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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 : Bombay High Court held that application for NIL withholding tax certificate rightly rejected since matter of taxability of fees fo...
Income Tax : ITAT held that reassessment beyond three years requires approval from the higher authority, not PCIT. Since approval was wrongly o...
Income Tax : The Tribunal found that once additions under Sections 68 and 69C were deleted, penalty became infructuous. The ruling highlights t...
Income Tax : Madras High Court held that capital profit on the sale of the Fixed Assets of the Company cannot be taken directly to the Reserves...
Income Tax : The Tribunal held that deposit in the capital gains scheme is not required if the entire amount is invested before filing the retu...
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...
A major research programme like research in medical education cannot be completed within a short duration of time. Therefore, it is very difficult to say what will be the exact duration of this research programme. It will be of a continuous nature. However, it is expected that the major research programme in medical education will be ready for assessment in less than ten years.
Circular No. 276-Income Tax I am directed to invite a reference to this Department’s Circular No. 270 [F. No. 275/17/80-IT(B)], dated 26-5-1980, wherein you were requested to issue necessary instructions for continuing to make deduction of income-tax at source from “winnings from lottery or crossword puzzle” at the same rates as were given in Part II of the First Schedule to the Finance Act, 1979.
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 Hajrat Pirmohmed Shah Durgah Sharif Trust, Ahmedabad, for the purpose of the said section for the assessment years 1973-74 to 1980-81.
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 St. Francis Xavier Mission, Dudhni, for the purpose of the said section for the assessment years 1978-79, 1979-80 and 1980-81.
Notification: S.O.2932Section(s) Referred: 10 ,10(23C) ,10(23C)(iv) Central Government hereby notifies Greater Visakha Leprosy Treatment and Health Education Scheme for the purpose of the said section for the assessment years 1975-76 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 Sri Sathya Sai Central Trust, Bombay, for the purpose of the said section for the assessment years 1977-78 to 1980-81.
Circular No. 275-Income Tax I am directed to invite a reference to this Department’s Circular No. 267 [F.No. 275/13/80-IT(B)], dated 24-4-1980 [Clarification 2], wherein you were requested to issue instructions for deduction of income-tax at source from “interest on Government securities” at the same rates as were given in Part III of the First Schedule to the Finance Act, 1979.
That the Association will furnish an annual audited statement of accounts to the Council for each year by 31st May each year and in addition send a copy of it to the concerned Income-tax Commissioner.
That the Society will furnish an annual audited statement of accounts to the Council for each year by 31st May each year and in addition send a copy of it to the concerned Income-tax Commissioner.
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 Muslim Orphanage Committee, Tirunelveli, for the purpose of the said section for the assessment years 1973-74 to 1980-81.
