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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...
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 Vignana Mandir, Kurnool, for the purpose of the said section for the assessment year(s) 1979-80 and 1980-81.
In exercise of the powers conferred by section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely
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 Kurukshetra Development Board for the purpose of the said section for the assessment year(s) 1981-82 and 1982-83.
Circular No. 278-Income Tax I am directed to invite a reference to this Ministry’s Circular No. 266 [F. No. 275/12/80-IT(B)], dated 24-4-1980, wherein it was intimated that the deduction of income-tax at the same rates as were applicable during the financial year 1979-80 may continue to be made during the financial year 1980-81 from the payments of income chrgeable under the head “Salaries” under section 192.
That the Centre for Regional Ecological and Science Studies in Development Alternatives, Calcutta, will maintain a separate account of the sums received by it for scientific research in the field of natural and applied sciences other than agriculture/animal husbandry/fisheries and medicines.
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.
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 NAB Lions Home for aging Blind for the purpose of the said section for the assessment year(s) 1976-77 to 1980-81.
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 Rajasthan Go-Seva Sangh, Jaipur, for the purpose of the said section for the assessment year(s) 1977-78 to 1980-81.
That the Indian Economic Association 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.
Hyderabad Science Society, Hyderabad, stands approved under section 35(1)(ii) of the Income-tax Act, 1961, vide Ministry of Finance, Dept. of Revenue, Notification No. 2933 (F. No. 203/38/79-ITA. II) dated 16-7-1979.
