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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...
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 Greater Calcutta Leprosy Treatment ans Health Education Scheme (GRECALTES) for the purpose of the said clause for the assessment years 1985-86 to 1988-89.
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 King George V Memorial, Bombay for the purpose of the said clause for the assessment years 1986-87 to 1988-89.
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 Royal Commonwealth Society for the Blind, Bombay for the purpose of the said clause for the assessment years 1985-86 to 1988-89.
Circular No. 494-Income Tax FINANCE (AMDT.)ORDINANCE ACT, 1987 1. The Central Government has promulgated an Ordinance (No. 6 of 1987) on 19th September, 1987. The Ordinance is named as the Finance (Amendment) Ordinance, 1987. By this Ordinance, Part III of the First Schedule to the Finance Act, 1987 has been amended.
CIRCULAR NO. 495-Income Tax In respect of incomes of all categories of taxpayers (corporate as well as non-corporate) liable to tax for the assessment year 1987-88, the rates of income-tax have been specified in Part I of the First Schedule to the Finance Act. These rates are the same as those laid down in Part III of the First Schedule to the Finance Act, 1986, for the purposes of computation of
Notification No.S.O.835(E) – Income Tax In exercise of the powers conferred by section 269U of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby appoints the 1st day of October, 1987, as the date on which Chapter XXC of the said Act shall come into force in
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 Army Wives Welfare Association, Bombay for the purpose of the said clause for the assessment years 1985-86 to 1988-89.
In exercise of the powers conferred by clause (b) of sub-section (2) of section 80G of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies that Shri Thotadrinather Deivanayaga Perumal Temple, Nanguneri, to be of historical importance for the purpose of the said sub-section.
In exercise of the powers conferred by clause (v) of sub-section (23C) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies Anandashram Trust, Kanhangad for the purpose of the said clause for the assessment years 1987-88 to 1988-89.
Notification No.S.O.260 – Income Tax In exercise of the powers conferred by the third proviso to clause (10) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government, having regarding to the maximum amount which is for the time being exempt under sub-clause (i) of the said clause and in supersession of the order issued by the Notification No. GSR 537(E) dated 1st July, 1985, increases the limit of fifty
