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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 article explains how IRS audits are initiated and conducted to verify tax return accuracy. It highlights taxpayer duties, righ...
Income Tax : Transporters can avoid TDS deduction by submitting a declaration confirming ownership of not more than ten goods vehicles. The key...
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 noted that statements relied upon were later retracted and lacked corroboration. It held that such statements cannot ...
Income Tax : The issue was whether reassessment initiated by a non-jurisdictional AO is valid. The tribunal held that proceedings are void ab i...
Income Tax : The Tribunal noted that loans were part of regular business transactions with repayments in the same year. It held that such condu...
Income Tax : The issue was whether entire purchases can be disallowed as bogus under Section 69C. The tribunal held that when sales are accepte...
Income Tax : Consistency over technicalities: ITAT Mumbai allowed actuarial pension provision as an ascertained liability, rejected mechanical ...
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.1796 – 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 Dohnavur Fellowship, Dohnavur, Tirunelveli District, Tamil Nadu for the purpose of the said section for the assessment year 1981-82.
Circular No. 298-Income Tax I am directed to invite a reference to this Ministry’s Circular No. 278 [F. No. 275/12/80-IT(B)], dated 26-8-1980 wherein the rates at which income-tax deduction during the financial year 1980-81, from the payments of income chargeable under the head “Salaries” under section 192, were intimated
Circular No. 297-Income Tax Reference is invited to Board’s Circular No. 296, dated 31-3-1981 by which the Commissioners were asked to direct the ITOs to send two copies of return forms, etc., to the assessees existing on the register of the Department by ordinary post. This direction is modified to the extent that return forms etc., should be sent only to those assessees whose income according to the latest return/assessment on
Notification No. S.O.1795 – 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 Sanjay Gandhi Memorial Trust for the purpose of the said section for period covered by the assessment years 1982-83 to 1983-84.
Notification No. S.O.1716 – 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
Notification No. S.O.1794 – 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 The Mill Owners’ Association Relief Fund Society for the purpose of the said section for the assessment years 1978-79 to 1981-82
Notification No. S.O.1715 – Income Tax In continuation of this Department’s notification No. 2179 (F. No. 203/15/78-ITA. II), dated 21st February, 1978, 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
Circular No. 296-Income Tax With a view to enabling the tax-payers existing on the registers of the Income-tax Department to file the return of income in time and to avoid inconvenience in approaching the Income-tax Offices for getting the return forms, it has been decided by the Board that from the financial year 1981-82, 2 copies of blank income-tax return forms will be despatched by the concerned Income-tax
Notification No. S.O.2722 – Income Tax The Department of Revenue hereby amend the Notification No. 2055 (F. No. 203/145/77-ITA.II) dated 26-11-1977 as under
Notification No. S.O.1714 – Income Tax 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, by the Secretary, Department of Science & Technology, New Delhi
