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Income Tax : The article explains how the Finance Acts, 2025 and 2026 have reshaped the Updated Return regime under Section 139(8A). It highlig...
Income Tax : The Supreme Court has remitted reassessment cases for fresh consideration after the retrospective insertion of Section 147A, leavi...
Income Tax : Learn the most frequent errors taxpayers make while filing Income Tax Returns for AY 2026-27 and how avoiding them can prevent not...
Income Tax : The article explains how the interaction of Section 87A, marginal relief, and Health & Education Cess can leave taxpayers earning ...
Income Tax : Learn who can apply for an advance ruling, applicable fees, withdrawal rules, and its binding effect under the Income-tax Act. The...
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 Chennai held that unrealizable assets of a company under insolvency could not be included while computing fair market value u...
Income Tax : ITAT Delhi held that the CIT(A) validly remanded a best judgment reassessment after repeated non-compliance by the assessee. The T...
Income Tax : The High Court held that closing the Income Tax portal before the granted response deadline denied the taxpayer a reasonable oppor...
Income Tax : The Karnataka High Court allowed withdrawal of the writ petition and granted liberty to file an appeal under Section 260A of the I...
Income Tax : The ITAT Chandigarh held that no TDS was deductible where professional fees paid to each payee were below the statutory threshold....
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.S. O. 589 – Income Tax 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 specifies Sri Nandaneshwara Temple, New Mangalore, Karnataka, to be a place of public worship of renown throughout the State of Karnataka for the purpose of the said section
Notification No.S. O. 114(E) – Income Tax In exercise of the powers conferred by sub-clause (viii) of clause (10C) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies the Indian Institute of Foreign Trade, New Delhi, registered under the Societies Registration Act, 1860 (21 of 1860), as an Institute of Management for the purpose of the said clause
Notification No.S. O. 110(E) – Income Tax In exercise of the powers conferred by sub-clause (f) of clause (iii) of sub-section (3) of section 194A of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies the West Bengal Industrial Development Corporation Limited, Calcutta, for the purposes of the said sub-clause
Circular No. 773-Income Tax At present, the payee is required to put his signature in the space provided for “Claimants signature” on the reverse of the refund order. The responsibility of the collecting bank in dealing with “account payee” instruments is well-defined under the Negotiable Instruments Act. No specific purpose is served by obtaining this additional discharge on the reverse of this cheque. On the other hand, it
Notification No.S. O. 525 – 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 1998-99, 1999-2000 and 2000-2001
Notification No.S. O. 524 – 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 1998-99, 1999-2000 and 2000-2001
Notification No.523 – Income Tax It is notified for general information that “Home Trust Housing Finance Company Ltd., Calcutta”, has been approved by the Central Government for the purposes of section 36(1)(viii) of the Income-tax Act, 1961, for the assessment years 1999-2000 to 2001-2002.
Notification S.O. 418 dated 2nd Feb 1999 corrects Income Tax Notification No. 10775, pursuant to section 10(23G) of the Income-tax Act.
Notification No.S. O. 48(E) – Income Tax In exercise of the powers conferred by sub-sections (1) and (2) of section 120 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following amendment in the notification of the Government of India in the Ministry of Finance S. O. 548(E), dated 9th July, 1990, published in the Gazette of India, Extraordinary, Part II, section 3
Beware! Changes in Income-Tax Act 1961 impact educational and medical institutions. Understand the consequences of omitting Sections 10(22) and 10(22A) and the amendments to Section 10(23C). Stay informed to ensure compliance. Disclaimer: For informational purposes only.
