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Income Tax : The 2025 amendment in Section 143(1) of the Income Tax Act introduces new compliance requirements. Taxpayers must ensure consisten...
Income Tax : To give relief to small taxpayers from tedious job of maintaining of books of account and getting accounts audited, Income-tax Act...
Income Tax : Understand income tax rebate u/s 87A and LTCG tax u/s 112A under the new tax regime for FY 2024-25 with calculation rules, limits,...
Income Tax : Tax loss harvesting is a tax planning strategy that allows taxpayers, especially investors, to lower their capital gains tax liabi...
Income Tax : ITAT Chennai rules unaccounted customer deposits, with traceable identities and commercial substance, are liabilities, not income ...
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 Pune rules one-time membership and share fees as capital receipts for Veershaiv Cooperative Bank, reversing lower authority�...
Income Tax : ITAT Pune grants partial relief in cash deposit case during demonetization under Section 69A. Dispute centered on unexplained depo...
Income Tax : ITAT Pune quashes PCIT's Section 263 order against Shree Balaji Associates, stating AO made inquiries; no lack of inquiry found....
Income Tax : ITAT Mumbai held that as per circular no. 6 of 2016 dated 29th February 2016, it is clear that it is the assessee who decides whet...
Income Tax : Delhi High Court held that section 153C of the Income Tax Act doesn’t required AO to find or uncover a relationship or an associ...
Income Tax : ITAT Chandigarh held that ITO Ward-3(1), Chandigarh had no jurisdiction to issue notice to an NRI and hence consequently the asses...
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...
In supersession of the Notification No. 313 (F. No. 403/50/71-ITCC) dated 9th November, 1971, and in exercise of the powers conferred by section 2(43B) of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby authorises the Commissioner of Income-tax (Recovery), Delhi, to exercise the powers of a Tax Recovery Commissioner.
Circular No. 84-Income Tax Section 280ZA provides for the issue of tax credit certificates to public companies owning industrial undertakings situated in urban areas if they shift their undertakings to some other areas with the prior approval of the Board.
n exercise of the powers conferred by sub-section (23A) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies the profession of ‘Company Secretaries’ for the purpose of the said section
Notification: S.O.2172 It is hereby notified for general information that the institution mentioned below has been approved by the Indian Council of Social Science Research, New Delhi, the prescribed authority, for the purposes of clause (iii) of sub-section (1) of section 35 of the Income-tax Act, 1961.
Notification: S.O.2171 KASTURBA HEALTH SOCIETY, SEVAGRA 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.315(E) In pursuance of sub-clause (f) of clause (iii) of sub-section (3) of section 194A of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies the Cawnpore Anti-Tuberculosis Association, Kanpur, for the purposes of the said sub-clause
Circular No. 81-Income tax I am directed to invite a reference to the Board’s Circular No. 71 [F.No. 245/25/ 71-A & PAC], dated 26-3-1972 and to say that the CBDT have passed a revised order of date in supersession of their earlier order dated 28-2-1972, a copy of which was sent
Circular No. 83-Income Tax I am directed to invite a reference to this Ministry’s Circular No. 60 [F. No. 275/38/71-ITJ], dated 5-6-1971 on the subject of deduction of income-tax from salaries paid during the year 1971-72. The Finance Bill introduced in the Parliament on March 16, 1972, inter alia, prescribes the rates at which income-tax has to be deducted during the financial year 1972-73 from income
Circular No. 82-Income Tax I am directed to forward a copy of draft circular letter setting out the rates at which income-tax and surcharge should be deducted from interest on Government securities on or after April 1, 1972. It is requested that a circular on the basis of this draft may be issued by you immediately to all Treasury Officers and Sub-Treasury Officers under your control, individually.
Notification: S.O.2170 TATA INSTITUTE OF SOCIAL SCIENCE, BOMBAY 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 (43 of 1961),
