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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 Sri Chandra Choodeswara Swamy Temple, Hosur, Salem District, Madras State, to be of historic, archaeological and artistic importance 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 Shamlaji Temple, Shamlaji Taluka, Bhiloda District, Sabarkantha (Gujarat), to be of historic, archaeological and artistic importance for the purpose of the said section
This notification contains amendments to Income-tax Rules carried out on 11th July, 1966 not reproduced here as it is already contained in the body of th
Notification: S.O.2288 – Indian Jute Industries Research Association, Calcutta – It is hereby notified for general information that the institution mentioned below has been approved by the Council of Scientific and Industrial Research,
Notification: S.O.1704 Kothari Scientific and Research Institute, 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. 2, 73, 74 and 80 and the entries thereagainst from the Schedule annexed to its notification S.R.O. 1214 (No. 44-Income-tax) dated the 1st July, 1952
Darjeeling District of West Bengal, excluding Siliguri Sub-Division. 2. Kangra District, Punjab. 3. Mandi District, Himachal Pradesh. 4. Trivandrum District, Kerala. 5. Quilon District, Kerala. 6. Kottayam District of Kerala, excluding Meenachhil, Kanjirapally and Changanacherry Talukas. 7. Ernakulam District, Kerala. 8. Trichur District, Kerala. 9
Notification: S.O.1417 Association of Surgeons of India, Madras 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).
Explore CBDT Letter F. No. 12/19/64-IT(B) dated 22-2-1966, clarifying HRA exemption for Central Govt employees receiving flat-rate allowances. Learn about tax implications and pending amendments.
Notification: S.O.189 This notification contains amendments to Income-tax Rules carried out on 13th January, 1966 not reproduced here as it is already contained in the body of the rules itself
