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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...
Circular No. 39-Income Tax A comprehensive agreement for the avoidance of double taxation of income between India and Republic of France was signed by the representatives of the two countries on 26th March, 1969, and a notification under s.90 of the IT Act and s. 24A of the Companies (Profits) Surtax Act, to give effect to the provisions of the Agreement, has been
Notification: S.O.1416 M. Visvesvaraya Industrial Research and Development Centre It is hereby notified for general information that the institution mentioned below has been approved by the Council of Scientific and Industrial Research,
Circular : No. 36 -Income Tax I am directed to invite a reference to this Ministry’s Letter F. No. 12/41/69-ITCC, dated 5-4-1969, on the subject of deduction of income-tax from salaries paid during the year 1969-70. The Finance Bill introduced in the Parliament on February 28, 1970, provides, inter alia, the rates at which income-tax has to be deducted during the financial year
Circular : No. 35 -Income Tax I am directed to forward a copy of draft circular letter setting out the rates at which income-tax and surcharge should be deducted from interest on Government securities after April 1, 1970. It is requested that a circular on the basis of this draft may be issued by you immediately to all Treasury Officers and Sub-Treasury Officers under your control, individually
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) :
