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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...
Notification No. 2-Income Tax It is notified for general information that enterprise, listed at para. (3) below has been approved by the Central Government for the purpose of section 10(23G) of the Income-tax Act, 1961, read with rule 2E of the Income-tax Rules, 1962, for the assessment years 2002-2003, 2003-2004 and 2004-2005.
In the last quarter of the financial year 2000-0 1, a serious controversy arose in the Income-Tax Department and export circles of Mumbai. The controversy related to the issue whether deduction U/S 80-HHC of the Income-Tax Act, 1961 (the Act), is allowable in respect of export incentives viz. cash compensatory support (CCS), duty drawback (DDK) and profit on sale of import entitlement licences (I/L)
Even if the ground about contravention of the provisions of Section 11(5) of the Act is validly taken by the respondent, the same would have a bearing only at the point of time of the assessment of the petitioner-trust and would not be a material consideration in so far as granting of approval under Section 80G(5) of the Act is concerned.
Circular No. 15/2001-Income Tax Reference is invited to Circular No. 798, dated 30-10-2000 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 2000-2001
Notification No.S.O.1120(E) – Income Tax In exercise of the powers conferred by clause (a) of sub-section (1) of section 115ACA of the Income-tax Act, 1961 (43 of 1961), the Central Government specifies “the Issue of Foreign Currency Convertible Bonds and Ordinary Shares (Through Depository Receipt Mechanism) Scheme, 1993” notified, vide notification of the Government of India, Ministry of Finance, Department of Economic Affairs No. G.S.R. 700(E), dated the 12th November, 1993, as a scheme for the purpose of the said clause in respect of
Circular No. 13 of 2001-Income Tax The Government has proposed to levy a Minimum Alternate Tax (MAT) on companies, which was announced by the Finance Minister in the Budget Speech on 22nd July, 1996. A new section 115JA is being inserted in the Income-tax Act, 1961 for this purpose. The salient features of the proposed MAT are as follows
Circular No. 14-Income Tax Amendments at a glance Rate Structure Amendments to Wealth-tax Act Amendments to Expenditure-tax Act Amendments to National Bank for Agriculture and Rural Development act, 1981 Amendments to National Banking Housing Act, 1987
Notification No.S.O.1021(E) – Income Tax The Notification printed at [2001] 251 ITR (St.) 230 was published in the Gazette of India, Extry. No. 753, dt. 11-10-2001, Pt. II, sec. 3(ii), p. 3.
Notification No.S.O.940(E) – income Tax S.O. 940(E) – In exercise of powers conferred by section 295, read with clause (2) section 17 and sub-section (2C) of section 192 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely
Explore the Kerala High Court judgment in CIT vs. Shri. C. Najeeb regarding penalty on income determined under Section 158BC of the Income Tax Act. Discover key questions of law, such as whether the Tribunal’s decision to levy income tax on 15% of total receipts is correct. Dive into the intricacies of assessment and penalty proceedings, including insights on undisclosed income, civil liability, and the interpretation of Section 158BFA. Uncover the court’s findings, providing clarity on the computation of undisclosed income and the imposition of penalties in this significant tax case.
