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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 High Court held that once the assessee failed to explain the source, addition was justified only to the extent of cash actuall...
Income Tax : The Tribunal held that CIT(A) cannot sustain addition under Section 68 without issuing notice under Section 251(2). It also noted ...
Income Tax : ITAT Mumbai held delay and ex-parte orders cannot override justice. ₹64.8 lakh addition u/s 69 set aside; case remanded for fres...
Income Tax : ITAT condoned an 820-day delay due to a bona fide jurisdictional mistake. It held that SBN deposits from members cannot be treated...
Income Tax : The CIT(A) upheld additions without discussing merits or legal issues. The Tribunal ruled that a speaking order is mandatory and r...
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 sub-section (2)(b) of section 80G of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies Ammachivedu Moorthi Temple, Quilon, Kerala State, to be a place of public worship of renown throughout the State of Kerala for the purposes of the said section.
It is hereby notified for general information that the institution mentioned below has been approved by the Indian Council of Agricultural Research, the prescribed authority for the purposes of clause (ii) of sub-section (1) of section 35 of the Income-tax Act, 1961.
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.
That the Institute will furnish annual returns of its scientific research activities to the Council for each year by 31st May, each year at the latest in such form as may be laid down and intimated to them for this purpose.
That the Centre will furnish annual returns of its scientific research activities to the Council for each year by 31st May, each year at the latest in such form as may be laid down and intimated to them for this purpose.
This notification contains Amendments (Third Amendment) to Income-tax Rules carried out on 12th June, 1980 not reproduced here as it is already contained in the body of the rules itself.
That the said Fund will furnish the annual return of its scientific research activities to the prescribed authority for every financial year in such forms as may be laid down and intimated to them for the purpose, by 30th April, each year.
In exercise of the powers conferred by clause (iii) of Explanation to sub-clause (viia) of clause (6) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies the field of grading and evaluation of diamonds for diamond export or import trade for the purpose of the said sub-clause (viia).
Circular No. 273-Income Tax Charitable and religious trusts are entitled to exemption from income-tax under section 11 after they fulfill the requirements enumerated in sections 11 to 13. These trusts are allowed to accumulate or set apart income derived by them from property held under trust provided they fulfil the conditions spelt out in section 11(2) read with rule 11 of the Income-tax Rules and Form No. 10.
In pursuance of sub-clause (f) of clause (iii) of sub-section (3) of section 194A of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies Housing Development Finance Corporation Limited, Bombay, for the purposes of the said sub-clause.
