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Income Tax : Rule 46(8) mandates daily backups of electronic books on servers located in India, strengthening digital tax compliance and data i...
Income Tax : CBDT allows eligible salaried taxpayers with LTCG up to ₹1.25 lakh under section 112A to file ITR-1, simplifying return filing f...
Income Tax : Explore income-tax rates applicable over the last ten assessment years for individuals, companies, firms, LLPs, HUFs, and co-opera...
Income Tax : Learn how business and professional income is computed under the Income-tax Act after the Finance Act, 2026. This guide explains t...
Income Tax : Understand the statutory time limits for issuing income-tax notices and completing assessments under the Income-tax Act. The guide...
Income Tax : Net direct tax collections for FY 2026-27 grew by 14.64% as of June 17, 2026, driven by higher corporate and non-corporate tax rec...
Income Tax : The CBI apprehended an Income Tax Office Superintendent in Odisha after he was allegedly caught accepting a bribe for deleting a d...
Income Tax : The Income Tax Appellate Tribunal has proposed a priority disposal mechanism for appeals filed up to and including 2022 in respons...
Income Tax : A representation has urged CBDT to merge TDS return codes 1023 and 1024, arguing that both apply to the same contract payments wit...
Income Tax : Association requested CBDT to rationalize CASS 2026 case selection considering the administrative burden caused by implementation ...
Income Tax : ITAT Jaipur held that exemption under Section 11 cannot be denied merely because Form 10B was filed late when it was already avail...
Income Tax : Bombay HC admitted the Revenue's appeal on AMP expenditure and payments to doctors, holding both require judicial examination. It ...
Income Tax : ITAT held that agricultural land within the prescribed municipal distance is a capital asset and restricted the on-money addition ...
Income Tax : NCLAT held that a single application covering multiple years and company officers is maintainable in the absence of any statutory ...
Income Tax : ITAT held that Section 87A rebate cannot be denied on tax payable under Section 111A where the assessee qualifies under the prescr...
Income Tax : CBDT has approved a scientific research institution under the Income-tax Act, 2025 for tax years 2026-27 to 2030-31. The notificat...
Income Tax : CBDT has approved the University of Hyderabad for scientific research under Section 45 of the Income-tax Act, 2025. The approval i...
Income Tax : The CBDT has identified specific categories of taxpayers whose returns will be compulsorily selected for complete scrutiny during ...
Income Tax : The Ordinance exempts interest income and capital gains arising from Government securities for Foreign Institutional Investors and...
Income Tax : The Central Government has specified infrastructure sub-sectors from the Updated Harmonised Master List as eligible businesses und...
Notification No. 42/2011 – Income Tax [F.NO.V-27015/1/2011-SO(NAT.COM)]/S.O. 883(E), DATED 27-4-2011 WHEREAS by Notification of the Government of India, in the Ministry of Finance (Department of Revenue) number S.O. 1586(E), dated the 11th November, 2005, issued under sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had notified at serial number 4, “Multi Organ Harvesting and Sharing Network in India” by Mohan Foundation, A-81, Anna Nagar, Chennai – 600102, as an eligible project or scheme for a period of three years beginning with financial year 2005-06 and which was extended further vide Notification number S.O. 2036(E), dated 6th August, 2009 for a period of three years beginning with financial year 2008-09;
Notification No. 41/2011- Income Tax [F.NO.V-27015/1/2011-SO(NAT.COM)]/S.O. 882(E), DATED 27-4-2011 WHEREAS by Notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.O. 737(E), dated 13th March, 2009, issued under clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had notified at serial number 16, K.M.G. General Hospital by Kacheria Mojilal Gordhandas General Hospital Trust, Near Saliawadi Darwaja, Balasinor, District Kheda, Gujarat – 388255, as an eligible project or scheme for a period of three years beginning with financial year 2009-10;
Notification No. 40/2011 – Income Tax [F.NO.V-27015/1/2011-SO(NAT.COM)]/S.O. 881(E), DATED 27-4-2011 WHEREAS by Notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.O. 121(E), dated 12th January, 2009, issued under clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had notified at serial number 5, Rishi Valley Rural Education Centre by Krishnamurthi Foundation India, Vasabta Vihar, Door No. 124-126 (old No.64-65), Greenways Road, Raja Annamalaipuram, Chennai-600 028, Tamilnadu, as an eligible project or scheme for a period of three years beginning with financial year 2008-09;
