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Income Tax : Understand the changes to the Cost Inflation Index for FY 2024-25, including indexation removal on long-term capital gains and new...
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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...
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Income Tax : India decriminalizes minor direct tax offenses to ease compliance. New measures include litigation management, compounding guideli...
Income Tax : Petitioner No.1 is a society registered under the Societies Registration Act of 1860 and the Bombay Public Trusts Act of 1950. It ...
Income Tax : ITAT Delhi held that the expenditure incurred on CSR activities may not have direct nexus with the activities of the assessee but ...
Income Tax : ITAT Mumbai held that sale of Dangerous Goods Regulations manuals could not be characterised as ‘royalty’ within the meaning o...
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Income Tax : ITAT Hyderabad rules in favor of Karimnagar DCCB, granting immunity from penalty under Section 270AA. The appeal challenges tax pe...
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...
Income Tax : CBDT authorizes data sharing with the Dept. of Food & Public Distribution to identify beneficiaries under PMGKAY as per Income-tax...
Notification: S.O.1053 Sri Satya Sai Institute of Research, Bombay has been approved by the Indian Council of Social Science Research, the prescribed authority for the purposes of clause (iii) of sub-section (1) of section 35 of the Income-tax Act, 1961,
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 Sri Sivasailanathaswamy Temple, Sivasailam, Tirunelveli District, to be a place of public worship of renown throughout the State of Tamil Nadu and also the neighbouring States f
Circular : No. 104-Income Tax On the basis of the decision of the Gujarat High Court in the case of Dayalbhai Madhavji Vadera v. CIT [1966] 60 ITR 551, the Board had issued instructions that if the share of the wife in a firm in which the assessee is a partner is a loss, such loss is not to be considered in the assessment of the husband under section 16(3) of the 1922 Act [corresponding to section 64(1) of the 1961 Act].
Circular : No. 103-Income Tax Under sub-section (7)(d ) of section 2 of the Finance Act, 1966, an “industrial company” means a company which is mainly engaged in the business of generation or distribution of electricity or any other form of power or in the construction of ships or in the manufacture or processing of goods or in mining.
Notification: S.O.938 has been approved by the Council of Scientific and Industrial Research, the prescribed authority for purposes of clause (ii) of sub-section (1) of section 35 of the Income-tax Act, 1961.
The appellants are the Additional Income-tax Officer and the Commissioner of Income-tax (the revenue); and the respondent, Ponkunnam Traders, a firm, is the assessee. The judgment under appeal is reported as Ponkunnam Traders v. Addl. Income-tax Officer, Kottayam, [1972] 83 ITR 508 (Ker). Since the question involved is fairly simple,
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 Sri Thiruvateeswar Temple, Triplicane, Madras-5, to be of historic, archaeological importance and to be a place of public worship of renown throughout the State of Tamil Nadu for the purposes of the said section.
Notification: S.O.785 The Indian Institute of Management, Calcutta has been approved by the Council of Scientific and Industrial Research, the prescribed authority for the purposes of clause (ii) of sub-section (1) of section 35 of the Income-tax Act, 1961.
Circular No. 102-Income Tax A question has arisen as to whether in the event of death of one of the joint holders of the 12-Year National Plan Savings Certificates, exemption under section 10(15)( ii) would be admissible only in respect of the maximum amount admissible to an individual holder singly or the exemption as available to the joint holders will continue to be available to the surviving joint holder.
Notification: S.O.700 Maharashtra Economic Development Council has been approved by the Indian Council of Social Science Research, the prescribed authority for the purposes of clause (iii) of sub-section (1) of section 35 of the Income-tax Act, 1961, for three years with effect from 1st April, 1972.
