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Income Tax : The reform consolidates TDS provisions into a structured system and introduces digital compliance mechanisms. It enhances clarity,...
Income Tax : The Finance Act, 2024 has inserted a new section, 194T, for TDS deduction by partnership firms/Limited Liability Partnerships (LLP...
Income Tax : The framework outlines mandatory disclosures and timelines for opting into safe harbour. Key takeaway: strict compliance is essent...
Income Tax : The new form consolidates multiple income disclosures into one, enabling accurate TDS deduction. Key takeaway: unified reporting r...
Income Tax : A detailed overview of updated TDS provisions mapping old and new sections, rates, and thresholds. Helps taxpayers understand comp...
Income Tax : The issue was complexity in the existing tax law. It was clarified that the new Act simplifies structure by reducing sections and ...
Income Tax : The tax department clarified that no search or restriction was carried out against the individual. It termed the allegations basel...
Income Tax : The issue concerns massive backlog in ITAT caused by unfilled positions and delayed appointments. The intervention highlights that...
Income Tax : The audit found widespread incorrect claims of deductions for bad debts and reserves. It highlights the need for stricter verifica...
Income Tax : This webinar breaks down the major structural and conceptual changes introduced in the new Income Tax Act, 2025. It helps professi...
Income Tax : The Court noted that the taxpayer could not upload large volumes of documents due to technical limits. It held that authorities sh...
Income Tax : The issue was whether reassessment notice issued without approval from the correct authority is valid. The tribunal held it invali...
Income Tax : The tribunal held that no late fee under Section 234E can be imposed for periods prior to 1 June 2015 due to absence of enabling p...
Income Tax : The Tribunal held that dismissal of appeal solely on limitation without considering bona fide reasons was unjustified. It restored...
Income Tax : The Tribunal set aside the assessment after noting that books of accounts were not produced and required reconsideration. It direc...
Income Tax : The consolidation into Form 121 introduces stricter documentation and reporting obligations. The decision emphasizes accountabilit...
Income Tax : A corrigendum fixes multiple drafting and referencing mistakes in income tax rules. The update ensures clarity without altering su...
Income Tax : The new tax regime introduces Form 121 as a single declaration replacing Forms 15G and 15H. It simplifies TDS exemption compliance...
Income Tax : CBDT clarified the presentation of error categories in Form U. The update ensures clearer reporting of incorrect income heads and ...
Income Tax : The corrigendum corrects technical errors in multiple ITR schedules, including CG and CYLA. It ensures accurate reporting and smoo...
In exercise of the powers conferred by sub-clause (iv) of clause (23C) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies Homi Bhabha Fellowships Council, Bombay, for the purpose of the said sub-clause for the assessment year 1989-90.
That the People’s Institute for Development and Training, New Delhi, will maintain a separate account of the sums received by it for scientific research.
That the said Institute will apply to the Central Board of Direct Taxes, Ministry of Finance (Department of Revenue), New Delhi and DGIT (Exemption), Calcutta, three months in advance before the expiry of the approval for further extension. Applications received after the date of expiry of approval are liable to be rejected.
That the said Association will furnish annual returns of its scientific research activities to the prescribed authority for every financial year in such forms as may be laid down and intimated to them for this purpose by 31st May, each year.
That the said Institute will apply to the Central Board of Direct Taxes, Ministry of Finance (Department of Revenue), New Delhi and DGIT (Exemption), Calcutta, before the expiry of the approval for further extension. Applications received after the date of expiry of approval are liable to be rejected.
That the said Association will submit to the prescribed authority by 30th June, each year, a copy of their audited annual accounts showing their income and expenditure and balance-sheet showing its assets and liabilities with a copy of each of these documents to the Central Board of Direct Taxes, New Delhi, DGIT (Exemption), Calcutta, and the concerned Commissioner of Income-tax.
That the said Association will submit to the prescribed authority by 30th June, each year, a copy of their audited annual accounts showing their income and expenditure and balance-sheet showing its assets and liabilities with a copy of each of these documents to the Central Board of Direct Taxes, New Delhi, DGIT (Exemption), Calcutta, and the concerned Commissioner of Income-tax.
In exercise of the powers conferred by sub-clause (iv) of clause (23C) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies Institute of Marketing and Management, New Delhi, for the purpose of the said sub-clause for the assessment year 1988-89 and 1989-90.
Notification No.S.O.260(E) – Income Tax In exercise of the powers conferred by clause (iib) of the proviso to section 193 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies “7 year-13% (taxable) Secured Redeemable Non-convertible HUDCO Shelter Bonds (Series-II)”, issued by the Housing and Urban Development Corporation Limited, for the purpose of the said clause
Notification No.O.259(E) – Income Tax In exercise of the powers conferred by clause (ii) of sub-section (1) of section 80L of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies “7 year-13% (taxable) Secured Redeemable Non-convertible HUDCO Shelter Bonds (Series-II)”, issued by the Housing and Urban Development Corporation Limited, for the purpose of the said clause
