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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.2744 – Income Tax In continuation of this office Notification No. 2053 (F. No. 203/121/77-ITA. II) dated 26-11-1977. It is hereby notified for general information that the institution mentioned below has been approved by the Indian Council of Social Science Research, the prescribed authority for the purposes of clause (iii) of sub-section (1) of section 35 of the Income-tax Act
Notification No. S.O.2743 – Income Tax It is hereby notified for general information that the institution mentioned below has been approved by the Department of Science and Technology, New Delhi, the prescribed authority for the purpose 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 of ” association ” in the area of other natural and
Notification No. S.O.676(E) – Income Tax In pursuance of clause (b) of rule 6 Part A of the Fourth Schedule to the Income-tax Act, 1961 (43 of 1961), and in supersession of the notification of the Government of India in the Ministry of Finance (Department of Revenue) No. S.O. 615(E), dated the 27th October, 1978, the Central Government hereby fixes with immediate effect nine per cent. as the rate referred to in the said clause (b)
Circular No. 312 -Income Tax A large number of references have been received by the Board on the decision of the Income-tax Appellate Tribunal, Madras Bench, in the case of N.B. Tendolkar v. ITO [1980] 4 Taxman 129. In this decision the Tribunal has held that the amount received by an assessee on encashment of leave due to him is not taxable
Notification No. S.O.2846 – 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 Rama Sakti Mission for the purposes of the said section for the period covered by the assessment years 1979-80 to 1981-82
Circular No. 311-Income Tax Attention is invited to Board’s Circular, dated 2-3-1960 issued from F. No. 35/24/59-IT(A-I) on the above subject. A copy of this circular is enclosed for ready reference [printed here as Annex
Notification No. S.O.2742 – 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.2741 – Income Tax In continuation of this office Notification No. 2610 (F. No 203/124/78-ITA. II) dated 12-12-78, it is hereby notified for general information that the institution mentioned below has been approved by the Indian Council of Medical Research, 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
Notification No. S.O.2740 – 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.2739 – Income Tax In continuation of this office Notification No. 2739 (F. No. 203/197/78-ITA. II) dated 1-3-1979, it is hereby notified for general information that the institution mentioned below has been approved by the Indian Council of Agricultural Research, the prescribed
