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Income Tax : The Income-tax Act, 2025 continues the old specified professions framework without addressing longstanding classification issues. ...
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Income Tax : The Income Tax Appellate Tribunal has proposed a priority disposal mechanism for appeals filed up to and including 2022 in respons...
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Income Tax : Association requested CBDT to rationalize CASS 2026 case selection considering the administrative burden caused by implementation ...
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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...
The above notification is liable to be rescinded by the Central Government, if it is subsequently found that the activities of the Institution are not genuine or if they are not carried out in accordance with all or any of the conditions subject to which it was notified.
this notification will not apply in relation to any income being profits and gains of business, unless the business is incidental to the attainment of the objectives of the Institution and separate books of account are maintained in respect of such business.
The report of such audit in the prescribed form duly signed and verified by such accountant and setting forth such particulars as may be prescribed.
Notification No.16 – Income Tax In the notification of the Government of India, in the Ministry of Finance, Department of Revenue (Central Board of Direct Taxes), number S.O. 44(E), dated the 15th January, 2007 published in the Gazette of India, Extraordinary, in Part II, Section 3, Sub-section (ii), dated the 15th January, 2007 at page 3, in column 2, in line 2
The Institute will get its accounts audited by an accountant as defined in Explanation below sub-section (2) of section 288 and furnish along with the return of Income.
Under the general provision relating to Partnership Act that partnership firm is not a juristic person and for inter relationship different remedies are provided to enforce the rights arising out of their inter se transactions, the issue about separate entities apart, it cannot be doubted that the assessee has acted bona fide and his plea that inter se transactions
The Institute will get its accounts audited by an accountant as defined in Explanation below sub-section (2) of section 288 and furnish along with the return of Income.
The above notification is liable to be rescinded by the Central Government, if it is subsequently found that the activities of the Institution are not genuine or if they are not carried out in accordance with all or any of the conditions subject to which it was notified.
The above notification is liable to be rescinded by the Central Government, if it is subsequently found that the activities of the institution are not genuine or if they are not carried out in accordance with all or any of the conditions subject to which it was notified.
This notification is applicable only to the recipients of income on behalf of the Institution and not to any other receipt or income of such recipients.
