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Income Tax : ITAT held section 35D(2)(c) applies only to companies and upheld disallowance of REIT's claim for IPO and listing expense amortisa...
Income Tax : Explains taxation of gifts under Section 56(2)(x), exemptions for relatives, Rs. 50,000 threshold, clubbing provisions and documen...
Income Tax : Income-tax Act, 2025 revises the TRACES TDS Justification Report password format with new form numbering and structure from 1 Apri...
Income Tax : Explains how the second proviso to Section 112 caps LTCG tax for eligible resident individuals and HUFs after the Finance (No. 2) ...
Income Tax : Beware of fake Income Tax emails sent from QQ Mail or Gmail IDs. Learn how to identify phishing scams, verify genuine notices, and...
Income Tax : ITAT Bangalore restored the appeal after holding that mere upload of an order on the ITBA portal is not valid service under Sectio...
Income Tax : Direct tax collections as on 13 July 2026 show 16.11% growth in gross collections and 16.40% growth in net collections over the pr...
Income Tax : ITAT Bangalore held Section 2(47)(v) inapplicable as the JDA did not satisfy Section 53A conditions, deleting capital gains for AY...
Income Tax : ICAI has invited public comments on the Exposure Draft revising the Guidance Note on Tax Audit under Section 44AB by 25th July, 20...
Income Tax : A representation seeks activation of Form 68 filing for misreporting cases after the Finance Act, 2026 expanded immunity under Sec...
Income Tax : Supreme Court held the CIT had no power to cancel Section 12A registration before 01.10.2004, restored the ITAT order and set asid...
Income Tax : Calcutta High Court held that a Section 148 notice uploaded after the limitation period was time-barred and dismissed the Revenues...
Income Tax : Gujarat High Court upheld reassessment under Sections 147 and 148, holding that fresh survey material and statements constituted t...
Income Tax : Madras High Court upheld additions based on corroborated loose sheets, rejected telescoping and business stock claims, and dismiss...
Income Tax : Madras HC upheld the Section 148A(d) order, holding the Jurisdictional Assessing Officer could issue notices under Sections 148A a...
Income Tax : CBDT Notification No. 91/2026 notifies NPCIL's capital asset transfer to ASHVINI under section 47(viiaf), applicable for FY 2025-2...
Income Tax : CBDT approves IIIT Dharwad for scientific research under Section 45 of the Income-tax Act, 2025, subject to Rules 31, 32 and 34 co...
Income Tax : CBDT notifies NaBFID's ten-year zero coupon bond under Section 2(112), specifying issue timeline, maturity amount, discount and bo...
Income Tax : ITAT Pune allowed rectification under Section 254(2), correcting factual errors and granting Section 54EC deduction of ₹1 crore ...
Income Tax : Notification No. 88/2026 gives effect to the India–Sri Lanka DTAA amending Protocol, effective from income derived in the specif...
Circular : No. 8-Income Tax Section 280ZA provides for the issue of tax credit certificates to public companies owning industrial undertakings situated in urban areas if they shift their undertakings to some other areas with the prior approval of the Board.
Notification: S.O.1242 Medical Research Centre of Bombay Hospital Trust, 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) :
is hereby notified for general information that the institution mentioned below has been approved by the Indian Council of Medical Research, the “prescribed authority” for the purposes of cla
Notification: 851 Central Government hereby notifies M/s. Amratalal Ravjibhai Parikh, Manek Chowk, Ahmedabad, for the purposes of the said sub-clause
Circular : No. 5-Income Tax It has been represented to the Board that persons of Indian origin residing abroad but intending to return to India and settle here permanently, apprehend that the money brought in or remitted from abroad by such persons might be subjected to income-tax in India.
Circular : No. 4-Income Tax Under section 9(1)(iii ), pension accruing abroad is taxable in India only if it is earned in India. Pensions received in India from abroad by pensioners residing in this country, for past services rendered in the foreign countries, will be income accruing to the pensioners abroad, and will not, therefore
Notification: S.O.625 This Notification contains amendment to Income-tax (Second Amendment) Rules, 1969 carried out on 14th February, 1969 not reproduced here as it is already contained in the body of the Rules itself.
Notification: S.O.624 This Notification contains amendment to Income-tax (Amendment) Rules, 1969 carried out on 14th February, 1969 not reproduced here as it is already contained in the body of the Rules itself.
CIRCULAR NO. 3-Income Tax Up to March 31, 1976, income-tax and other direct taxes were collected mainly by the Reserve Bank of India and by some of the branches of the State Bank of India or subsidiaries of the State bank conducting Government business. Because of the restricted number of points at which payment of direct taxes could be made, the taxpayers were put to considerable inconvenience.
Circular : No. 2-Income Tax In Board’s Circular No. 2-P(XXXIV-4) of 1966, dated 16-5-1966, instructions were issued that where Government securities are registered in the name of a banking company, tax should be deducted at source from the interest at the “rates in force” applicable to the banking company irrespective of the status of the beneficial owner of the securities.
