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Income Tax : Despite withdrawal of many tax benefits under Section 115BAC, official duty-related allowances remain exempt to the extent of actu...
Income Tax : Tax auditors must now report all purchases and sales of unquoted shares under Clause 47 of Form 26. The key takeaway is increased ...
Income Tax : ITR-1 has evolved from a self-declaration return to a data-reconciliation exercise backed by AIS, TIS, and Form 26AS. Salaried tax...
Income Tax : Learn when home office expenses qualify for tax deductions under IRS rules. The article explains exclusive use, regular use, princ...
Income Tax : The article explains how home loan interest and principal repayments can reduce tax liability under the old tax regime. It also hi...
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 : The Tribunal held that a genuine and reasonable explanation for delay justified condonation of nearly three years. It emphasized t...
Income Tax : ITAT held that the assessee discharged the primary burden under Section 68 by producing complete documentary evidence regarding th...
Income Tax : The assessee contended that cash deposits in the bank account represented sales proceeds from a medicine business. The ITAT remand...
Income Tax : The Pune ITAT held that estimating net profit at 18% of contract receipts was excessive in the absence of supporting material. App...
Income Tax : The ITAT held that Section 40(a)(ia) could not be invoked where the assessee had not made the rent payments referred to in the tax...
Income Tax : CBDT has instructed tax officers to uniformly apply Sections 68 to 69D and Section 115BBE after a C&AG audit found inconsistencies...
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...
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 undermentioned temples to be places of
Notification: S.O.2382 In exercise of the powers conferred by section 2 of the Finance Act, 1967 (12 of 1967), read with clause (d) of sub-section (5) of section 2 of the Finance Act, 1966 (13 of 1966), the Central Board of Direct Taxes hereby makes the following rules, 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 Sri Narasimhaswami Devasthanam Temple, Namakkal, Salem Distt, Madras State, to be a place of public worship of renown throughout the Madras State for the purpose of the said section
Notification: S.O.2247 Birla Planetarium and Astronomical Research Centre, Calcutta It is hereby notified for general information that the institution mentioned below has been approved by the Council of Scientific and Industrial Research
In exercise of the powers conferred by section 126 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby deletes Serial Nos. 2B and 49 and the entries thereagainst from the Schedule annexed to its Notification S.R.O. 1214 (No. 44 Income-tax), dated the 1st July, 1952
In exercise of the powers conferred by sub-section (3) of section 104 of the Income-tax Act, 1961 (43 of 1961), the Central Government being of opinion that it is necessary and ex
In the notification of the Central Board of Direct Taxes No. S.O. 598, dated 13th February, 1967, published on pages 447 to 454 in Part II — Section 3 — Sub-section (ii) of the Gazette of India, Extraordinary, dated the 15th February, 1967 —
Notification: S.O.1949 This notification contains amendments to Income-tax Rules carried out on 29th May, 1967 not reproduced here as it is already contained in the body of the rules itself
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 Sri Mogileswara Swamy Temple Trustee Board, Mogili, Andhra Pradesh, to be a place of public worship of renown throughout the Andhra Pradesh for the purpose of the said section
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 Shri Parthasarathy Swamy Devasthanam, Triplicane, Madras, to be of historic importance and also as a place of public worship of renown throughout the State of Madras
