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Income Tax : ITAT Delhi held penalty u/s 271(1)(c) unsustainable as 54F exemption failed due to builder delay, not taxpayer’s fault. Full dis...
Income Tax : Understand the taxability of royalty income for German companies in India, DTAA applicability, and the procedure for claiming tax ...
Income Tax : India's Income Tax Department launched a major crackdown on fake deductions and bogus refunds in July 2025. Learn about the fraud,...
Income Tax : Learn how to file ITR 1 Sahaj online for FY 2024-25 under India’s New Tax Regime. A simplified stepwise guide covering documents...
Income Tax : Learn lawful gifting strategies using debt mutual funds, capital assets, and property transfers to reduce income tax liability und...
Income Tax : Income Tax Department's crackdown on fraudulent tax claims reveals misuse of deductions and exemptions under various sections. Lea...
Income Tax : India's net direct tax collections fell by 1.34% to ₹562,827 crore by July 10, 2025, despite a 3.17% rise in gross collections, ...
Income Tax : Tax professionals express concerns to the Finance Minister regarding the CBDT's delayed release of ITR forms for AY 2025-26, impac...
Income Tax : Comprehensive list of 30 banks available at the e-Filing Portal's e-Pay Tax service. Find out the new and migrated banks, along wi...
Income Tax : Join CA Ruchika Bhagat on June 29, 2025, for a webinar on NRI taxation. Learn about residential status, taxable income, DTAA, TDS,...
Income Tax : ITAT Raipur deletes additions for bogus purchases and short yield in P.D. Rice Udyog case, citing lower purchase rates and incorre...
Income Tax : ITAT Raipur directs tax authorities to limit bogus purchase additions to profit margins, citing Bombay HC precedent on genuine sal...
Income Tax : Ahmedabad ITAT rules in Greenfield Reality case to tax only 8% profit on unaccounted on-money, deleting separate additions for exp...
Income Tax : ITAT deletes interest disallowance under Section 36(1)(iii) for lack of nexus and upholds telescoping of expenses to avoid double ...
Income Tax : ITAT Ahmedabad reviews Sankalp Recreation's tax appeals concerning unaccounted income, expenses, book rejection, and PF/ESIC disal...
Income Tax : Ministry of Finance exempts Haryana's District Legal Service Authorities from income tax on specific income sources, effective fro...
Income Tax : CBDT grants tax exemption to BBNDA for FYs 2013–2018 on specific incomes. Conditions apply, including non-commercial activity an...
Income Tax : The Ministry of Finance extends the income tax exemption under Section 10(23FE) from March 31, 2025, to March 31, 2030, through a ...
Income Tax : The Ministry of Finance extends the income tax exemption under Section 10(23FE) from March 31, 2025, to March 31, 2030, through a ...
Income Tax : Ministry of Finance extends the income tax exemption under Section 10(23FE) from March 31, 2025, to March 31, 2030, through a rece...
Notification: S.O.3193 Post-graduate Insitute of Medical Education and Research, Chandigarh 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) :
Circular : No. 42 -Income Tax I am directed to invite a reference to the Board’s Circular No. 22/68-IT(B) [F.No. 12/23/68-IT(B)], dated 28-3/13-5-1968, and to say that the Finance Act of 1970, has made an important change in section 194A by inserting a new clause (vii) in sub-section (3) of that section. As per this clause, the provisions of section 194A are not applicable
Circular No. 43 -Income Tax Attention is invited to the Board’s Circular Letter F.No. 12/29/65-IT(B), dated 1-6-1965 [Annex] instructing that there should be no deduction of tax at source from interest income credited to the account of any non-resident. This instruction was issued on the basis of the provisions of section 10(4A) as introduced from April 1, 1965 which
It is hereby notified for general information that the institution mentioned below has been approved for the period of three years in the first instance by the Indian Council of Agricultural 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). Institution
In pursuance of sub-clause (f) of clause (iii) of sub-section (3) of section194A of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notify for the purposes of t
Notification: S.O.2391 Central Government hereby notifies Shri Shantesh Maruthi Devasathan, Hirekerur, Dist. Dharwar, to be of archaeological and artistic importance for the purposes of the said section
Notification: S.O.2321 Central Government hereby notifies Shri Devenathaswamy Temple, Cuddalore, to be of archaeological and artistic importance for the purposes of the said section
Notification: G.S.R.825 In pursuance of the provisions of section 280D of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies that annuity deposits made or recovered during the year 1970-71 shall bear interest at the rate of 4 1/4 per cent. (approximately) per annum
Circular No. 40-Income Tax In para 1.45 of their 100th Report (1969-70), the Public Accounts Committee have observed as follows : “The Government are yet to clarify to the public whether a party would forfeit the development rebate when the entire assets are sold to Government and the development rebate reserve
Circular No. 39-Income Tax A comprehensive agreement for the avoidance of double taxation of income between India and Republic of France was signed by the representatives of the two countries on 26th March, 1969, and a notification under s.90 of the IT Act and s. 24A of the Companies (Profits) Surtax Act, to give effect to the provisions of the Agreement, has been
