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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.1162 It is hereby notified for general information mentioned below has been approved by the Indian Council of Social Science Research, New Delhi, 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 fulfilment of the follo
Notification: S.O.1161 i) That the Centre for the Study of Developing Societies, Delhi, shall maintain separate accounts of the funds collected by the under the exemption. (ii) That such
Notification: S.O.172 It is hereby notified for general information that the approval given under section 35(1)(ii) of the Income-tax Act, 1961, to B. Y. L. Nair Hospital and T. N. Medical College Research Society, Bombay, by notification No. 149 (F. No. 10/57/67-ITA. I) dated 6th November, 1967, is withdrawn with effect from 31st January, 1976, on the recommendation of the prescribed authority, the Indian Council of Medical Research, New Delhi
Circular : No. 189 -Income Tax Reference is invited to the Board’s Letter F. No. 10/49/65-IT(A-I),-dated14-10-1965 [see Sl. No. 266] which, inter alia explained the position regarding the creation of statutory reserve for allowance of development rebate as follows
Notification: S.O.1020 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, 1985–Third Series—issued by the Industrial Reconstruction Corporation of India Ltd. b
Notification: S.O.1017 Indian Institute of Foreign Trade, New Delhi. This notification will be effective from 1st April, 1975
Notification: S.O.964 It is hereby notified for general information that the institution mentioned below has been approved by Secretary, Department of Science & Technology,
Notification: S.O.963 It is hereby notified for general information that the institution mentioned below has been approved by Secretary, Department of Science & Technology, the
Notification: S.O.4565 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, for research purposes only. The
Having reviewed the role of Inspector in the present day set-up of the Department the Board have compiled a new list of duties and functions of Inspector which is enclosed herewith. You are requested to see that Inspectors in your charge are assigned duties and functions strictly in accordance with this list. This instruction contained in the Inspector’s Manual and various circulars/ instruction of the Board issued up-to-date may be considered to have been modified accordingly.
