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Income Tax : The new law introduces audit requirements for businesses declaring profits below presumptive rates. It removes the earlier flexibi...
Income Tax : Learn the key technical and operational hurdles in TDS/TCS compliance, including FVU errors and defaults. The article highlights p...
Income Tax : The new tax regime shifts loan approval to verified financial data like ITR and GST. Clean records now determine eligibility inste...
Income Tax : The issue is whether high-income earners can reduce tax liability under the old regime. The analysis shows that structured allowan...
Income Tax : The ruling clarifies that unverified excel sheets seized from third parties cannot justify additions without corroborative evidenc...
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 : A representation seeks doubling the SMC threshold due to inflation and higher dispute values. The key takeaway is that increasing ...
Income Tax : The tribunal permitted set-off of interest paid against interest earned, finding both were intrinsically linked to business activi...
Income Tax : The Tribunal examined whether reassessment notices issued by a jurisdictional officer instead of a faceless authority were valid. ...
Income Tax : The Tribunal held reassessment invalid as the alleged escaped income did not exceed ₹50 lakh required for extended limitation. I...
Income Tax : The issue was estimation of commission income from alleged accommodation entries. The tribunal held that addition should be restri...
Income Tax : The issue was whether donation to a political party qualified for deduction under Section 80GGC. The tribunal held the claim was n...
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...
Income Tax : CBDT corrected multiple clerical and structural errors across income tax return schedules. The changes ensure accurate reporting a...
Notification No. S.O.933 – Income Tax It is hereby notified for general information that the institution mentioned below has been approved by the Indian Council of Medical Research, New Delhi, the prescribed authority for the purposes of clause (ii) of sub-section (1) of section 35 of the Income-tax Act, 1961, read with rule 6(ii) of the Income-tax Rules, 1962, under the category of ” scientific research association
Notification No. S.O.932 – Income Tax It is hereby notified for general information that the institution mentioned below has been approved by the Indian Council of Medical Research, New Delhi, the prescribed authority for the purposes of clause (ii) of sub-section (1) of section 35 of the Income-tax Act, 1961, read with rule 6(ii) of the Income-tax Rules, 1962, under the category of ” scientific research association
Notification No. S.O.931 – Income Tax In continuation of this office Notification No. 2700 (F. No. 203/9/79-ITA-II) dated 31-1-1979, it is hereby notified for general information that the institution mentioned below has been approved by the Indian Council of Agricultural Research, the prescribed authority for the purposes of clause (ii) of sub-section (1) of section 35 of the Income-tax Act, 1961, for a further period of three years w.e.f. 26-12-79
Notification No. S.O.63 – Income Tax 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 Sri Sathya Sai Central Trust, Bombay, for the purpose of the said section for the period covered by
Notification No. S.O.62 – Income Tax 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 Federation of Indian Export Organisations, for the purpose of the said section for the period covered by the assessment years 1980-81 to 1982-83
Notification No. S.O.61- Income Tax 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 Sabarmati Ashram Preservation and Memorial Trust, Ahmedabad, for the purpose of the said section for the period covered by the assessment years 1979-80 to 1981-82
Circular No. 317 -Income Tax Under section 13(1)(d ) any charitable or religious trust/institution can claim exemption under section 11 for and from any assessment year relevant to a previous year beginning on or after April 1, 1981, only if the assets of the trust/institution are invested in the manner prescribed in section 13(5)
Notification No. S.O.60 – Income Tax 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 All India Federation for Sports and Rehabilitation of Paraplegics, for the purpose of the said section for the period covered by the assessment years 1978-79 to 1981-82
Notification No. S.O.59 – Income Tax 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 Jallianwala Bagh National Memorial Trust, for the purpose of the said section for the period covered by the assessment years 1980-81 to 1982-83
Notification No. S.O.742 – Income Tax In continuation of this Department’s Notification No. 2617 (F. No. 203/174/78-ITA-II) dated 22-12-1978, it is hereby notified for general information that the following scientific research programme has been approved for the period specified below for the purposes of sub-section (2A) of section 35 of the Income-tax Act, 1961, read with rule 6(iv) of the Income-tax Rules, 1962
