyavaram Development Society for the purpose of the said section for and from the assessment year(s) 1975-76.
Section(s) Referred: 132 ,132(11) In exercise of the powers conferred by sub-section (11) of section 132 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies every Commissioner, for the purpose of passing orders on applications against any order made under sub-section (5) of the said section by an Inspecting Assistant Commissioner, empowered under sections 125 and 125A of the said Act, in respect of any person within the jurisdiction of the said Commissioner.
Notification: S.O.2466 In exercise of the powers conferred by clause (v) sub-section (23C) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby not
Circular No.240 – Income Tax The rates of income-tax for the assessment year 1978-79 in the case of all categories of taxpayers (corporate as well as non-corporate) are specified in Part I of the Schedule to the Finance Act, 1978. These rates are the same as those specified in Part III of the First Schedule to the Finance (No. 2) Act, 1977 for the purposes of computation of advance tax; deduction of tax at source
Notification: S.O.2046 Central Government hereby notifies The Society of the Franciscan Brothers, Kotagiri for the purpose of the said section for and from the assessment year(s) 1975-76.
Circular : No. 239-Income Tax Section 8(2) of the Additional Emoluments (Compulsory Deposit) Act, 1974 provides that for the purposes of computing the total income under the Income-tax Act, the amount repaid to an individual is deemed to be salary paid in arrears and the provisions of section 89(1) of the Income-tax Act shall apply.
Notification: S.O.2667 The Department of Revenue hereby amend the Notification No. 593 (F. No. 203/13/74–ITA–II) dated 17-4-1974 as under : This notification contains Corrigendum to Income-tax Act, 1961 carried out on May 15, 1978 not reproduced here as it is already contained in the body of the act itself
Notification: S.O.2399 It is hereby notified for general information that the institution mentioned below has been approved by the Secretary, the Department of Science & 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(iv) of the Income-tax Rules, 1962, under the category ” Association ” in the area of other natural or applied sciences, subject to the following conditions :–
