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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.4029 Central Government hereby notifies Sri Adhi Jagannatha Perumal Temple, Tiruppullani, Ramanathapuram 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: 164 entral Government hereby notifies Sri Adhi Jagannatha Perumal Temple, Tiruppullani, Ramanathapuram 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.
It is hereby notified for general information that the institution mentioned below has been approved by the Council of Scientific and Industrial Research, New Delhi, the prescribed authority for the purposes of clause (ii) of sub-section (1) of section 35 of the Income-tax Act, 1961 (43 of 1961).
Notification: S.O.3379 Nanavati Hospital Medical Research Centre, Bombay 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.
Circular No. 77-Income Tax Under section 59 of the Finance Act, 1983, the balance standing to the credit of a depositor under the Compulsory Deposit Scheme (Income-tax Payers) Act, 1974, who attained the age of 65 years before April 1, 1983, is refundable at his option on June 1, 1983. The Ministry of Finance have advised the Reserve Bank of India to instruct the banks to make the refunds wherever preferred. In respect of
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 Shree Trimbakeshwar Temple, Trimbak, Distt. Nasik, as of historic and archaeological importance and a place of public worship of renown throughout Maharashtra State and outsid
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 Ram Temple, Chaphal, Distt. Satara (Maharashtra) to be historic importance and a place of public worship of renown throughout the Maharashtra State for the purposes of the said section.
Circular No. 90-Income Tax With the issue of orders in the Government of India, Ministry of Finance (Department of Expenditure), O.M. No. F. 1(34) E-II(B)/68, dated 18-1-1969, “dearness pay” is considered as “pay” for purposes of pension and gratuity and compensatory allowance (including house rent allowance, etc.) in the case of Central Government servants. It is, therefore, clarified that for the purposes of calculating the house rent allowance that would be exempt under rule 2A, the term “salary” includes “dearness pay” also. Where State Government servants are being paid “dearness pay” as in the case of Central Government employee, the clarification given above will apply.
Circular No. 89-Income Tax The Bombay Bench of the Income-tax Appellate Tribunal in their order, dated 29-12-1971 in the case of D.R. Pathak v. ITO held that the “city compensatory allowance” granted to a Government servant is exempt under section 10(14)/16(v). On legal advice received, the Tribunal’s decision has not been accepted by the Income-tax Department and it has challenged in appeal. Till a judicial verdict is
Circular No. 87-Income Tax I am directed to invite a reference to the Board’s Circular No. 71 [F.No. 245/25/ 71-A & PAC], dated 26-3-1972 and to say that the CBDT have passed a revised order of date in supersession of their earlier order dated 28-2-1972, a copy of which was sent with the Board’s above-noted Circular dated 26-3-1972. A copy of this revised order is attached herewith. This may be brought
