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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...
Notification: S.O.3673 Central Government hereby accords approval to the Banque Francaise du Commerce Exterieur, Paris, for the purposes of exemption from tax on the interst 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 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
It is hereby notified for general information that the institution mentioned below has been by the Council of Scientific and Industrial Research, the ‘prescribed authority’ for the purposes of clause
In exercise of the powers conferred by clause (d) of sub-section 5 of section 2 of the Finance Act, 1964 (5 of 1964), the Central Board of Direct Taxes hereby makes the following rules, namely :—
In exercise of the powers conferred by sub-section (6) section 88 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies Sri Sangameswarar Temple, Bhavani,
Notification: S.O.2567 This notification contains amendments to Income-tax Rules carried out on 27th July, 1964 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 the Shri Devarajaswamy
Notification: S.O.2573 It is hereby notified for general information that the institution mentioned below has been approved by the Council of Scientific and Industrial research, the prescribed authority
It is hereby notified for general information that the institution mentioned below has been approved by the Council of Scientific and Industrial research, the ” prescribed authority “, for the purpose of clause (ii) of sub-section (1) of section 35 of the Income-Tax Act, 1961, (43 of 1961).
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 No. 67 and the entries thereagainst from the
