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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 : 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 Finance Bill 2025 revises tax slabs, reducing the burden on middle-class taxpayers. The changes aim to boost savings and consu...
Income Tax : Interest paid on late payment of TDS was not an expenditure wholly and exclusively incurred for the purpose of business and furthe...
Income Tax : ITAT Delhi allows India Thermit Corporation’s appeal, ruling that scrutiny assessment under Section 143(2) bars summary processi...
Income Tax : Assessee had consistently shown the plots as investments in earlier years and that the nature of income could not be determined so...
Income Tax : In pursuance of search, notice u/s.153A was issued and in response, assessee also filed its return of income. AO noted that assess...
Income Tax : Assessee had strongly contended that he was unaware of who Shri Kaustubh Latke and Shri Shailesh Patil are, since they were not co...
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...
Circular No. 297-Income Tax Reference is invited to Board’s Circular No. 296, dated 31-3-1981 by which the Commissioners were asked to direct the ITOs to send two copies of return forms, etc., to the assessees existing on the register of the Department by ordinary post. This direction is modified to the extent that return forms etc., should be sent only to those assessees whose income according to the latest return/assessment on
Notification No. S.O.1795 – Income Tax In exercise of the powers conferred by clause (iv) of sub-section (23C) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies Sanjay Gandhi Memorial Trust for the purpose of the said section for period covered by the assessment years 1982-83 to 1983-84.
Notification No. S.O.1716 – Income Tax It is hereby notified for general information that the institution mentioned below has been approved by the Secretary, 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
Notification No. S.O.1794 – Income Tax In exercise of the powers conferred by clause (iv) of sub-section (23C) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies The Mill Owners’ Association Relief Fund Society for the purpose of the said section for the assessment years 1978-79 to 1981-82
Notification No. S.O.1715 – Income Tax In continuation of this Department’s notification No. 2179 (F. No. 203/15/78-ITA. II), dated 21st February, 1978, it is hereby notified for general information that the institution mentioned below has been approved by the Indian Council of Medical Research, New Delhi, the prescribed authority for the purposes of clause (ii) of sub-section
Circular No. 296-Income Tax With a view to enabling the tax-payers existing on the registers of the Income-tax Department to file the return of income in time and to avoid inconvenience in approaching the Income-tax Offices for getting the return forms, it has been decided by the Board that from the financial year 1981-82, 2 copies of blank income-tax return forms will be despatched by the concerned Income-tax
Notification No. S.O.2722 – Income Tax The Department of Revenue hereby amend the Notification No. 2055 (F. No. 203/145/77-ITA.II) dated 26-11-1977 as under
Notification No. S.O.1714 – Income Tax 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
Notification No. S.O.1712 – Income Tax It is hereby notified for general information that the institution mentioned below has been approved by the Indian Council of Medical Research, 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(ii) of the Income-tax Rules, 1962, under the category of “scientific research association
Notification No. S.O.1711 – Income Tax It is hereby notified for general information that the institution mentioned below has been approved by the Indian Council of Medical Research, 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(ii) of the Income-tax Rules, 1962, under the category of “scientific research association
