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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...
That the Kishore Bharati shall send an annual report and audited statement of accounts, regularly to the Indian Council of Social Science Research, New Delhi, showing the funds collected under this exemption and the manner in which these funds are utilised.
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 The Roman Catholic Diocese of Calicut for the purpose of the said section for the assessment year(s) 1980-81 and 1981-82.
Circular No. 283-Income Tax I am directed to invite your attention to the Board’s Circular No. 278 [F. No. 275/12/80-IT(B)], dated 26-8-1980 regarding deduction of income-tax from salaries during the financial year 1980-81.
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 Arulmigu Kapaleeswarar Temple, Mylapore, Madras, to be a place of public worship of renown throughout the State of Tamil Nadu for the purpose of the said section.
That the People’s Institute for Development and Training shall send an annual report and statement of accounts regularly to the Indian Council of Social Science Research as well as to the concerned Commissioner of Income-tax, showing the funds collected under this exemption and the manner in which these funds are utilized.
Circular No. 281-Income Tax The rates of income-tax for the assessment year 1980-81 in the case of all categories of assessees (corporate as well as non-corporate) are specified in Part I of the First Schedule to the Finance Act. These rates are the same as those specified in Part III of the First Schedule to the Finance Act, 1979 for the purposes of computation of �advance tax�, deduction of tax at source
Circular : No. 282-Income Tax Section 44D, which was inserted with effect from June 1, 1976 by the Finance Act, 1976, provides that the deductions admissible in computing the income of a foreign company by way of royalty or fees for technical services received in pursuance of agreements made before April 1, 1976 shall not exceed 20 per cent of the gross amount
Circular: No. 280-Income Tax Section 194BB enjoins on any person, being a book-maker or a person to whom a licence has been granted by the Government under any law for the time being in force for horse racing in any race course and who is responsible for paying to any person any income by way of winnings from any horse race in an amount exceeding Rs. 2,500, to deduct income-tax thereon, at the rates in force, at the time of payment thereof.
In exercise of the powers conferred by sub-clause (ii) of clause (a) of sub-section (1) of section 138 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies, for the purposes of the said sub-clause, every officer of or above the rank of a Superintendent of Police serving in the Vigilance Bureau created by the Punjab Government under Notification No. 7823-3H-68/7966 dated 12-8-1968 read with Order No. 4019-V(2)-72 dated 14-8-1972 of the Government of Punjab.
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 Little Sisters of the Poor, Madras for the purpose of the said section for the assessment years 1978-79 to 1980-81.
