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Income Tax : Rule 46(8) mandates daily backups of electronic books on servers located in India, strengthening digital tax compliance and data i...
Income Tax : CBDT allows eligible salaried taxpayers with LTCG up to ₹1.25 lakh under section 112A to file ITR-1, simplifying return filing f...
Income Tax : Explore income-tax rates applicable over the last ten assessment years for individuals, companies, firms, LLPs, HUFs, and co-opera...
Income Tax : Learn how business and professional income is computed under the Income-tax Act after the Finance Act, 2026. This guide explains t...
Income Tax : Understand the statutory time limits for issuing income-tax notices and completing assessments under the Income-tax Act. The guide...
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 Jaipur held that exemption under Section 11 cannot be denied merely because Form 10B was filed late when it was already avail...
Income Tax : Bombay HC admitted the Revenue's appeal on AMP expenditure and payments to doctors, holding both require judicial examination. It ...
Income Tax : ITAT held that agricultural land within the prescribed municipal distance is a capital asset and restricted the on-money addition ...
Income Tax : NCLAT held that a single application covering multiple years and company officers is maintainable in the absence of any statutory ...
Income Tax : ITAT held that Section 87A rebate cannot be denied on tax payable under Section 111A where the assessee qualifies under the prescr...
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...
The only dispute in the present appeals is as to whether the assessee is entitled to deduction under section 80P(2)(a)( i) of the Income-tax Act, 1961, in respect of the income from the investment of rupees two crores in the purchase of 13.5 per cent. PSEB Bonds, 2003 First Series on September 20, 1993.
Circular No. 13 of 2002-Income Tax Reference is invited to Circular No. 15/2001, dated 12-12-2001 wherein 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 2001-2002, were intimated.
Notification No. 384-Income Tax In exercise of the powers conferred by clause (ii) of subsection (1) of section 80L of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies the bonds in the nature of debentures, detailed below, issued by the “Industrial Credit and Investment Corporation of India limited, Mumbai,” in its public issue of Safety Bonds-February
Notification No. 382-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 the bonds in the nature of debentures, detailed below, issued by the “Industrial Credit and Investment Corporation of India Limited, Mumbai,” in its public issue of Safety Bonds-October, 2000, for the purpose of the said clause
Notification No. 381-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 the bonds in the nature of debentures, detailed below, issued by the “Industrial Credit and Investment Corporation of India Limited, Mumbai” in its public issue of Safety Bonds-August, 2000, for the purpose of the said clause
Notification No. 385-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 the bonds in the nature of debentures, detailed below, issued by the “Industrial Credit and Investment Corporation of India Limited, Mumbai,” in its public issue of Safety Bonds-March, 2001, for the purpose of the said clause
Notification No. 380-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 the bonds in the nature of debentures, detailed below, issued by the “Industrial Credit and Investment Corporation of India Limited, Mumbai,” in its public issue of Safety Bonds-July
Notification No. 383-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 the bonds in the nature of debentures, detailed below, issued by the “Industrial Credit and Investment Corporation of India Limited, Munibai,” in its public issue of Safety Bonds-November, 2000, for the purpose of the said clause
Notification No. 379-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 “9.50% Tax Free Bonds” bearing distinctive numbers from 1 to 24000, of rupees one lakh each, issued by National Textile Corporation Limited and carrying an interest of 9.50 per cent per annum, for a period of 5 years, for a total amount of rupees 240 crores
Notification No. 386-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 the bonds in the nature of debentures, detailed below, issued by the “Industrial Credit and Investment Corporation of India limited, Mumbai,” in its public issue of Safety Bonds-December, 2000, for the purpose of the said clause
