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Income Tax : Understand Form 15G & 15H for no TDS on interest. Learn who should file, deadlines, online submission, and penalty details....
Income Tax : Section 119(2)(b) allows delayed ITR filings with valid reasons. Revised limits, conditions, and judicial insights guide this less...
Income Tax : Get the complete TDS rate chart for FY 2025-26, including key rates, thresholds, and compliance notes for various payments under t...
Income Tax : ITAT Mumbai resolves the controversy on surcharge for trusts/AOPs taxed at MMR. Learn about the decision favoring slab-based rates...
Income Tax : Check the TDS chart for FY 2025-26, covering various payments like salary, dividends, winnings, rent, and more. Understand the app...
Income Tax : ITAT enables e-filing and virtual hearings; over 26,000 e-filings and 1.22 lakh video hearings conducted till Feb 2025, per Minist...
Income Tax : The Finance Bill 2025 proposes tax exemption on income up to ₹12 lakh, revised tax slabs, and a ₹75,000 standard deduction for...
Income Tax : A summary of corporate tax concessions in India, including key deductions, exemptions, and revenue impact from 2021-24 under 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 : ITAT Surat overturns CIT(E)'s rejection of Rotary Club's 12A registration, citing denial of fair hearing opportunity; matter resto...
Income Tax : Delhi ITAT dismisses revenue's appeal, holding cash advance for property purchase intended as investment not subject to Section 40...
Income Tax : ITAT Ahmedabad rejects revenue's objection on additional evidence, affirming CIT(A) acted within Section 250(4) powers, deleting a...
Income Tax : Bombay High Court dismisses Anil Ambani's urgent plea against a tax notice, imposes ₹25,000 cost for creating artificial urgency...
Income Tax : Ahmedabad ITAT upholds deletion of ₹1 Cr addition for Radhika Diamonds, noting cash sales were duly recorded and business activi...
Income Tax : CBDT introduces ITR-B for search and seizure cases under section 158BC of the Income Tax Act, effective from 1st September 2024....
Income Tax : CBDT sets 30 April 2025 as the last date to file declarations under the Direct Tax Vivad se Vishwas Scheme, 2024....
Income Tax : HUDCO bonds issued after April 1, 2025, notified as long-term assets under Section 54EC for capital gains exemption, usable for in...
Income Tax : CBDT grants tax exemption to Prayagraj Mela Pradhikaran under section 10(46A) of the Income-tax Act, effective from assessment yea...
Income Tax : CBDT notifies Greater Mohali Area Development Authority for income tax exemption under section 10(46A), effective from assessment ...
Notification: S.O.658 The Santhal Paharia Sewa Mandal, Bihar 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).
Notification: S.O.657 The Voluntary Health Services, Madras 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).
Notification: S.O.5595 In exercise of the powers conferred by sub-section (1) of section 295 of the Income-tax Act, 1961 (43 of 1961), and rule 92 of the Second Schedule to that Act, the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax (Certificate Proceedings) Rules, 1962,
It is hereby notified for general information that the institution mentioned below has been approved by the Secretary, Ministry of Agriculture, Department of Agriculture, th
Circular No. 71-Income Tax Where the same income was assessed, as a protective measure, in the hands or more than one assessee or as the income of more than one assessment year, and one or more of these protective assessments needs to be cancelled as a result of some of the relevant assessments having become final and conclusive
In the Income-tax (Amendment) Rules, 1971, published with the notification, the Central Board of Direct Taxes No. S. O. 1917, dated the 20th February, 1971, at pages 1195-1226/5 of the Gazette of India, Extraordinary, Part II, Section 3, sub-section (ii), dated the 22nd February, 1971, This not
It is hereby notified for general information that the Ministry of Finance (Department of Revenue & Insurance) makes the following amendment in their notification No. 58/F. No. 10/36/64-ITA.I dated 1st August, 1964— This notification contains Amendment to Income-tax Act carried
Circular No. 70-Income Tax Section 185(1) has been amended by the Taxation Laws (Amendment) Act, 1970, by the insertion of an Explanation , under which a firm shall not be regarded as a genuine firm if any partner of the firm was, in relation to the whole or any part of his share in the income or property of the firm
Circular No. 69-Income Tax Attention is invited to the provisions contained in clause (xx) of sub-section (1) of section 5. Clause (xx) exempts from wealth-tax the value of any equity shares held by the assessees in any company of the type referred to in clause (d) of section 45 where such shares form part of the initial issue of equity share capital made by the company after March 31, 1964
Circular No. 68-Income Tax The Board are advised that a mistake arising as a result of a subsequent interpretation of law by the Supreme Court would constitute “a mistake apparent from the records” and rectificatory action under section 35/154 of the 1922 Act/the 1961 Act would be in order. It has, therefore, been decided that where an assessee moves an application under section 154
