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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...
Notification: S.O.2400 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 Sri Audikesava Perumal Sri Bashya-Karaswami Temple, Sriperumbudur to be a place of public worship of renown throughout the State of Tamil Nadu for the purposes of the said section. [No. 2349 (F. No. 176/50/78–ITA–I)
Notification: S.O.2469 In exercise of the powers confered by sub-section (2)(b) of section 80G of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies Sree Vellat Puthur Kshethra Samrakshana Samithi, Perintamanna to be a place of public worship of renown throughout the State of Kerala for the purposes of the said section.
Notification: S.O.2468 Central Government hereby notifies Arulmigu Sakthi Vinayagar Temple, Chingleput for the purpose of the said section for and from the assessment year(s) 1976-77.
Circular No. 242-Income Tax I am directed to invite a reference to this Ministry’s Circular No. 225 [F. No. 275/13/77-IT(B)], dated 30-6-1977. The Finance Act, 1978, inter alia, prescribes the rates at which income-tax is to be deducted during the financial year 1978-79 from income chargeable under the head “Salaries”.
Notification: S.O.2129 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 Cathedral Church of the Redemption, New Delhi” for the purpose of the said section for and from
Notification: S.O.1982 Central Government hereby notifies Rashtrotthana Parishat, Bangalore, for the purpose of the said section for and from the assessment year(s) 1973-74.
Circular : No. 241-Income Tax Under the new section 194BB, every person being a book-maker or a person to whom a licence has been granted by the Government under any law in force for horse racing in any race course or for arranging for wagering or betting in any race course, who is responsible for paying any income by way of winnings from any horse race in an amount exceeding Rs. 2,500 is required to
Notification: S.O.2467 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 Sansthan Sri Deo Ganpatipule to be a place of public worship of renown throughout the State of Maharashtra for the purposes of the said section. [No. 2328/F. No. 176/42/78–IT(AI)
Notification: S.O.1981 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 amends its notification No. 2234 dated 29-3-1978 as below :—
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.
