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Income Tax : The issue is frequent additions arising from poor handling of notices. It highlights that improper or incomplete responses lead to...
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 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 : The Supreme Court held that the Kerala Agricultural Income Tax Act does not allow an amalgamated company to claim losses of the am...
Income Tax : A three-day delay in filing an appeal was rejected by CIT(A), but the tribunal held that minor delays should not defeat justice. T...
Income Tax : The Tribunal held that reopening under Section 147 was invalid where it was based on third-party search material. It ruled that Se...
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 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 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 Shri Shamlaji Kshetra Trust, Shamlaji, for the purpose of the said section for and from the assessment year(s) 1972-73.
Ahmedabad Textile Industry’s Research Association where the above programme has been sponsored stands approved u/s. 10(2)(xiii) of the Indian Income-tax Act, 1922, by Notification No. 211, dated 10th April, 1948.
that the said Academy 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 this purpose, by 30th April, each year.
In exercise of the powers conferred by clause (ii) of sub-section (1) of section 80L of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies the 6 per cent 10 years Bonds, 1986–Second Series–issued by the Industrial Reconstruction Corporation of India Ltd., between the 1st November, 1976, and 3rd November, 1976, for the purposes of the said clause.
Circular: No. 216 -Income Tax I am directed to invite a reference to this Department’s Circular No. 199 [F. No. 275/62/76-ITJ], dated 25-6-1976 on the subject of deduction of income-tax from payments of income “by way of insurance commission” during the year 1976-77.
Circular : No. 215 -Income Tax I am to invite your attention to this Office Letter………..regarding deduction of income-tax and surcharge from interest on Government securities during the financial year 1976-77 According to the Finance (No. 2) Bill, 1977, except in the case of interest on securities payable to Life Insurance Corporation of India which is exempt from deduction of income-tax with effect from June 1, 1976,
Circular : No. 217 -Income Tax I am directed to invite a reference to this Department’s Circular No. 198 [F. No. 275/61/76-ITJ], dated 25-6-1976 on the subject of deduction of income-tax from lottery and crossword puzzle prizes during the financial year 1976-77. The Finance Bill, 1977, as introduced in the Parliament, prescribes the same rates for deduction of tax from lottery and crossword puzzle prizes during the
Circular No. 214-Income Tax In the case of every individual or Hindu undivided family or unregistered firm or other association of persons or body of individuals, whether incorporated or not, or every artificial juridical person referred to in sub-clause (vii ) of clause (31) of section 2 of the Income-tax Act, not being a case to which Sub-Paragraph II of this Paragraph or any other Paragraph of this Part applies
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 ” Hindu Satkar Samity, Calcutta “, for the purpose of the said section for and from the assessment year 1974-75.
Notification: S.O.1995Section(s) Referred: 10 ,10(23C) ,10(23C)(iv) Central Government hereby notifies Indian Council of Child Welfare, New Delhi , for the purpose of the said section for the assessment years 1976-77 and 1977-78.
