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Income Tax : Understand penalties for under-reporting and misreporting of income in transfer pricing adjustments, as per the Income Tax Act 196...
Income Tax : Depreciation is statutory deduction that allows businesses to set off cost of their tangible & intangible assets over their useful...
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Income Tax : Section 194T imposes TDS on partner income, leading to procedural issues, misuse of funds, and complications for taxpayers. Calls ...
Income Tax : Learn about common income tax notices for salaried individuals, their implications, and steps to handle them effectively. Avoid le...
Income Tax : Learn how CRS and FATCA enhance tax transparency, requiring foreign asset disclosure in India. Avoid penalties with complete, accu...
Income Tax : Direct tax collections for FY 2024-25 have risen 21.2% gross, with a 15.41% net growth compared to the previous year, reflecting c...
Income Tax : CBI files chargesheet against Principal Commissioner of Income Tax and four others in a Rs 10 lakh bribery case. Investigation det...
Income Tax : CBDT sets transfer pricing tolerance range at 1% for wholesale trading and 3% for other transactions for AY 2024-25, providing cla...
Income Tax : KSCAA highlights critical issues on India’s Income Tax Portal, impacting timely filings for returns and TDS with glitches, timeo...
Income Tax : Madras High Court held that recovery action against the Directors of the company under the provisions of the Tamil Nadu General Sa...
Income Tax : The petitioner is engaged in the business of construction and development works. The petitioner performed various contracts under ...
Income Tax : ITAT Delhi held that delay of 35 days in filing of an appeal before CIT(A) ought to be condoned since assessee has explained the s...
Income Tax : ITAT Kolkata held that reassessment order quashed since notice issued under section 148 of the Income Tax Act was served after the...
Income Tax : Delhi High Court held that dismissed the petition as adequate efficacious alternative remedy is available by way of filing an appe...
Income Tax : CBDT mandates electronic filing for Forms 42, 43, and 44 under Rule 131 of Income Tax Rules, 1962, effective November 22, 2024. No...
Income Tax : CBDT Circular No. 17/2024 outlines guidelines for condoning delays in filing Forms 10-IC and 10-ID for AYs 2020-21 to 2022-23 unde...
Income Tax : CBDT Circular No. 16/2024 outlines procedures for condoning delays in filing Forms 9A, 10, 10B, and 10BB for AY 2018-19 onwards un...
Income Tax : CBDT grants tax exemption to the Petroleum and Natural Gas Regulatory Board for AY 2024-25 under Section 10(46A) of the Income Tax...
Income Tax : CBDT sets new monetary limits for waiver of interest on delayed tax payments under Section 220(2) of the Income Tax Act, 1961, eff...
Notification: T-V461(21)/64 In pursuance of sub-section (5) of section 226, and section 229 of the Income-tax Act, 1961 (43 of 1961), section 33 of the Gift-tax Act, 1958 (18 of 1958), and section 19 of the Super Profits Tax Act, 1963 (14 of 1963), and of all other powers enabling him in this behalf and in supersession of all previous orders in so far as they
Notification: S.O.511 This notification contains Amendment to Income-tax Rules carried out on 4-2-1964 not reproduced here as it is already contained in the body of the Rules itself
Notification: S.O.347 Wool Research Association, Bombay – It is hereby notified for general information that the institution mentioned below has been approved by the Council of Scientific and Industrial Research,
Notification: S.O.107 Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely :—This notification contains Amendment to Income-tax Rules carried out on 1-1-1964 not reproduced here as it is already contained in the body of the Rules itself
Notification: S.O.3128 Study Group of Tetanus, K. E. M. Hospital, Bombay has been approved by the Indian Council of Medical Research, the prescribed authority, for the purposes of clause (ii) of sub-section (1) of section 35 of the Income-tax Act, 1961 (43 of 1961).
Notification: S.O.2953 In pursuance of sub-clause (ii) of clause (15) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies the following Certificates for the purposes of that sub-clause, namely :
In exercise of the powers conferred by sub-section (6) of section 88 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies the Sri Nachiar (Sri Andal) an
In exercise of the powers conferred by sub-section (6) of section 88 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies the Sri Jambukeswarar and Sri Akhilandeswari
Circular No.1(15) – Income Tax The basic rates of income-tax and super tax for the assessment year 1963-64 continue to be exactly the same as for the assessment year 1962-63. So far as Union surcharge and the special surcharge on unearned income are concerned, the rates are the same as in the last year, subject to the following changes
Notification: S.O.3142 Section(s) Referred: 230 ,230(1) Statute: INCOME TAX Date of Issue: 4/10/1962 In exercise of the powers conferred by sub-section (1) of section 230 of the INCOME-TAX ACT, 1961 (43 of 1961), the Central Government hereby makes the following further amendment to the notification of the Government of India in the Ministry of Finance (Revenue Division) No. S.R.O. 961, dated the 25th May, 1953, namely : This notification contains amendments to Income-tax Act, carried out on 4th October, 1962, not reproduced here as it is already contained in the body of the act itself In exercise of the powers conferred by sub-section (1) of section 230 of the INCOME-TAX ACT, 1961 (43 of 1961), the Central Government hereby makes the following further amendment to the notification of the Government of India in the Ministry of Finance (Revenue Division) No. S.R.O. 961, dated the 25th May, 1953, namely : This notificatio
