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Income Tax : Transporters can avoid TDS deduction by submitting a declaration confirming ownership of not more than ten goods vehicles. The key...
Income Tax : Highlights that selecting the incorrect portal tab can lead to data mismatches and filing errors. Emphasizes the need to use the c...
Income Tax : Explains how commission-driven incentives in banks lead to mis-selling of financial products. Highlights the need for structural r...
Income Tax : ITAT held that additions based solely on third-party search material without independent evidence or cross-examination are invalid...
Income Tax : A new digital framework is suggested to replace manual Form 121 processes and streamline TDS exemption declarations. The proposal ...
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 Supreme Court declined to condone delay, thereby upholding the High Court’s conclusion that the liaison office did not const...
Income Tax : The judgment confirms that income from offshore equipment supply is not taxable where transactions occur outside India. The liaiso...
Income Tax : The Tribunal held that lack of awareness of the assessment order and limited knowledge of tax law constituted sufficient cause for...
Income Tax : The Tribunal confirmed addition of unexplained investments where the assessee could not substantiate the source of deposits. The r...
Income Tax : The Tribunal held that wage arrears arising from pay revision constitute an accrued liability from the effective date. The provisi...
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 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.
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 notifies ” Govind Ballabh Pant Memorial Society, New Delhi “, for the purpose of the said section for and from the assessment year 1975-76.
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 notifies ” Sarada Ranganathan Endowment for Library Science, Bangalore “, for the purpose of the said section for and from the assessment year 1976-77.
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 notifies ” Greater Calcutta Leprosy Treatment & Health Education Scheme, Calcutta “, for the purpose of the said section.
