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Income Tax : Understand the updated TDS rates for FY 2025-26 (AY 2026-27). Comprehensive chart covering salary, interest, dividends, rent, and ...
Income Tax : Budget 2025 revises income tax slabs, making ₹4,00,000 tax-free. New rates range up to 30% for income above ₹24,00,000. Key de...
Income Tax : Income tax bill, 2025 aims to replace Income Tax Act, 1961, simplifying tax laws. Questions arise about its impact on revenue, lit...
Income Tax : Income Tax Bill 2025 introduces changes to TDS, TCS, and LRS provisions, raising threshold limits and reducing compliance burdens....
Income Tax : CIT International Tax- 1 Vs Expeditors International of Washington INC (Delhi High Court); ITA 202/2022; Dated: 13/02/2025 In a si...
Income Tax : The Institute of Cost Accountants of India seeks inclusion of Cost Accountants in the definition of "Accountant" under Section 515...
Income Tax : Explore the Finance Bill 2025 highlights, including revised tax rates, TDS/TCS amendments, ULIP taxation, and updated rules for sa...
Income Tax : ICMAI addresses the non-inclusion of 'Cost Accountant' in the Income Tax Bill 2025. The Council is engaging with policymakers to e...
Income Tax : Lok Sabha issues corrigenda for the Income-tax Bill, 2025, correcting references, formatting, and legal citations. Read the key am...
Income Tax : KSCAA's representation to CBDT highlights challenges in the Vivad Se Vishwas Scheme 2024, focusing on delayed appeals and suggesti...
Income Tax : Bombay HC rules in CIT vs. Nitish Chordia that agricultural land distance must be measured by road, not aerial view, impacting cap...
Income Tax : ITAT Surat rules that for capital gains tax on agricultural land, municipal limits are determined by notification in force at the...
Income Tax : ITAT remands case regarding taxability of interest income earned before business commencement, citing need for fresh adjudication ...
Income Tax : Bombay High Court rules reassessment proceedings against Alok Industries invalid post-resolution plan approval under IBC, citing S...
Income Tax : ITAT Jaipur dismisses Bansi Lal's appeal, upholding additions for unexplained bank deposits and interest income. Tribunal cites l...
Income Tax : Key updates on income tax deduction from salaries under Section 192 for FY 2024-25, including amendments, surcharge rates, and new...
Income Tax : CBDT extends the due date for filing Form 56F under Section 10AA(8) and 10A(5) of the Income-tax Act, 1961, to March 31, 2025, for...
Income Tax : The Central Government notifies Punjab RERA for tax exemption under Section 10(46A) of the Income-tax Act, effective from the 2024...
Income Tax : The Indian government is set to introduce the new Income Tax Bill, 2025, in the Lok Sabha on February 13, 2025. This comprehensive...
Income Tax : Bhaikaka University, Gujarat, is approved for scientific research under Section 35(1)(ii) of the Income Tax Act, 1961, effective f...
In exercise of the powers conferred by clause (d) of sub-section 5 of section 2 of the Finance Act, 1964 (5 of 1964), the Central Board of Direct Taxes hereby makes the following rules, namely :—
In exercise of the powers conferred by sub-section (6) section 88 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies Sri Sangameswarar Temple, Bhavani,
Notification: S.O.2567 This notification contains amendments to Income-tax Rules carried out on 27th July, 1964 not reproduced here as it is already contained in the body of the rules itself.
In exercise of the powers conferred by sub-section (6) of section 88 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies the Shri Devarajaswamy
Notification: S.O.2573 It is hereby notified for general information that the institution mentioned below has been approved by the Council of Scientific and Industrial research, the prescribed authority
It is hereby notified for general information that the institution mentioned below has been approved by the Council of Scientific and Industrial research, the ” prescribed authority “, for the purpose of clause (ii) of sub-section (1) of section 35 of the Income-Tax Act, 1961, (43 of 1961).
In exercise of the powers conferred by section 126 of the Income-tax Act, 1961, (43 of 1961), the Central Board of Direct Taxes hereby deletes Serial No. 67 and the entries thereagainst from the
Notification: S.O.2362 Indian Cancer Society, Bombay 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, (43 of 1961).
Under Income-tax Act the annual value of the property is to be taken as a sum which the property might reasonably be expected to fetch. The annual value is no doubt a hypothetical sum. But what is to be taken into consideration is the whole of the consideration which the landlord receives from the tenant for his right to use and occupy the property.
For the two accounting periods the assessee, a resident company, incorporated outside India paid -estate duty payable on the death of its certain share holders not domiciled in India and debited the said amounts to revenue in its accounts in ascertaining the profits and gains of its business for the said years.
