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Income Tax : The scheme allows households to deposit gold and earn interest without selling it. The key takeaway is that both interest and capi...
Income Tax : The issue is whether foreign businesses without offices in China must comply with tax laws. The key takeaway is that activities an...
Income Tax : The new tax law addresses long-standing concerns over complexity by reducing provisions and simplifying language. It introduces st...
Income Tax : Preventive detention laws allow incarceration without trial based on suspicion, raising serious concerns about violation of person...
Income Tax : The case highlights how the new framework enforces stricter compliance using data analytics. It underscores that incorrect declara...
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 : ITAT Delhi held that companies owning and operating channels cannot be compared with distribution company for the purpose of trans...
Income Tax : The Tribunal examined disallowance made for delayed employee contributions under Section 143(1). It held that debatable issues can...
Income Tax : The issue involved validity of penalty proceedings initiated through an unsigned notice. The Tribunal ruled that such a notice is ...
Income Tax : The case examined whether property registered in trustees’ names violated Section 13(1)(c). The Tribunal held no violation as no...
Income Tax : The case examined whether a lower TDS certificate applies prospectively or for the full year. The Court held it applies to the ent...
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...
Notification No.S.O.3396 – 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 ” 13 per cent. and 14 per cent. Secured Redeemable Non-Convertible Bonds—‘B’ Series-1987 “, issued by the Indian Telephone Industries Limited, Bangalore, for the purpose of the said clause
Circular : No. 498 -Income Tax I am directed to refer to para 4(8)(e)(ii ) of this Department’s Circular No. 489 [F. No. 275/51/87-IT(B)], dated 25-6-1987 [see under section 192] wherein the incentives provided under section 80C to the income-tax payers in respect of housing loans, etc., taken from specified institutions have been explained.
Notification No.S.O.180 – 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 per cent. Secured Redeemable Non-convertible Bonds, 1987 (B Series) ” issued by the National Hydroelectric Power Corporation Limited, New Delhi, for the purpose of the said clause
Notification No.S.O.179 – Income Tax In exercise of the powers conferred by item (h) of sub-clause (iv) of clause (15) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies ” 10 year 9 per cent.(Tax Free) Secured Redeemable Non-convertible Bonds, 1987 (B Series) ” issued by the National Hydroelectric Power Corporation Limited, New Delhi, for the purpose of the said item
That the said Institute will apply to the Central Board of Direct Taxes, Ministry of Finance (Department of Revenue), New Delhi, 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.
This notification contains Amendment to Income-tax (Eighth Amendment) Rules, 1987 carried out on 29th October, 1987 not reproduced here as it is already contained in the body of the Rules itself.
That the said Association will submit to the prescribed authority by 30th June, each year, a copy of their audited annual accounts showing their total 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, and the concerned Commissioner of Income-tax.
That the said Institute will submit to the prescribed authority by 30th June, each year, a copy of their audited annual accounts showing their total 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, and the concerned Commissioner of Income-tax.
Notification No.S.O.3255 – 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 the “13% Secured Redeemable Non-convertible Bonds–(B-series)” issued by M/s. National Hydroelectric Power Corporation Limited, New Delhi for the purposes of the said clause
In exercise of the powers conferred by clause (iv) of sub-section (23C) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies National Co-operative Development Corporation for the purpose of the said clause for the assessment year 1988-89.
