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Income Tax : The Finance Act, 2024 has inserted a new section, 194T, for TDS deduction by partnership firms/Limited Liability Partnerships (LLP...
Income Tax : The framework outlines mandatory disclosures and timelines for opting into safe harbour. Key takeaway: strict compliance is essent...
Income Tax : The new form consolidates multiple income disclosures into one, enabling accurate TDS deduction. Key takeaway: unified reporting r...
Income Tax : A detailed overview of updated TDS provisions mapping old and new sections, rates, and thresholds. Helps taxpayers understand comp...
Income Tax : The Tribunal held that additions cannot stand without a clear link between seized material and the assessee. It ruled that third-p...
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 : Court held that penalty under Section 270A cannot apply where assessed income does not exceed processed income. Key takeaway: stat...
Income Tax : The Tribunal held that the assessee had adequately explained the source of cash deposits with supporting evidence. Addition under ...
Income Tax : The tribunal ruled that reliance only on an investigation report without independent evidence cannot justify treating LTCG as bogu...
Income Tax : The Tribunal held that industrial tariff charged by electricity boards is the correct benchmark for CPP transactions. It rejected ...
Income Tax : The Court held that reassessment proceedings must be initiated within the statutory time limit. It found the notice issued after t...
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 continuation of this Office Notification No. 6282 (F. No. 203/230/84-ITA.II) dated 21-6-1985, it is hereby notified for general information that the Institution mentioned below has been approved by the Department of Scientific and Industrial Research, New Delhi, the prescribed authority for the purposes of clause (ii) of sub-section (1) of section 35 (Thirty-five/one/two) of the Income-tax Act, 1961.
In exercise of the powers conferred by sub-clause (v) of clause (23C) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies “Shree Jayarambhai Dayabhai Chauhan (Bytco) Charitable Trust” for the purpose of the said section for the assessment years 1985-86 to 1986-87.
In exercise of the powers conferred by sub-clause (v) of clause (23C) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies “R.C. Diocese of Palayamkottai” for the purpose of the said section for the assessment year 1983-84.
Circular : No. 463-Income Tax Section 80HHC, as substituted by the Finance Act, 1985, provides that an assessee, being an Indian company or a person (other than a company) who is resident in India, exports out of India during the previous year any goods or merchandise to which this section applies, will be allowed [deduction of an amount
Circular: No. 462-Income Tax I am directed to invite a reference to this Department’s Circular No. 426 [F. No. 275/32/85-IT(B)], dated 24-7-1985 wherein the rates at which the deduction of income-tax was to be made during the financial year 1985-86 from payments of income by way of insurance commission under section 194D were intimated.
This notification contains Amendment to Income-tax (Fourth Amendment) Rules, 1986 carried out on July 9, 1986 not reproduced here as it is already contained in the body of the Rules itself.
This notification contains Amendment to Income-tax (Fifth Amendment) Rules, 1986 carried out on 9th July, 1986 not reproduced here as it is already contained in the body of the Rules itself.
CIRCULAR NO. 461-Income Tax In respect of incomes of all categories of taxpayers (corporate as well as non-corporate) liable to tax for the assessment year 1986-87, the rates of income-tax (including surcharge thereon) 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, 1985, for the purposes of
In exercise of the powers conferred by sub-clause (v) of clause (23C) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies “Green Park Free Church, New Delhi”, for the purpose of the said section for the assessment years 1986-87 to 1988-89.
That the said Institute will submit to the prescribed authority by 30th June, each year, 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 concerned Commissioner of Income-tax.
