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Income Tax : An analysis of capital and revenue receipts under tax law, explaining classification, taxability, judicial tests, and key practica...
Income Tax : Avoid common AY 2026-27 ITR filing errors, including deadline confusion, capital gains mistakes, AIS mismatches, and missed e-veri...
Income Tax : The Tribunal held that CIT(A) cannot enhance income under Section 251 on matters not considered by the Assessing Officer during as...
Income Tax : A comprehensive guide explaining taxation of house property income, annual value computation, deemed ownership, and deductions und...
Income Tax : A detailed guide explaining appellate procedures, drafting of grounds of appeal, and preparation of Statement of Facts under Incom...
Income Tax : The updated TDS challan system reportedly displays incorrect interest-related options under the Company Deductee category. Taxpaye...
Income Tax : The data shows a steady increase in net direct tax collections driven by higher corporate and non-corporate tax revenues. It highl...
Income Tax : The issue highlights delays caused by non-binding timelines in appellate proceedings. It proposes mandatory limits to ensure faste...
Income Tax : The issue was complexity in the existing tax law. It was clarified that the new Act simplifies structure by reducing sections and ...
Income Tax : The tax department clarified that no search or restriction was carried out against the individual. It termed the allegations basel...
Income Tax : ITAT Delhi upheld deletion of disallowance under Section 40A(3) after finding that payments were made to multiple labourers and no...
Income Tax : ITAT Delhi confirmed deletion of addition on alleged diversion of interest-bearing funds, holding that hypothetical or notional in...
Income Tax : The High Court held that adjustment of refunds beyond 20% of disputed tax demand during pendency of appeal was unsustainable witho...
Income Tax : ITAT Indore set aside the appellate order denying TDS credit after the assessee produced Form 16A and Form 26AS showing deduction ...
Income Tax : The ITAT Ahmedabad held that a demolished and uninhabitable structure could not be treated as a residential house for Section 54F ...
Income Tax : The consolidation into Form 121 introduces stricter documentation and reporting obligations. The decision emphasizes accountabilit...
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...
Notification: S.O.625 This Notification contains amendment to Income-tax (Second Amendment) Rules, 1969 carried out on 14th February, 1969 not reproduced here as it is already contained in the body of the Rules itself.
Notification: S.O.624 This Notification contains amendment to Income-tax (Amendment) Rules, 1969 carried out on 14th February, 1969 not reproduced here as it is already contained in the body of the Rules itself.
CIRCULAR NO. 3-Income Tax Up to March 31, 1976, income-tax and other direct taxes were collected mainly by the Reserve Bank of India and by some of the branches of the State Bank of India or subsidiaries of the State bank conducting Government business. Because of the restricted number of points at which payment of direct taxes could be made, the taxpayers were put to considerable inconvenience.
Circular : No. 2-Income Tax In Board’s Circular No. 2-P(XXXIV-4) of 1966, dated 16-5-1966, instructions were issued that where Government securities are registered in the name of a banking company, tax should be deducted at source from the interest at the “rates in force” applicable to the banking company irrespective of the status of the beneficial owner of the securities.
Circular : No. 1-Income Tax Under the existing instructions, the Wealth-tax Officers do not allow the exemption under section 5(1)(iv), in the cases of members of co-operative societies of the tenant co-partnership type, on the ground that the legal ownership over the flats vests with the society and not with the individual members.
Notification: S.O.542 Sri Tirukachinambigal and Sri. Varadarajaperumal Devasthanam, Poonamllee (Madras) Central Government hereby notifies the under-mentioned temple to be a place of public worship of renown throughout the State of Madras for the purpose of the said section.
It is hereby notified for general information that the institution mentioned below has been approved by the Council of Sceintific and Industrial Research, the “prescirbed authority” for
Notification: S.O.4558 Research Society of the B. J. Medical College and Sassoon General Hospital, Poona has been approved by the Indian Council of Medical Research, the prescirbed 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 sub-clause of clause (iii) of section 194A of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies the following institutions for the purposes of the said sub-clause :–
It is hereby notified for general information that the institution mentioned below has been approved by the Council of Scientific and Industrial Research, “the prescribed authority”, fo
