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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 new law replaces the 1961 Act with a simplified, structured tax system. It reduces compliance burden through streamlined forms...
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 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 : The issue was whether telecom and O&M service receipts are taxable as royalty/FTS in India. The tribunal held they are business pr...
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.3659 – Income Tax It is hereby notified for general information that the institution mentioned below has been approved by the Secretary, Department of Science & Technology, 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(iv) of the Income-tax Rules, 1962, under the category of
Notification No. S.O.157- Income Tax It is hereby notified for general information that the institution mentioned below has been approved by the Department of Science & Technology, 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 of the Income-tax Rules, 1962, under the category ” Association
Notification No. S.O.3091 – Income Tax In exercise of the powers conferred by clause (v) of sub-section (23C) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies Shri Vedantha Desigar Devasthanam, Mylapore, Madras, for the purpose of the said section for the period covered by the assessment years 1979-80 to 1981-82
Notification No. S.O.2953 – 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 Harijan Sevak Sangh, Delhi, for the purpose of the said section for the period covered by the assessment years 1979-80 to 1981-82
Notification No. S.O.2952 – 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 India International Centre, New Delhi, for the purpose of the said section for the period covered by the assessment years 1982-83 to 1984-85
Circular No. 316 – Income Tax Attention is invited to Board’s Circular Letter No. 10/22/65-IT(A-I), dated 24-5-1965 [Annex] on the subject, wherein it was conveyed that expenditure on certain specified civil defence measures incurred by business concerns during emergency should be treated as revenue expenditure and allowed
Notification No. S.O.3288 – Income Tax In exercise of the powers conferred by sub-section (2)(b) of section 80G of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies Sri Jhamsingh Balaji Venkateshwarswamy Devasthanam, Gudimalkapur (Hyderabad) to be a place of public worship of renown throughout the State of Andhra Pradesh
Notification No. S.O.3287 – Income Tax In exercise of the powers conferred by sub-section (2)(b) of section 80G of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies Sri Gangadhareswarar Temple, Purasawalkam, Madras, to be a place of public worship of renown throughout the State of Tamil Nadu
Notification No. S.O.3286 – Income Tax In exercise of the powers conferred by clause (v) of sub-section (23C) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies Shree Santram Maharaj Mandir, Nadiad, for the purpose of the said section for the period covered by the assessment year 1981-82
Super Profits Tax Act, 1963 and Company’s (Profits) Sur-tax Act, 1964-Rule I of Second Schedule-Scope of- ‘Provision” and “Reserve’-Distinction- A sum of money transferred from current profits to general reserves- Dividend paid from that fund-General reserve how calculated.
