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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 : 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 : Delhi HC modifies bail travel restrictions in Gorav Gupta case, post GST adjudication, allowing travel with department intimation,...
Income Tax : ITAT Bangalore held that denial of exemptions under section 11 and 12 of the Income Tax Act is unjustified as fees are charged by ...
Income Tax : Petitioner stated that the said notice was issued pursuant to the information collected under section 135A of the Act, which perta...
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...
It is hereby notified for general information that the institution mentioned below has been approved by the Central Board of Direct Taxes for the purposes of clause (a) of sub-section (2) of section 35D of the Income-tax Act, 1961, in the field of Technological, Engineering, Electronics and Management Consultancy.
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.
Examination of application of Solar Energy in the process of manufacture of hand tools, providing chilled water to workers’ canteen, design and fabrication of suitable models based on the research.
That the Foundation will furnish a copy of the annual audited statement of accounts to the Council 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 prescribed authority, the Secretary, Department of Science and Technology, New Delhi
That the Association will furnish annual returns of its scientific research activities to the Council for each year at the latest by 31st May in each year in such form as may be laid down and intimated to them for this purpose.
That the Centre for Organisation Development shall send an annual statement of accounts and annual report to the I.C.S.S.R. as well as to the concerned Commissioner of Income-tax, showing the funds collected by them under this exemption and the manner in which funds were utilised.
That the Association will furnish a copy of the annual audited statement of accounts to the Council by 31st May each year and, in addition, send a copy of it to the concerned Income-tax Commissioner.
The Board have been considering the manner of refunding the amount paid in excess of the tax deducted and/or deductible (whichever is more) under sections 192 to 194D of the Income-tax Act. The Board are advised that such excess payment can be refunded, independently of the Income-tax Act, to the person responsible for making such payment subject to necessary administrative safeguards.
In exercise of the powers conferred by clause (v) of sub-section (23C) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies Arulmigu Kapaleeswarar Temple for the purposes of the said section for the assessment year(s) 1973-74 to 1981-82.
