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Income Tax : Smt. Ranjana Kumari/Kalta Vs DCIT/ACIT (Central) (ITAT Chandigarh) The appeals involved three assessees belonging to the Kalta Gro...
Income Tax : The guide compiles the principal Income-tax Act provisions applicable to non-residents establishing business in India and resident...
Income Tax : CBDT has identified six categories of returns for compulsory scrutiny during FY 2026-27. Selection triggers detailed examination b...
Income Tax : Tax on dividends, interest, royalties and FTS earned by non-residents is governed by the more beneficial rate under the Income-tax...
Income Tax : The applicable withholding tax depends on the Income-tax Act or the relevant DTAA, whichever is more beneficial. Treaty rates diff...
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 held that CPC could not make adjustments under Section 143(1) without issuing the mandatory prior intimation. The order was q...
Income Tax : SC issued notice as Delhi HC quashed Section 153C notices beyond the ten-year block period while clarifying key principles on sear...
Income Tax : ITAT held the assessment time-barred as the AO failed to pass the final order within the mandatory timeline under Section 144C(13)...
Income Tax : Tribunal partly allowed the assessee's appeals by granting relief on transfer pricing, scientific research deduction, product regi...
Income Tax : The High Court held that the assessment was time-barred as it was not completed within the mandatory period under Section 144C....
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.S.O.252(E) – Income Tax In exercise of the powers conferred by sub-section (1) of section 54EB of the Income-tax Act 1961 (43 of 1961), the Central Board of Direct Taxes hereby specifies the following assets, referred to as the long-term specified assets, for the purposes of the said section
Notification No.S.O.251(E) – Income Tax In exercise of the powers conferred by sub-section (1) of section 54EA of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby specifies the following bonds and equity shares for the purposes of the said section, namely:
Circular No. 752-Income Tax Under the provisions of section 80G of the Income-tax Act, 1961, contributions made to the A.P.C.M’s Cyclone Relief Fund have been made fully exempt from tax, and can hence be taken as a deduction from total income.
Notification No.S.O.174(E) – Income Tax In exercise of the powers conferred by clause (iiia) of the proviso to section 193 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies, the purpose of that clause, the difference payable between the redemption value and the bid price of Zero Coupon Bonds of the Government of India issued under the scheme for sale of Zero Coupon Bonds, 2000 (Third
Notification No.S.O.120(E) – Income Tax In exercise of the powers conferred by clause (23D) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies Alliance Capital Mutual Fund set up under the trust deed dated the 27th December, 1994, between Alliance Capital Management Corporation of Delaware, United States of America and Mr. Dave H. Williams, United States of
Circular No. 751-Income Tax This scheme shall be called the Securities Lending Scheme, 1997
Dismissing the appeal filled by the Revenue and the cross appeal of the assessee, this Court HELD : 1.1. An educational society or Trust or other similar body running an educational institution solely for educational purposes and not for purposes of profits could be regarded as `other educational institution’ coming within Section 10(22) of the Act. [954-F]
Circular No. 750-Income Tax Circular No. 748, dated 19th December, 1996 (Clarification 1) laid down guidelines in respect of approved investments for purposes of section 54EA and section 54EB of the Income-tax Act. Subsequent to the issue of those guidelines, the Income-tax (Second Amendment) Ordinance, 1996 has been promulgated on 31-12-1996. By virtue of section 2 of the Ordinance, shares
Circular No. 749-Income Tax Under the provisions of section 203, the Drawing and Disbursing Officers (DDOs) of various Central Government Departments are deducting tax from payments made to its employees, contractors, etc. The taxes so deducted are being paid into Government account by book adjustment.
Circular No. 748-Income Tax Sections 54EA and 54EB of the Income-tax Act, 1961 have been introduced by the Finance (No. 2) Act, 1996 with effect from 1-10-1996 will consequently apply in relation to transfer of long-term capital assets on or after this date. Capital gains tax will be exempted in cases where net consideration (section 54EA) or the capital gains (section 54EB) is invested in certain approved instruments.
