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Income Tax : Clause 43 in Tax Audit Form No. 26 requires auditors to verify remittances reported in Part-D of Form 145. Incorrect classificatio...
Income Tax : The article explains the structure, filing requirements, and tax implications of IRS Form 1041 for trusts and estates. It highligh...
Income Tax : The Income-tax Department is increasingly relying on AI-based verification and automated reconciliation systems to detect discrepa...
Income Tax : Income Tax authorities are increasingly reopening assessments involving political donation deductions claimed under Section 80GGC....
Income Tax : Filing Income Tax Return is not always linked to tax liability. This guide explains the transaction-based conditions under Section...
Income Tax : Association requested CBDT to rationalize CASS 2026 case selection considering the administrative burden caused by implementation ...
Income Tax : KSCAA requested the CBDT to release e-filing utilities and schemas for AY 2026-27 without delay, stating that pending utilities ar...
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 : Tribunal ruled that objections relating to defective title, encroachments, and legal disputes require proper valuation examination...
Income Tax : ITAT Delhi ruled that where an assessee disputes the stamp duty valuation under Section 50C, the Assessing Officer should refer th...
Income Tax : In a commercial suit regarding specific performance, High Court had allowed a Civil Revision Petition by setting aside the order o...
Income Tax : ITAT Mumbai ruled that payments made for global brand, communications, and technology support services within the Deloitte network...
Income Tax : ITAT Mumbai held that amortization of BOT road project expenditure must be computed based on the actual concession period and not ...
Income Tax : The Income Tax Department increased monetary thresholds for assigning cases between ITOs and D/ACITs in Delhi Region. The revised ...
Income Tax : The Principal Chief Commissioner of Income Tax (Exemptions) approved the company under Section 35(1)(iia) for scientific research ...
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...
This notification contains amendments to Income-tax Rules carried out on 16th December, 1970 not reproduced here as it is already contained in the body of the rules itself
Notification: S.O.3951 The Association of Otolaryngologists of India, 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) :
Notification: S.O.3769 This notification contains amendments to Income-tax Rules carried out on 18th November, 1970 not reproduced here as it is already contained in the body of the rules itself
Circular No. 49-Income Tax Section 288B, introduced by the Finance Act, 1966, provides for rounding off of the amount of tax (including tax deductible at source or payable in advance), interest, penalty, fine or any other sum payable and the amount of refund due under the provisions of the Act, to the nearest rupee and for this purpose where such amount contains a
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 Athmanathaswam
Circular: No. 48 -Income Tax I am directed to invite a reference to the Board’s Circular No. 22/68-IT(B) [F. No. 12/23/68-IT(B)], dated 28-3/13-5-1968, regarding the provisions of section 194A. Instances have been brought to the notice of the Board where in the case of outstation sale of goods the supplier draws a hundi on the buyer and routes it through his banker
In exercise of the powers conferred by clause (b) of sub-section (2) of section 80G of the Income-tax Act, 1961, (43 of 1961), the Central Government hereby notifies the under-mentione
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 Satya Gnana Sabai, Vadalar, Cu
any company in which all the shares are held (whether singly or taken together) by the Government or the Reserve Bank of India or a Corporation owned by that Bank.
This notification contains amendments to Income-tax Rules carried out on 14th October, 1970 not reproduce
