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Income Tax : The Income-tax Act, 2025 continues the old specified professions framework without addressing longstanding classification issues. ...
Income Tax : The Supreme Court dismissed the Revenue's review petitions and reiterated that payments for off-the-shelf software do not constitu...
Income Tax : A detailed overview of limitation periods prescribed under the Income-tax Act reveals how missing statutory deadlines can lead to ...
Income Tax : Budget 2026 has extended the due dates for ITR-3, ITR-4, and revised returns, offering taxpayers greater flexibility. Understandin...
Income Tax : Relocating to Sikkim does not automatically exempt you from income tax. This article explains who qualifies under Section 10(26AAA...
Income Tax : The CBI apprehended an Income Tax Office Superintendent in Odisha after he was allegedly caught accepting a bribe for deleting a d...
Income Tax : The Income Tax Appellate Tribunal has proposed a priority disposal mechanism for appeals filed up to and including 2022 in respons...
Income Tax : A representation has urged CBDT to merge TDS return codes 1023 and 1024, arguing that both apply to the same contract payments wit...
Income Tax : Association requested CBDT to rationalize CASS 2026 case selection considering the administrative burden caused by implementation ...
Income Tax : KSCAA requested the CBDT to release e-filing utilities and schemas for AY 2026-27 without delay, stating that pending utilities ar...
Income Tax : The Tribunal held that an incomplete document recovered from an employee's laptop could not justify an addition under Section 69 w...
Income Tax : The ITAT held that once registration under Section 12AB was ultimately granted on the basis of the original application, the doctr...
Income Tax : The ITAT Chennai ruled that funds received by a Chartered Accountant for remitting clients' taxes could not be treated as unexplai...
Income Tax : ITAT Mumbai held that appellate forums can entertain additional claims even without a revised return. The matter was remanded to t...
Income Tax : The Telangana High Court held that recovery proceedings under Section 226(3) cannot automatically extend to a daughter's bank acco...
Income Tax : The CBDT has identified specific categories of taxpayers whose returns will be compulsorily selected for complete scrutiny during ...
Income Tax : The Ordinance exempts interest income and capital gains arising from Government securities for Foreign Institutional Investors and...
Income Tax : The Central Government has specified infrastructure sub-sectors from the Updated Harmonised Master List as eligible businesses und...
Income Tax : CBDT has granted scientific research approval under the Income-tax Act, 2025, enabling eligible donations to qualify for tax benef...
Income Tax : CBDT has granted scientific research approval under the Income-tax Act, 2025, allowing eligible donations to qualify for tax benef...
Provided that in the event of the death of the first holder of the deposit in a case of a joint holder type deposit the other holder of the deposit shall be entitled to encash the term deposit before its maturity by making an application to the branch manager of the bank supported by proof of death of the first holder of the deposit.
The approved organization shall maintain a separate statement of donations received and amounts applied for scientific research and a copy of such statement duly certified by the auditor shall accompany the report of audit referred to above.
Circular No. 8 of 2007-Income Tax Reference is invited to Circular No. 11/2006, dated 16-11-2006 whereby the rates of deduction of income-tax from the payment of income under the head “Salaries” under section 192 of the Income-tax Act, 1961, during the financial year 2006-07, were intimated. The present Circular contains the rates of deduction of income-tax from the payment of income chargeable under the head
Notification No. 286 – Income Tax In exercise of the powers conferred by section 118 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby directs that the income-tax authorities specified in column (3) of the Schedule below shall be subordinate to the income-tax authority specified in column (2) of the said Schedule
Notification No. 285 – Income Tax In exercise of the powers conferred by sub-sections (1) and (2) of section 120 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby directs that Commissioner specified in column (2) of the Schedule below, having his headquarters at the place specified in the corresponding entries in column (3) of the said Schedule, shall exercise the powers and
Notification No. 284 – Income Tax In exercise of the powers conferred by sub-sections (1) and (2) of section 120 of the Income- tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby
Notification No. 283 – Income Tax In exercise of the powers conferred by sub-sections (1) and (2) of section 117 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby appoints the officer specified in column (2) of the Schedule below to be the Income-tax authority as specified in column (3) having his headquarters at the place specified in column (4) of the said Schedule for such jurisdiction as may be
Notification No. 282 – Income Tax Whereas the annexed Protocol amending the agreement between the Government of the United Arab Emirates and the Government of the Republic of India for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income which was published in the Gazette of India, Extraordinary, Part II, section 3, sub-section (i) vide number GSR 710(E), dated the
It is the legal owner (i.e. the assessee in the case before us) who is liable to the wealth-tax levy on the value of specified assets licensed/leased by him for a term of less than twelve years as laid down in section 269UA(f). However, the legal owner shall not be liable to wealth-tax levy on the value of specified assets leased by him for a term of not less than twelve years by virtue of any such transaction as is referred to in section 269UA(f) of the Income-tax Act. It is in fact the person acquiring any rights (i.e., lessee) in or with respect to any building under a lease for a term of not less than twelve years by virtue of any such transaction as is referred to in section 269UA(f) of the Income-tax Act who shall be deemed to be the owner thereof in terms of the provisions of section 4(8)(b) of the Wealth-tax Act.
The approved organization shall maintain a separate statement of donations received and amounts applied for research in social sciences and a copy of such statement duly certified by the auditor shall accompany the report of audit referred to above.
