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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 : 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 : 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 : The Assessee is aggrieved by the information received pursuant to application under Right to Information Act, 2015, whereby the As...
Income Tax : ITAT Mumbai held that exercising revisionary jurisdiction under section 263 of the Income Tax Act by PCIT on the basis of factual ...
Income Tax : ITAT Ahmedabad held that assessment order passed u/s. 143(3) is neither erroneous nor prejudicial to the interest of revenue. Henc...
Income Tax : During pendency of the assessment proceedings, respondent No.1 filed application u/s. 245C(1) before the Income Tax Settlement Com...
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 instituion mentioned below has been approved by the Indian Council of Agriculture Research the prescribed authority for the purposes of clause (ii) of sub-section (1) of section 35 of the Income-tax Act 1961.
That the said Society will furnish annual returns of its scientific research activities to the prescribed authority for every financial year in such form as may be laid down and intimated to them for this purpose, by 30th April, each year.
That the institution will furnish annual returns of its scientific research activities to the Council for each financial year by 15th May each year at the latest in such form as may be laid down and intimated to them for this purpose.
This notification is effective for a period of This notification is effective for a period two years from 1-4-79 to 31-3-1981. for a period of two years from 18-7-1979 to 17-7-1980.
Circular : No. 259 -Income Tax The Board had an occasion to consider the question whether the development rebate reserve created in respect of a particular machinery or plant in the year of installation or use and/or in the year or years subsequent thereto, to the extent of availability of book profits, can be taken into account for the purposes of section 34(3)( a) in the year or years of actual allowance of the development rebate
Whether ITAT was justified in allowing depreciation even though the particulars were not furnished in the appropriate part of the return of income but they were furnished in the course of the assessment proceedings before the Income-tax Officer at the latter’s requisition ?
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 Anjuman-e-Islamiah Kurnool for the purpose of the said section section for and from the assessment year(s) 1977-78.
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 Khemisatiji Mandir Trust Jhunjhunu for the purpose of the said section for and from the assessment year(s) 1975-76.
Where the declarant is a firm by the managing partner thereof or where for any unavoidable reason such managing partner is not able to sign the declaration or where there is no managing partner as such by any partner thereof not being a minor.
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 Manav Seva Sang Virndaban for the purpose of the said section section for and from the assessment year(s) 1977-78.
