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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.938 has been approved by the Council of Scientific and Industrial Research, the prescribed authority for purposes of clause (ii) of sub-section (1) of section 35 of the Income-tax Act, 1961.
The appellants are the Additional Income-tax Officer and the Commissioner of Income-tax (the revenue); and the respondent, Ponkunnam Traders, a firm, is the assessee. The judgment under appeal is reported as Ponkunnam Traders v. Addl. Income-tax Officer, Kottayam, [1972] 83 ITR 508 (Ker). Since the question involved is fairly simple,
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 Thiruvateeswar Temple, Triplicane, Madras-5, 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.785 The Indian Institute of Management, Calcutta has been approved by the Council of Scientific and Industrial Research, the prescribed authority for the purposes of clause (ii) of sub-section (1) of section 35 of the Income-tax Act, 1961.
Circular No. 102-Income Tax A question has arisen as to whether in the event of death of one of the joint holders of the 12-Year National Plan Savings Certificates, exemption under section 10(15)( ii) would be admissible only in respect of the maximum amount admissible to an individual holder singly or the exemption as available to the joint holders will continue to be available to the surviving joint holder.
Notification: S.O.700 Maharashtra Economic Development Council 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, for three years with effect from 1st April, 1972.
Notification: S.O.609 Institution Saurashtra University, Rajkot has been approved by the Council of Scientific and Industrial Research, the prescribed authority for the purposes of clause (ii) of sub-section (1) of section 35 of the Income-tax Act, 1961.
If two reasonable constructions of a taxing provision are possible that construction which favours the assessee must be adopted. This is a well ‘accepted rule of construction recognised by this Court in several of its decisions.
Notification: S.O.608 Bombay University has been approved by the Council of Scientific and Industrial Research, the prescribed authority for the purposes of clause (ii) 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 Shri Mahalasa Narayani Temple, Verna, Goa, to be a place of public worship of renown throughout the State of Mysore for the purposes of the said section
