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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 34 -Income Tax The Board had occasion to deal with several representations from various chambers of commerce, trade associations and businessmen regarding the scope of provisions of section 40A(3) and rule 6DD. Since many of the points raised therein are of an important nature, the clarifications given thereon are summarised below
Notification: S.O.828 In pursance of sub-clause (f) of clause (iii) of sub-section (3) of section 194A of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notify the District, Taluka, Nagar
Notification: S.O.719 In exercise of the powers conferred by section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962 namely :– This Notification contains Amendments to Indian Income-tax (Second Amendment) Rules, 1970 carried out on 23rd February, 1970 not reproduced here as it is already contained in the body of the Rules itself
In pursuance of clause (d) of section 280Y of the Income-tax Act, 1961 (43 of 1961), of the Central Government hereby makes the following amendment in the notification of the Govern
In exercise of the powers conferred by sub-section (5) of section 255 of the Income-tax Act, 1961 (43 of 1961), the Appellate Tribunal hereby makes the following rules further to amend the Income-tax (Appellate Tribunal) Rules, 1963.
Notification: S.O.737 International College of Surgeons, Indian Section, 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 (43 of 1961) :
In pursuance of clause (i) of sub-section (2) of section 80D of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies “Occupational Therapy Home for Children, Karol Bagh, Ne
Notification: S.O.152 This notification contains Amendment to Income-tax Rules carried out on 9-1-1970 not reproduced here as it is already contained in the body of the Income-tax Rules itself
Circular No. 33-Income Tax Section 40A(3) requires that if any payment in a sum exceeding Rs. 2,500 in respect of an expenditure incurred after March 31, 1969 is made otherwise than by a crossed cheque drawn on a bank or by a crossed bank draft, such expenditure shall not be allowed as a deduction.
In exercise of the powers conferred by section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely.
