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Income Tax : Understand advance tax rules, due dates, and penalties for non-compliance. Learn how to avoid interest charges under sections 234B...
Income Tax : Receiving an income tax notice can be disconcerting, particularly for individuals who are not well-versed with tax laws and compli...
Income Tax : Discover key highlights of India's Income Tax Bill 2025, effective April 2026, featuring simplified tax structures, revised slabs,...
Income Tax : Supreme Court clarifies the applicability of TOLA to reassessment notices under the Income Tax Act, addressing the interplay with ...
Income Tax : Penny stocks, often associated with small, illiquid companies, have been a subject of concern due to their susceptibility to price...
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 : Gauhati High Court held that addition merely on the basis of retracted statement without any other relied upon evidence/ material ...
Income Tax : ITAT Jaipur quashes addition of suppressed school fees for Pushpa Vidya Niketan, stating survey statements lack evidentiary value...
Income Tax : ITAT Mumbai rules that the 10% tolerance limit under Section 50C/56(2)(x) is curative and applies retrospectively, impacting prope...
Income Tax : ITAT Bangalore upheld CIT(A)'s acceptance of additional evidence in local language, dismissing AO's addition under Section 69A. Re...
Income Tax : ITAT Bangalore set aside penalty orders under Section 271B due to improper notice delivery to an unrelated email ID and failure to...
Income Tax : The Karnataka Urban Water Supply & Drainage Board receives tax exemption for specified income from FY 2023-24 to 2027-28 under Sec...
Income Tax : CBDT amends Income Tax Rules, effective April 1, 2025, revising Form 3CD, MSME interest provisions, buyback reporting, and loan/de...
Income Tax : The Government of India keeps Small Savings Schemes interest rates unchanged for Q1 FY 2025-26 (April–June 2025), as per the Min...
Income Tax : CBDT circular allows waiver of TDS/TCS interest under sections 201(1A)/206C(7) due to technical errors. Details on eligibility and...
Income Tax : CBDT notifies the Income-tax (Seventh Amendment) Rules, 2025, updating Forms 26Q and 27Q to include Section 194T on payments to fi...
Circular : No. 150 -Income Tax The Income-tax (Third Amendment) Rules. 1974, notified by the Central Board of Direct Taxes on 21-9-1974, have substituted sub-clause (i) of clause (a) of rule 3 of the Income-tax Rules, relating to valuation of the perquisite represented by rent-free residential accommodation in the case of Government employees, etc., by a new sub-clause. The provisions of the new sub-clause
Circular No. 148 – Income Tax The President promulgated the Compulsory Deposit Scheme (Income-tax Payers) Ordinance, 1974 on 17-7-1974 to provide for compulsory deposits by certain categories of income-tax payers in the higher income brackets. This Ordinance has since been replaced, with minor modifications, by the Compulsory Deposit Scheme (Income-tax Payers) Act, 1974 (38 of 1974). Under
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 Shri Anjaneya Swami Temple, Gopichettipalayam, Coimbatore Dt., Tamil Nadu, to be a place of public worship of renown throughout the State of Tamil Nadu for the purposes of the said section.
This notification contains Amendment (Fifth Amendment) to Income-tax Rules carried out on November 2, 1974 not reproduced here as it is already contained in the body of the Rules itself
Circular: No. 147 -Income Tax Under the provisions of section 192, any person responsible for paying any income chargeable under the head “Salaries” is required at the time of payment to deduct income-tax from the amount payable. In any case where an employee claims that his salary is not chargeable to income-tax and, therefore, no income-tax should be deducted at source from the salary receivable by him, the employer
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 Dhandayuthapani Swami Temple, Palani, Madurai Dist., Tamil Nadu, 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.3387 dated 26/10/1974 designates Gujarat Research Society, Bombay, approved by Indian Council of Medical Research, for research purposes under Income Tax Section 35(1)(ii)
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, for a period of three years with effect from 1st April, 1974, and subject to the con
Notification: S.O.3138 In exercise of the powers conferred by section 80R of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies the institution mentioned below for the purposes of the said section.
This notification contains Amendment (Fourth Amendment) to Income-tax Rules carried out on October 17, 1974 not reproduced here as it is already contained in the body of the Rules itself
