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Income Tax : Establishes that higher tax burdens on promoters under the new regime require companies to reassess payout strategies. The takeawa...
Income Tax : Clarifies that revision under sections 264 and 378 is a taxpayer-friendly remedy where authorities cannot pass orders prejudicial ...
Income Tax : Clarifies that revision under both old and new tax laws requires proof of error and revenue prejudice. Mere disagreement with the ...
Income Tax : The issue addressed is fragmented and complex compliance for NPOs under earlier law. The new Act consolidates provisions and intro...
Income Tax : The issue was whether machinery replacement qualifies as current repairs. The Court held that replacement creating enduring benefi...
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 : CBDT signed a record number of APAs to provide clarity on transfer pricing and reduce disputes. The framework ensures advance dete...
Income Tax : Transfer of passive infrastructure (PI) assets under a court-approved scheme of demerger without consideration qualified as a gift...
Income Tax : The Tribunal held that a development agreement granting only a limited license for construction does not constitute transfer under...
Income Tax : The Tribunal held that loan repayment cannot be treated as unexplained cash credit under section 68. The addition was deleted as i...
Income Tax : The Tribunal held that penalty under section 271(1)(c) cannot be sustained when identical facts in earlier years led to deletion. ...
Income Tax : The Court held that input tax credit cannot be restricted to the month of invoice when business practices require later accounting...
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...
Income Tax : The corrigendum fixes an incorrect aggregation formula in Schedule CG and wrong cross-references in Schedule UD. It ensures accura...
In pursuance of section 80R of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies, for the purposes of the said section, the associations and bodies established outside India as specified in the Schedule annexed hereto. SCHEDULE
In continuation of this Department’s Notification No. 1164, dated 15th December, 1975 (No. 203/31/75-ITA II) 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
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. Institution
Stay informed about Income Tax updates. Notification (S.O.1207) issued under Section 35(1)(ii). Approved institutions for scientific research. Effective from 1st July 1977.
i) The institution will maintain a separate account of the sums received by it for scientific research in the field of medical research. (ii) The institution will furnish annual returns of its scientific research activities to the council for each financial year by 15th May, each year at the latest, in such form as may be laid down and intimated to them for this purpose.
The Indian Institute of Research in Yoga and Allied Sciences, Tirupati. This notification is effective for a period of two y
Notification: S.O.693 Central Government hereby notifies Sri Mahalakshmi Trust, Madras for the purpose of the said section for and from the assessment year(s) 1973-74.
Notification: S.O.692 Central Government hereby notifies Congregation of Christian Brothers in India for the purpose of the said section for and from the assessment year(s) 1978-79
Notification: S.O.24(E) Date of Issue: 18/1/1978 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 :—
It is hereby notified for general information that the institution mentioned below has been approved by the Indian Council of Social Science Research, the prescribed authority for the purposes of clause (iii) of sub-section (1) of section 35 of the Income-tax Act, 1961, subject to the following conditions :—
