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Income Tax : Understand key differences between legal and tax terms like Act vs Rule, Exemption vs Deduction, TDS vs TCS, and more for better c...
Income Tax : ITAT Mumbai ruled in favor of an auto-rickshaw driver, rejecting a ₹103 Crore income addition, citing insufficient investigation...
Income Tax : Understand the new 1% TCS on luxury goods above ₹10 lakh in India, effective April 2025. Learn which items are included, implica...
Income Tax : Learn about India's TCS on luxury goods. Effective April 2025, 1% TCS applies to sales over ₹10 lakh for watches, art, yachts, a...
Income Tax : Learn about the latest changes in TCS under Section 206C(1F) for luxury goods exceeding ₹10 lakh. Find the list of notified item...
Income Tax : CBI arrests IRS officer and private individual for allegedly undermining the Faceless Tax Scheme by leaking confidential info for ...
Income Tax : Understand CBDT's Notification 38/2025 on non-deductible settlement expenses under Income-tax Act for SEBI, Competition Act violat...
Income Tax : Representation highlights long delays at NFAC affecting over 5 lakh appeals, urging CBDT to expedite resolutions and restore taxpa...
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 : ITAT Mumbai rules on Usha Chandresh Shah's appeal against treating share sale proceeds as cash credit instead of long-term capital...
Income Tax : Punjab & Haryana HC dismisses Balbir Chand Maini's appeal, upholding ITAT's finding of a non-genuine share sale transaction and in...
Income Tax : Punjab & Haryana HC affirms ITAT order, treating Chandan Gupta's share sale gain as unexplained income (Sec 68) due to bogus trans...
Income Tax : ITAT Mumbai upholds treating Ratnakar Pujari's share sale proceeds as unexplained cash credit due to a previously established bogu...
Income Tax : ITAT Delhi hears Shikha Dhawan's appeal against LTCG denial on penny stock sale, deemed unexplained income. Accommodation entry al...
Income Tax : CBDT notification details income tax exemption for Mysore Palace Board. Covers income from palace, fees, rent from government agen...
Income Tax : CBDT notification clarifies that expenses to settle proceedings under SEBI, Securities Contracts, Depositories, and Competition Ac...
Income Tax : The Central Government notifies the National Mission for Clean Ganga as exempt from income tax under Section 10(46A), effective AY...
Income Tax : The Central Board of Direct Taxes notifies tax collection at source on the sale of certain goods exceeding 竄ｹ10 lakh, effectiv...
Income Tax : Latest income tax rule changes effective April 2025. Form 27EQ updated with new categories for tax collection at source on various...
Circular No. 85-Income Tax The Finance Act, 1972 has made several modifications in the scheme of tax exemption of casual and non-recurring receipts. The effect of these modifications will, inter alia be that winnings from lotteries and crossword puzzles will become chargeable to income-tax from the assessment year 1973-74 onwards. Under a provision made in the new section 194B every person responsible
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.
