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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...
Circular : No. 228 -Income Tax In continuation of this Department’s Circular : No. 215 [F.No. 275/21/77-IT(B)], dated 31-3-1977 [clarification 2], a copy of the draft circular letter setting out the rates at which income-tax and surcharge should be deducted from interest on Government securities after June 17, 1977 is forwarded herewith
Circular: No. 227 -Income Tax I am directed to invite a reference to this Department’s Circular No. 216 [F. No. 275/20/77-IT(B)], dated 31-3-1977 [Clarification 2] 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, a company or any other category of person.
Circular : No. 226 -Income Tax I am directed to invite a reference to this Department’s Circular No. 217 [F. No. 275/19/77-IT(B)], dated 31-3-1977 [Clarification I am directed to invite a reference to this Department’s Circular No. 217 [F. No. 275/19/77-IT(B)], dated 31-3-1977 [Clarification 2] on the above subject.
Out of the total amount under non-recurring, M/s. K.C.P. Ltd. will donate an amount of Rs. 2.00 lakhs only once during the first year of implementation of the Scheme towards construction of buildings, etc. No further grants are to be given by K.C.P. Ltd.
It is hereby notified for general information that the approval given under section 35(1)(ii) of the Income-tax Act, 1961, to B. J. Medical College, Ahmedabad, by notification No. 150 (F. No. 10/58/67-IT) dated the 6th November, 1967, is withdrawn with effect from 1st April, 1977, on the recommendation of the prescribed authority, the Indian Council of Medical Research, New Delhi.
That the Punjab University, Chandigarh, shall send an annual report to the Indian Council of Social Science Research, New Delhi, showing the funds collected under the exemption and the manner in which the funds were utilised.
The foundation may, with the approval of the I.C.S.S.R., transfer the funds for these fellowships if it so desired to the universities concerned, for management and operation.
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, on the following conditions
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 Arulmigu Azhagia Nambi Rayar Temple at Thirukkurungudi, Nanguneri Taluk, Tirunelveli District, Tamil Nadu to be a place of public worship of renown throught the State of Tamil Nadu for the purposes of the said section.
It is hereby notifed 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, on the following conditions
