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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 : 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 : 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 : ITAT Pune rules that late filing of Form 67 does not bar foreign tax credit under Section 90. Read about the case of Shashank Sada...
Income Tax : ITAT Ahmedabad sets aside CIT(A)'s dismissal of appeal due to non-appearance, directing fresh consideration with a proper hearing ...
Income Tax : ITAT Bangalore remits the case of Gold Palace Jewellers back to CIT(A) for fresh consideration, citing a 4-year delay and lack of ...
Income Tax : ITAT Pune confirms CIT's order under Section 263, finding errors in reassessment proceedings for Gourishankar Education Society. A...
Income Tax : ITAT Mumbai rules in favor of B. Braun Medical India, deleting ₹2 Cr addition u/s 68, citing it as an advance payment, not unexp...
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...
It is hereby notified for general information that the institution mentioned below has been approved by the Secretary, Department of Agriculture, Ministry of Food, Agriculture, Community Development and Co-operation, the prescribed authority, for the purposes of clause (a) of sub-section (1) of section 35C of the Income-tax Act, 1961 (43 of 1961) :
Notification: S.O.1997 This Notification contains Amendments to Indian Income-tax (Second Amendments) Rules, 1971 carried out on 11th May, 1971 not reproduced here as it is already contained in the body of the Rules itself
Circular No. 58-Income Tax A question has arisen as to whether in the case of a company where a part of the dividend income is utilised for setting-off loss under any other head, relief under section 80M, is to be allowed on the reduced dividend income remaining after such set-off or on the total dividend income before set-off.
Notification: S.O.1728 Indian Council of Social Science Research, New Delhi has been approved by the Council of Scientific and Industrial Research, the prescribed authority for the purposes of clause (iii) of sub-section (1) of section 35 of the Income-tax Act, 1961 (43 of 1961) :
Notification: S.O.1723 Central Government hereby appoints the Commissioner of Income-tax, Madhya Pradesh, Bhopal, to be the Tax Recovery Commissioner, Madhya Pradesh, Bhopal.
Explore Notification S.O.1514 issued on 23/3/1971, designating Bharatiya Krishi Udyog as an approved institution under Income Tax Section 35(1)(ii). Insights into implications and approvals
Circular No. 57-Income Tax A question has been raised whether a company carrying on the business of refining crude oil into motor spirit, aviation spirit, kerosene and allied articles can be said to be engaged in the manufacture or production of “mineral oil” for purposes of calculating the super tax rebate under the Finance Act, 1964 and the Finance Act, 1965.
Notification: S.O.1474 Gokhale Institute of Politics and Economics, Poona has been approved by the Council of Scientific and Industrial Research, the prescribed authority, for the purposes of clause (iii) of sub-section (1) of section 35 of the Income-tax Act, 1961 (43 of 1961) :
Notification: S.O.1473 The Family Planning Foundation, New Delhi t is hereby notified for general information that the institution mentioned below has been approved by the Council of Scientific and Industrial Research,
Circular No.56 – Income tax Under the existing provisions of section 143, a regular assessment can be made on the basis of the return without hearing the assessee or examining his books of account and other evidence only where the Income-tax Officer is satisfied that the return is correct and complete. Sub-section (1) of section 143, presently, does not empower the Income-tax Officer to make any adjustment to the income or loss declared in the