Notification No. 39/2011 – Income Tax [F.NO.V-27015/1/2011-SO(NAT.COM)]/S.O. 880 (E), DATED 27-4-2011 WHEREAS by Notification of the Government of India in the Ministry of Finance (Department of Revenue), number S.O. 602(E), dated the 12th August, 1993, issued under sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had specified at serial number 12, for Medical care to old persons Leprosy and Cancer patients, provision of home to old persons rehabilitation of destitute old women, conducting eye camps by Helpage India, C-14, Qutab Institutional Area, New Delhi-110016 as an eligible project or scheme for a period of two years beginning with assessment year 1994-95
Raj Ratan Palace Co-op Hsg Soc vs. DCIT (ITAT Mumbai)- The assessee-society had merely given permission to the developer to construct on the society’s land. No part of the land was ever transferred by the society. The Society continued to be the owner of the land and no change in ownership of land had taken place. Mere grant of consent will not amount to transfer of land/or any rights therein. The amount of Rs. 3.02 crores received by the members (on which some of them had paid tax) was not assessable in the assessee’s hands either u/s 2(24) or as capital gains
Notification No. 38/2011 – Income Tax [F.NO.V-27015/1/2011-SO(NAT.COM)]/S.O. 879(E), DATED 27-4-2011 WHEREAS by Notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.O. 998(E), dated the 5th July, 2006, issued under clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had notified at serial number 16, “Building a general corpus fund for Helpage India’s work” by Helpage India, C-14, Qutab Institutional Area, New Delhi – 110016, as an eligible project or scheme for a period of three years beginning with financial year 2006-07 and which was extended further vide Notification number S.O. 2048(E) dated the 25th June, 2009 for a period of three years beginning with financial year 2009-10;
Notification No. 37/2011 – Income Tax [F.NO.V-27015/1/2011-SO(NAT.COM)]/S.O. 878(E), DATED 27-4-2011 WHEREAS by Notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.O. 2370(E), dated 3rd October, 2008, issued under clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had notified at serial number 24, Kidney care by Arogyaseva Medical Academy of India, 32/2 A, Erandawane, Pune-411004, as an eligible project or scheme for a period of three years beginning with financial year 2008-09;
Notification No. 36/2011 – Income Tax [F.NO.V-27015/1/2011-SO(NAT.COM)]/S.O. 877(E), DATED 27-4-2011 WHEREAS by Notification of the Government of India, in the Ministry of Finance (Department of Revenue) number S.O. 973(E), dated the 14th December, 1995, issued under sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961, the Central Government had notified at serial number 9, “Construction, equipments, furnishing and running of Smt, Lakshmi Shah Rural Medical and Research Centre” by Smt. Lakshmi and Shri Jankilal Shah Foundation, 9, Naples, Sobini Road, Cuffe Parade, Mumbai – 400 005, as an eligible project or scheme for a period of three years beginning with assessment years 1996-97 which was extended further vide Notification number S.O. 688(E), dated the 11th August, 1998 for a period of three years beginning with assessment year 1999-2000
Notification No 35/2011 – Income Tax [F.NO.V-27015/1/2011-SO(NAT.COM)]/S.O. 876(E), DATED 27-4-2011 WHEREAS by Notification of the Government of India, in the Ministry of Finance (Department of Revenue) number S.O. 708(E), dated the 25th May, 2005, issued under sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had notified at serial number 10, “Project for handicapped persons” by Disabled Welfare Trust of India, Surat 1058, Dhobi Sheri, Nanpura, Surat-1, as an eligible project or scheme for a period of three years beginning with financial year 2005-06 and which was extended further vide Notification number S.O. 1300(E), dated 4th June, 2008 for a further period of three years beginning with financial year 2008-09;
Notification No. 34/2011- Income Tax [F.NO.V-27015/1/2011-SO(NAT.COM)]/S.O. 875(E), DATED 27-4-2011 WHEREAS by Notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.O. 1111(E), dated the 8th August, 2005, issued under clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had notified at serial number 14, “Prevention of kidney diseases through awareness programme” by India Renal Foundation, 60-61, A Wing, Nobles, Opp. Nehru Bridge, Ashram Road, Ahmedabad – 380009, as an eligible project or scheme for a period of three years beginning with financial year 2005-06 and which was extended further vide Notification number S.O. 765(E), dated 18th March, 2009 for further period of three years beginning with financial year 2008-09;
