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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 : 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 : 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 : 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 : Telangana HC upholds tax addition under Section 69A, ruling that the assessee’s land was not under cultivation, rejecting agricu...
Income Tax : Supreme Court confirms that Section 153C notices issued without a valid satisfaction note are invalid, aligning with the Delhi Hig...
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 : 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...
Notification: S.O.1788 In exercise of the powers conferred by sub-section (2)(b) of section 80(G) of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies Shri Kallalagar Temple, Alagar Koil, Melur Taluk, Madurai District, Tamil Nadu, to be a place of public worship of renown throughout the
Notification: S.O.2586 The Department of Revenue hereby amend the notification No. 2103 (F. No. 203/142/77 –ITA. II) dated 4th January, 1978, as under : This notification contains Corrigendum to Income-tax Act, 1961 carried out on April 26, 1978 not reproduced here as it is already contained in the body of the act itself
Notification: S.O.2297 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 purposes 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”
Notification: S.O.2221 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 purposes 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”
Notification: S.O.1978 Central Government hereby notifies Akhil Bharat Krishi Goseva Sangh, Wardha, for the purpose of the said section for and from the assessment year(s) 1962-63.
Notification: S.O.1787 Central Government hereby notifies Veerayatan Nalanda, for the purpose of the said section for and from the assessment year(s) 1975-76.
Notification: S.O.2397 It is hereby notified for general information that the approval given under section 35(1)(ii) of the Income-tax Act, 1961, to Mysore Iron and Steel Works, Bhadravati, by notification No. 34, dated 24th November, 1946, is withdrawn with effect from 17th March, 1978, on the recommendation of the presc
Notification: S.O.2396 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 purposes 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
Circular : No. 236-Income Tax I am directed to invite a reference to this Department’s Circular No. 226 [F. No. 275/19/77-IT(B)], dated 14-7-1977 on the above subject. Under section 194B, every person responsible for paying to any person, whether resident or non-resident any income by way of winnings from any lottery or crossword puzzle in an amount exceeding Rs. 1,000
Circular : No. 237-Income Tax I am directed to invite a reference to this Department’s Circular No. 227 [F. No. 275/20/77-IT(B)], dated 14-7-1977 on the above subject. Section 194D provides for the deduction of tax at source, at such rates as may be specified in this behalf by the Finance Act of the relevant year from payments of income by way of insurance commission, to a resident, whether an individual,
