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Income Tax : The case demonstrates how an incorrect exemption claim based on Form 16 led to scrutiny and penalty proceedings. The Tribunal ulti...
Income Tax : This article explains the advance tax provisions under the Income-tax Act, including liability thresholds, exemptions, and instalm...
Income Tax : This article outlines major offences under the Income-tax Act that may result in prosecution, including tax evasion, non-payment o...
Income Tax : This article explains the statutory powers of the Principal Commissioner or Commissioner to waive or reduce penalties in genuine c...
Income Tax : Summary: The Income Tax Act, 2025 introduces a significant structural reform by relocating the exempt income provisions previousl...
Income Tax : The CBI apprehended an Income Tax Office Superintendent in Odisha after he was allegedly caught accepting a bribe for deleting a d...
Income Tax : The Income Tax Appellate Tribunal has proposed a priority disposal mechanism for appeals filed up to and including 2022 in respons...
Income Tax : A representation has urged CBDT to merge TDS return codes 1023 and 1024, arguing that both apply to the same contract payments wit...
Income Tax : Association requested CBDT to rationalize CASS 2026 case selection considering the administrative burden caused by implementation ...
Income Tax : KSCAA requested the CBDT to release e-filing utilities and schemas for AY 2026-27 without delay, stating that pending utilities ar...
Income Tax : The Delhi ITAT held that additions made on transactions unrelated to the reasons recorded for reopening were beyond the Assessing ...
Income Tax : The ITAT Chandigarh held that once registration under Section 12AB had been directed to be granted, the primary basis for rejectin...
Income Tax : The Delhi ITAT found that the Assessing Officer lacked legal authority to reopen assessment years lying outside the ten-year block...
Income Tax : ITAT Chennai restored the matter to the Assessing Officer after finding that the assessment and appellate proceedings were conclud...
Income Tax : ITAT Kolkata upheld the deletion of disallowance relating to brought forward losses of an amalgamating company after finding that ...
Income Tax : The CBDT has identified specific categories of taxpayers whose returns will be compulsorily selected for complete scrutiny during ...
Income Tax : The Ordinance exempts interest income and capital gains arising from Government securities for Foreign Institutional Investors and...
Income Tax : The Central Government has specified infrastructure sub-sectors from the Updated Harmonised Master List as eligible businesses und...
Income Tax : CBDT has granted scientific research approval under the Income-tax Act, 2025, enabling eligible donations to qualify for tax benef...
Income Tax : CBDT has granted scientific research approval under the Income-tax Act, 2025, allowing eligible donations to qualify for tax benef...
Circular No. 321-Income Tax The present procedure is that life insurance premium receipts which are produced by the assessees in support of their claim under section 80C are made a part of income-tax records. It has been suggested to the Board that policy-holders are frequently required by the LIC to show the original receipts towards proof of the payment of the premium.
Notification No. S.O.935-Income Tax 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 Maratha Mandir for the purpose of the said section for the period covered by the assessment years 1978-79 to 1981-82.
Notification No. S.O.653-Income Tax 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 Coimbatore Sree Ayyappa Seva Sangham for the purpose of the said section for the period covered by the assessment year 1981-82.
Notification No. S.O.652-Income Tax 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 Sri Velur Devasthanam, Thanjavoor, for the purpose of the said section for the period covered by the assessment years 1972-73 to 1981-82.
Notification No. S.O.743-Income Tax In continuation of this department’s notification No. 2822 (F. No. 203/72/79-ITA. II) dated 19-5-1979, it is hereby notified for general information that the institution mentioned below has been approved by the Indian Council of Medical Research, New Delhi, the prescribed authority for the purpose of clause (ii) of sub-section (1) of section 35 of the Income-tax Act, 1961
Circular No. 320-Income Tax A reference is invited to paragraph 15.1 to 15.7 of the Explanatory Notes on the provisions relating to direct taxes in the Finance Act, 1981 [Circular No. 308, dated 29-6-1981] which explain the scope and ambit of section 167A, as inserted by the Finance Act, 1981.
Circular No. 319-Income Tax A question has arisen whether regional rural banks (to which the provisions of the Regional Rural Banks Act, 1976, apply) can be treated as co-operative societies for the purpose of section 80P.
Circular No. 318-Income Tax Section 52 states that the Central Government may, on an application of the accountable person, accept in satisfaction of the whole or any part of such duty any property passing on the death of the deceased at such price as may be agreed upon between the Central Government and that person
Circular No. 318-Income Tax 1. The Special Bearer Bonds (Immunities and Exemptions) Ordinance, 1981 (‘the Ordinance’), was promulgated by the President on January 12, 1981. The Ordinance was replaced by the Special Bearer Bonds (Immunities and Exemptions) Act, 1981 (‘the Act’) which received the assent of the President on March 27, 1981. 2. The Bonds were placed on sale from February 2, 1981 in India and from February 9, 1981, abroad. The sale of Bonds was, however, suspended with effect from May 1, 1981.
Notification No. S.O.934 – Income Tax The Department of Revenue hereby amends its notification No. 3219 (F. No. 203/101/80-ITA. II), dated 20-3-1980, No. 3259 (F. No. 203/101/80-ITA. II), dated 25-4-1980 and No. 3291 (F. N. 203/101/80-ITA. II) dated 31-3-1981 as under
