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Income Tax : New TDS Rules Under Section 194T: Impact on Taxpayers & Businesses – Effective from 1st April 2025 Introduction The Finance ...
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Income Tax : Ensure tax compliance before March 31, 2025. Key tasks include filing returns, verifying TDS, updating accounts, and making necess...
Income Tax : Partnership firms must comply with new tax rules from April 1, 2025. Changes include higher partner remuneration limits and mandat...
Income Tax : Learn about TDS on payments to non-residents, including business connection rules, royalty provisions, and significant economic pr...
Income Tax : India's direct tax collections for FY 2024-25 show a 13.13% net growth, with gross collections up by 16.15% and significant gains ...
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 : ITAT Mumbai quashes reassessment in Top Class Capital Markets Pvt Ltd Vs ACIT due to incomplete disclosure of reasons for reopenin...
Income Tax : ITAT Pune remands Ask Chemicals India's appeal to NFAC, directing it to adjudicate on merits rather than dismissing for non-prosec...
Income Tax : Kerala HC upheld the TDS penalty under Section 271C in US Technologies case, directing reconsideration of quantum. Read the detail...
Income Tax : Bombay HC rules unexplained bank credits are taxable under Sec 68. Orders probe into accommodation entry racket by Buniyad Chemica...
Income Tax : Sanjay Vs ITO (ITAT Delhi) ITAT Delhi condone delay in appeal of 1086 days in Sanjay vs. ITO: Key Ruling on Reassessment Under Sec...
Income Tax : CBDT issues FAQs on revised guidelines for compounding offences under Income Tax Act, 1961. Covers filing procedures, fees, compet...
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...
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.
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 Catholic Mission, Trichi, for the purpose of the said section for the assessment year(s) 1978-79 to 1981-82.
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 Diocese of Calcutta (Church of North India) for the purpose of the said section for the assessment year(s) 1979-80 to 1981-82.
Circular No. 284-Income Tax The question as to whether gifts in kind made by any person would be eligible for exemption under section 5(1)(v ) has been considered by the Board in consultation with the Ministry of Law.
In exercise of the powers conferred by sub-section (2)(b) of section 80G of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies Kannanthur Sri Thodakukkin Daivasthana, Balepuni Village, Dakshina Kannada District to be a place of public worship of renown throughout the State of Karnataka for the purposes of the said section.
That the C. C. Shroff Research Institute, New Delhi, will maintain a separate account of the sums received by it for scientific research in the field of natural or applied sciences (other than agricultural/animal husbandry/fisheries and medicines).
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 Diocese of Kurnool, for the purposes of the said section for the assessment year(s) 1973-74 to 1981-82.
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 Punjab Amalgamated Fund for the Welfare of Ex-servicemen for the purpose of the said section for and from the assessment year(s) 1978-79.
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 Cancer Patients Aid Association, Bombay, for the purpose of the said section for the assessment year(s) 1981-82.
