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Income Tax : Key mistakes taxpayers should avoid when choosing between old and new tax regimes for FY 2026-27, including deductions, deadlines,...
Income Tax : ITAT Kolkata remands case on disallowance of subcontractor expenses, stressing need for evidence, due diligence, and verification ...
Income Tax : The new law introduces a structured framework for NPO registration, income application, and taxation. It simplifies compliance but...
Income Tax : Form 41 is now compulsory for non-residents claiming DTAA benefits, replacing Form 10F. The update mandates online filing and ensu...
Income Tax : Notices are increasingly triggered by AIS/TIS mismatches and automated systems. Accurate reporting and reconciliation are key to a...
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 government replaced the six-decade-old law with the Income-tax Act, 2025. The reform aims to simplify compliance through clear...
Income Tax : The issue was whether a reassessment notice issued by a jurisdictional officer instead of a faceless officer is valid. The Court h...
Income Tax : The Tribunal held that addition under Section 41(1) cannot be made without proof of actual cessation of liability. It found that m...
Income Tax : The Tribunal ruled that surrender of tenancy rights occurs only upon receiving new property possession. As possession was given la...
Income Tax : The issue involved taxing capital gains from a development agreement in multiple years. The court held the same income cannot be t...
Income Tax : The Tribunal held that enhancement of income without issuing notice under section 251(2) is invalid. Such action violates principl...
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...
The Department of Revenue hereby amends the notifications No. 2451 (F. No. 203/36/ 77–ITA. II) dated 2nd August, 1978, as under : This notification contains Amendment to Income-tax Act, 1961 carried out on September 21, 1978 not reproduced here as it is already contained in the body of the act itself
Notification: S.O.3416 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. Name of the scientific research Preparation of Guargum Derivatives and programme : their evaluati
Circular No. 246-Income Tax The Board has been receiving numerous references from individual assessees and medical practitioners seeking clarification regarding the scope of deduction under section 80U.
Notification No. S.O.3414 That the Ganesh Scientific Research Foundation, New Delhi, will maintain a separate account of the sums received by it for scientific research in the field of natural or applied sciences (other than agriculture/animal husbandry/fisheries & medicines)
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 Sri Prathasarathy Perumal Temple, Parthappalli, for the purpose of the said section for and from the assessment year(s) 1977-78. [No. 2534 (F. No. 197/26/78–IT (AI)
Notification: S.O.3415 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.
Circular No.245 – Income Tax The Amending Act has inserted a new section 13A in Chapter III which provides that the following categories of income derived by a political party will not be included in computing its total income
Notification No. S.O.3413 It is hereby notified for general information that the institution mentioned below has been approved by the Indian Council of Medical Research, 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(ii) of the Income-tax Rules, 1962, under the category of ” scientific research association ” in the field of medical research, subject to the following conditions
Notification No. S.O.3412 Name of the scientific research Yarn faults : Causes for occurrence and programme: their influence on weaving performance and fabric quality. Name of the sponsors : New Shorrock Mills Nadiad ; Ashoka Mills, Ahmedabad ; Khatau Mills Bombay ; Rajasthan Spg. & Wvg. Mills, Bhilwara ; Arunoday Mills, Morbi.
Notification No. S.O.3411 That the Parkhe Research Institute, Poona, will maintain a separate account of the sums received by it for scientific research in the field of natural or applied sciences (other than agriculture/animal husbandry/fisheries & medicines)
