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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 : The article examines whether Section 58(3) of the Income-tax Act, 2025 makes tax audit compulsory whenever profits fall below 6%, ...
Income Tax : Learn when senior citizens must file an Income Tax Return, who qualifies for the age-75 exemption, and how Form 125 works. The gui...
Income Tax : Summary: The article provides a practical guide for Non-Resident Indians (NRIs) on Indian income tax compliance, emphasizing that...
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 : The Tribunal ruled that BSNL VRS-2019 compensation qualifies for complete exemption under Section 10(10B) despite the assessee not...
Income Tax : The Calcutta High Court dismissed the Revenues appeal after holding that the CIT(A) and ITAT had thoroughly examined the lenders' ...
Income Tax : The Tribunal held that the Assessing Officer exceeded the scope of limited scrutiny by treating capital gains as business income w...
Income Tax : The ITAT Delhi held that a notice under Section 143(2) issued by an Assessing Officer lacking jurisdiction cannot confer valid aut...
Income Tax : The ITAT held that a scrutiny assessment cannot survive where the jurisdictional Assessing Officer failed to issue the mandatory n...
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.57(E)-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 the 10-year 9 per cent. (Tax-free) Secured Redeemable Non-Convertible Railway Bonds (Sixth “B” Series) of Rs. 1,000 each, issued by the Indian Railway Finance Corporation Limited, New Delhi, for the purpose of the said item
Notification No. S.O.869 -Income Tax 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 Dakshineswar Ramakrishna Sangha, Adyapeeth, Dakshineswar, Calcutta, for the purpose of the said sub-clause for the assessment years 1992-93 to 1994-95 subject to the following conditions
Notification No. S.O.20(E)-Income Tax In exercise of then powers conferred by clause (23D) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies Canbank (Offshore) Mutual Fund set up by Canara Bank, being a corresponding new bank under column 2 of the First Schedule to the Banking Companies
Notification No. S.O.15(E)-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 7-year 13 per cent. (taxable) Secured Redeemable Non-Convertible (‘A’ Series) Bonds, issued by the HMT Limited, Bangalore, for the purpose of the said clause
Notification No. S.O.11(E)-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 7-year 13 per cent. (Taxable) Secured Redeemable Non-Convertible (Series MB-I) Bonds, issued by the Tourism Finance Corporation of India Limited
Circular No. 623-Income tax Under section 10(10A )(i) of the Income-tax Act, 1961 any payment in commutation of pension received, inter alia, under the Civil Pension (Commutation) Rules of the Central Government, shall not be included while computing the total income of the recipien
Circular No. 622-Income Tax The second proviso to section 32(1)(ii) of the Income-tax Act, 1961, which disallows depreciation on foreign motor cars, is reproduced below
Notification No.S.O.921(E) – 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 the 10 year 9 per cent. (tax-free) Secured Redeemable Non-Convertible (Series-I) Energy Bonds, issued by the Indian Renewable Energy Development Agency Limited, for the purpose of the said item
Circular No.621 – Income Tax In respect of incomes of all categories of taxpayers (corporate as well as non-corporate) liable to tax for the assessment year 1991-92, the rates of income-tax (including surcharge) have been specified in Part I of the First Schedule to the Act and are the same as those laid down in Part III of the First Schedule to the Finance Act, 1990 as modified by the Taxation Laws (Amendment) Act, 1991
Circular No. 620-Income tax Attention is invited to the Board’s Circular No. 565, dated 11-7-1990 regarding collection of income-tax at source under section 206C of the Income-tax Act, in respect of profits and gains from the business of trading in alcoholic liquor, forest produce, etc. and filing of half-yearly returns in this regard.
