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Income Tax : The article explains how multinational digital companies generate substantial revenue from Indian users while shifting profits to ...
Income Tax : The Income Tax Department’s new TDS payment system under the Income Tax Act 2025 allows multiple TDS payments through a single c...
Income Tax : The new Income Tax Act, 2025 significantly reduces the number of statutory sections and reorganises tax compliance procedures effe...
Income Tax : The New Income Tax Act, 2025 replaces multiple TDS and TCS provisions with consolidated Sections 392, 393 and 394 effective from F...
Income Tax : Article explains important Income Tax Return (ITR) filing due dates for Financial Year 2025-26 relevant to different categories of...
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 : The Patna ITAT upheld rejection of a trust’s Section 12AB registration after finding that the trust deed permitted application o...
Income Tax : The High Court held that documents received through official international channels carry presumption of genuineness but must stil...
Income Tax : ITAT Delhi held that Section 69A could not be invoked where the Assessing Officer himself accepted that transactions were recorded...
Income Tax : The Mumbai ITAT held that exemption under Section 54F has to be given effect before applying set-off provisions under Section 70(3...
Income Tax : The Supreme Court dismissed the challenge to a Bombay High Court order condoning delay in filing Form 10B audit report under the I...
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.2953 In pursuance of sub-clause (ii) of clause (15) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies the following Certificates for the purposes of that sub-clause, namely :
In exercise of the powers conferred by sub-section (6) of section 88 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies the Sri Nachiar (Sri Andal) an
In exercise of the powers conferred by sub-section (6) of section 88 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies the Sri Jambukeswarar and Sri Akhilandeswari
Circular No.1(15) – Income Tax The basic rates of income-tax and super tax for the assessment year 1963-64 continue to be exactly the same as for the assessment year 1962-63. So far as Union surcharge and the special surcharge on unearned income are concerned, the rates are the same as in the last year, subject to the following changes
Notification: S.O.3142 Section(s) Referred: 230 ,230(1) Statute: INCOME TAX Date of Issue: 4/10/1962 In exercise of the powers conferred by sub-section (1) of section 230 of the INCOME-TAX ACT, 1961 (43 of 1961), the Central Government hereby makes the following further amendment to the notification of the Government of India in the Ministry of Finance (Revenue Division) No. S.R.O. 961, dated the 25th May, 1953, namely : This notification contains amendments to Income-tax Act, carried out on 4th October, 1962, not reproduced here as it is already contained in the body of the act itself In exercise of the powers conferred by sub-section (1) of section 230 of the INCOME-TAX ACT, 1961 (43 of 1961), the Central Government hereby makes the following further amendment to the notification of the Government of India in the Ministry of Finance (Revenue Division) No. S.R.O. 961, dated the 25th May, 1953, namely : This notificatio
In exercise of the powers conferred by section 295 of the INCOME-TAX ACT, 1961 (43 of 1961), the Central Board of Revenue hereby makes the following rules further to amend the INCOME-TAX RULES, 1962, namely :
In exercise of the powers conferred by sub-section (6) of section 88 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies that Sri Meenakshi Sundareswarar Temple, Madurai, to be of archaeological and artistic importance for the purposes of the said section
Circular No.22D – Income Tax Officers will note that in the rate schedule applicable to individuals, Hindu undivided families, etc., the slab of Rs. 15,001 – Rs. 20,000 has been substituted by two slabs, namely, Rs. 15,000 – Rs. 17,500 and Rs. 17,501 – Rs. 20,000. Secondly, for all the slabs above Rs. 5,000 the rates have been slightly increased as compared to the rates prescribed in the Finance Act, 1961. Thirdly
Notification: S.O.2610 Central Government hereby accords approval to the Kreditanstalt fur Wiederaufbau (West German Bank for Reconstruction), West Germany, for the purposes of exemption from income-tax or super-tax on the interest payable by any industrial undertaking in India on moneys borrowed by it under a loan agreement entered into with the said foreign financial institution
In exercise of the powers conferred by section 295, of the INCOME-TAX ACT, 1961 (43 of 1961), the Central Board of Revenue hereby makes the following rules to amend the INCOME-TAX RULES, 1962, namely :—
