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Income Tax : Learn about Section 87A rebate applicability on short-term capital gains under the new tax regime for FY 2023-25. Explore legal ch...
Income Tax : Explore the Principal Purpose Test (PPT) in international tax law, its impact on treaty benefits, legal uncertainty, and potential...
Income Tax : Budget 2025 introduces tax reliefs, higher TDS thresholds, and urban housing reforms, impacting real estate growth while raising c...
Income Tax : Income tax updates effective 1st April 2025 include higher TDS thresholds, extended startup benefits, increased rebates, and simpl...
Income Tax : Many taxpayers who have claimed an HRA deduction exceeding ₹5 lakh in their income tax returns have received an email from the I...
Income Tax : Get insights on key amendments in the Income-tax Act, 1961, including changes to Sections 9A, 44BBD, 10(10D), and 158BB under the ...
Income Tax : JAOs face workload imbalances, limited manpower, and systemic issues post-Faceless Assessment Scheme. Suggestions for better resou...
Income Tax : ITGOA urges CBDT to address workload imbalances in JAO charges. Proposes systematic reorganization to ensure equitable distributio...
Income Tax : IT officials can access digital records during searches under IT Act, 1961, but personal emails and social media access is not all...
Income Tax : The updated return facility encourages voluntary tax compliance, allowing taxpayers to correct income omissions. Proposal to exten...
Income Tax : ITAT Jaipur quashes PCIT order revising assessment of Auro Iron, citing insufficient inquiry and overreach on reassessment grounds...
Income Tax : ITAT Jaipur held that assessee just needs to establish that the amount has come from the bank account of the cash-creditors. Asses...
Income Tax : ITAT Kolkata held that issuance of notice under section 143(2) of the Income Tax Act by non-jurisdictional Assessing Officer rende...
Income Tax : Gujarat High Court held that refund entitled to assessee on the basis of order passed by CIT(A) cannot be unjustifiably adjusted a...
Income Tax : Bombay High Court dismisses revenue's appeal in PCIT Vs Umesh Ishrani case, citing lack of corroboration for loose paper evidence ...
Income Tax : Income Tax offices across India will remain open on March 29-31, 2025, for pending work, as per CBDT order under Section 119 of th...
Income Tax : CBDT notifies Income Tax (Sixth Amendment) Rules, 2025, introducing safe harbour rules for assessment year 2025-26. Full details o...
Income Tax : Guidelines for Assessing Officers on handling high-risk e-Verification cases under the e-Verification Scheme 2021, including steps...
Income Tax : CBDT allows data sharing with Delhi's IT Dept. for social welfare scheme identification under Income Tax Act Section 138. Read the...
Income Tax : CBDT issues FAQs on revised guidelines for compounding offences under Income Tax Act, 1961. Covers filing procedures, fees, compet...
Notification: S.O.1717 It is hereby notified for general information that the Management Development Institute, New Delhi has been approved by the Council of Scientific and Industrial Research, the prescribed authority for the purposes of
Circular : No. 137 -Income Tax I am directed to say that the Board has considered whether in computing the capital gains on sale of motor car to which proviso to section 43(1) applies for purposes of allowance of depreciation, the actual cost has to be historic and true cost of acquisition or the actual cost as artificially reduced under the proviso to section 43( 1).
It is hereby notified for general information that theThe Society for the study of Man, His Environment & Disease (MED) Indiahas been approved by the Council of Scientific and Industrial Research, the prescribed authority for the purposes of clause (ii) of sub-section (1)
It is hereby notified for general information that the Engine Valves Limited, Madras has been approved by the Central Board of Direct Taxes for the purposes of sub-section (2) of section 35D of the Income-tax Act
Circular : No. 136 -Income Tax The Board have examined the question whether the provisions of section 4(1)( a) should be invoked in cases where the consideration for the transfer of property is determined, fixed or approved by the Central Government or the Reserve Bank of India. It has been decided that when any property is transferred and the consideration for such transfer is determined, fixed or approved by the Central
Notification: S.O.1605 It is hereby notified for general information that the institution mentioned below has been approved by the Indian Council of Social Science Research, the prescribed authority for the purposes of clause (iii) sub-section (1) of section 35 of the Income-tax Act, 1961 for a period of three years in the first instance. The trustees will send to the Ind
Notification: S.O.1659 It is hereby notified for general information that the institution mentioned below 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. This notification will take effect from 1st April, 1973.
Notification: S.O.1658 Section(s) Referred: 35 ,35(1) ,35(1)(iii) – Institution – T. S. Narayanaswami Institute of Social and Business Research, Madras. This notification will take effect from 1st April, 1973
It is hereby notified for general information that the Cellulosics Consultants (India) Private Ltd., New Delhi has been approved by the Central Board of Direct Taxes for the purposes of sub-section (2) of section 35D of the Income-tax Act, 1961 (43 of 1961).
Notification: S.O.143 In exercise of the powers conferred by sub-section (3) of section 230A of the Income-tax Act, 1961, (43 of 1961), the Central Board of Direct Taxes hereby notifies that the provisions of sub-section (1) of the said section shall not apply to an authority as is referred to in clause (20A) of section 10 of the said Act, namely, an authority constituted in India b
