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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...
Circular : No. 106-Income Tax I am directed to forward a copy of draft circular letter setting out the rates at which income-tax and surcharge should be deducted from interest on Government securities on or after April 1, 1973. It is requested that a circular on the basis of this draft may be issued by you immediately to all Treasury Officers and Sub-Treasury Officers under your control, individually.
Circular : No. 107-Income Tax I am directed to invite a reference to this Ministry’s Circular No. 83 [F. No. 275/10/72-ITJ], dated 21-3-1972, on the subject of deduction of income-tax from salaries paid during the year 1972-73. The Finance Bill introduced in the Parliament on February 28, 1973, inter alia, prescribes the rates at which income-tax has to be deducted during the financial year 1973-74
Notification: S.O.994 Central Government hereby notifies Shri Kalamegaperumal Temple, Thirumohur, Madurai Distt., to be of historic, archaeological importance and to be a place of public worship of renown throughout the State of Tamil Nadu for the purposes of the said section
Notification: S.O.993 Central Government hereby notifies Shri Ananthapadmanabhaswamy Temple, Kasargod, Cannanore, to be of historic, archaeological and artistic importance and to be a place of public worship of renown throughout the State of Kerala for the purposes of the said section
Notification: 300 Central Government hereby notifies Shri Selva Vniayagar Temple, Madras, to be of historic importance and a place of public worship of renown throughout the State of Tamil Nadu for the purposes of the said section.
Circular : No. 105-Income Tax Prior to the amendment of section 184(7) by the Taxation Laws (Amendment) Act, 1970, a firm, which had been granted registration for any assessment year, could get the benefit of the registration for a subsequent year provided, inter alia, that the firm furnished along with the return of income a declaration in Form No. 12.
Notification: S.O.1053 Sri Satya Sai Institute of Research, Bombay 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,
In exercise of the powers conferred by sub-section (2)(b) of section 80G of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies Sri Sivasailanathaswamy Temple, Sivasailam, Tirunelveli District, to be a place of public worship of renown throughout the State of Tamil Nadu and also the neighbouring States f
Circular : No. 104-Income Tax On the basis of the decision of the Gujarat High Court in the case of Dayalbhai Madhavji Vadera v. CIT [1966] 60 ITR 551, the Board had issued instructions that if the share of the wife in a firm in which the assessee is a partner is a loss, such loss is not to be considered in the assessment of the husband under section 16(3) of the 1922 Act [corresponding to section 64(1) of the 1961 Act].
Circular : No. 103-Income Tax Under sub-section (7)(d ) of section 2 of the Finance Act, 1966, an “industrial company” means a company which is mainly engaged in the business of generation or distribution of electricity or any other form of power or in the construction of ships or in the manufacture or processing of goods or in mining.
