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Income Tax : Smt. Ranjana Kumari/Kalta Vs DCIT/ACIT (Central) (ITAT Chandigarh) The appeals involved three assessees belonging to the Kalta Gro...
Income Tax : The guide compiles the principal Income-tax Act provisions applicable to non-residents establishing business in India and resident...
Income Tax : CBDT has identified six categories of returns for compulsory scrutiny during FY 2026-27. Selection triggers detailed examination b...
Income Tax : Tax on dividends, interest, royalties and FTS earned by non-residents is governed by the more beneficial rate under the Income-tax...
Income Tax : The applicable withholding tax depends on the Income-tax Act or the relevant DTAA, whichever is more beneficial. Treaty rates diff...
Income Tax : Net direct tax collections for FY 2026-27 grew by 14.64% as of June 17, 2026, driven by higher corporate and non-corporate tax rec...
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 : ITAT held that CPC could not make adjustments under Section 143(1) without issuing the mandatory prior intimation. The order was q...
Income Tax : SC issued notice as Delhi HC quashed Section 153C notices beyond the ten-year block period while clarifying key principles on sear...
Income Tax : ITAT held the assessment time-barred as the AO failed to pass the final order within the mandatory timeline under Section 144C(13)...
Income Tax : Tribunal partly allowed the assessee's appeals by granting relief on transfer pricing, scientific research deduction, product regi...
Income Tax : The High Court held that the assessment was time-barred as it was not completed within the mandatory period under Section 144C....
Income Tax : CBDT has approved a scientific research institution under the Income-tax Act, 2025 for tax years 2026-27 to 2030-31. The notificat...
Income Tax : CBDT has approved the University of Hyderabad for scientific research under Section 45 of the Income-tax Act, 2025. The approval i...
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...
Therefore, in exercise of the powers conferred by sub-section (1) of section 9A, read with the second proviso to sub-section (5) and sub-section (6) of that section of the said Customs Tariff Act and rule 23 of the Customs Tariff (Identification, Assessment and Collection of Anti-dumping Duty on Dumped Articles and for Determination of Injury) Rules, 1995, the Central Government hereby makes the following amendment in the notification of the Government of India in the Ministry of Finance (Department of Revenue) No. 109/2000-Customs, dated the18th August 2000,namely.
Circular No. 8 of 2005-Income Tax The Finance Act, 2005 has introduced a new levy, namely, Fringe Benefit Tax (hereafter referred to as FBT) on the value of certain fringe benefits. The provisions relating to levy of this tax are contained in Chapter XII-H (sections 115W to 115WL) of the Income-tax Act, 1961. This circular seeks to provide a harmonious, purposive and contextual interpretation of the provisions of the Finance Act, 2005 relating to the FBT so as to further the objective of this levy
07/2005 Annual Information Return (AIR) of ‘high value financial transactions’ is required to be furnished under section 285BA of the Income-tax Act, 1961 by ‘specified persons’ in respect of ‘specified transactions’ registered or recorded by them during the financial year. The due date of filing of the return is the 31st of August of the following year.
Circular No. 07/2005-Income Tax Section 285BA of the Income-tax Act, 1961 requires certain specified persons (filers) to file an Annual Information Return (AIR) in respect of specified financial transactions registered or recorded by him during a financial year. The nature of the transactions and the threshold value above which information has to be submitted in the AIR are prescribed in the Table in Rule 114E of IT Rules, 1962, a copy of which is enclosed as Annexure A. Rule 114E has been amended vide notification no.182/2005 dated 11.7.2005. The form in which the return is to be filed is Form
Notification No.195/2005 – Income Tax It is hereby notified for general information that the organization Himalayan Institute Hospital Trust, Jolly Grant, Dehradun – 248140 (Uttranchal) has been approved by the Central Government for the purposes of clause (ii) of sub-section (1) of section 35 of the Income Tax Act, 1961, read with rule 6 of the Income tax Rules, 1962 for the period from 1-4-2001 to 31-3-2004 under the
The Finance Act, 2005, has inserted in the Income-Tax Act, 1961 (the Act), a new Chapter XII-H. This Chapter deals with ‘Fringe Benefit Tax’ (FBT) and it contains Sections 115W to 115WL. The provisions of FBT have come into effect from 1.4.2006 viz. assessment year (AY) 2006-07, relevant to financial year (FY) 2005-06. For the purposes of Chapter XII-H, vide Section 115WB(1) of the Act, ‘Fringe Benefits (FB) means any consideration for employment provided by way of –
Notification No.194/2005 – Income Tax It is hereby notified for general information that the organization The Voluntary Health Services, T.T.T.I. Post (Adyar), Chennai-600113 has been approved by the Central Government for the purposes of clause (ii) of sub-section (1) of section 35 of the Income Tax Act, 1961, read with rule 6 of the Income tax Rules, 1962 for the period from 1-4-2003 to 31-3-2006 under the
Notification No.193/2005 – Income Tax It is hereby notified for general information that the organization Banaras Hindu University, Varanasi – 221 005 (Uttar Pradesh) has been approved by the Central Government for the purposes of clause (ii) of sub-section (1) of section 35 of the Income Tax Act, 1961, read with rule 6 of the Income tax Rules, 1962 for the period from 1-4-2004 to 31-3-2007 under the category
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 assessee and separate books of accounts are maintained in respect of such business
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 assessee and separate books of accounts are maintained in respect of such business
