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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...
Circular No. 641- Income tax The Finance Act, 1992 has inserted a new Chapter XII-C in the Income-tax Act, which provides for a simplified scheme for payment of income-tax by small businessman. Comments or clarifications on some questions and doubts are mentioned below
Notification No. S.O.872(E)-Income Tax In exercise of the powers conferred by clause (ii) of sub-section (1) of section 80L of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies the 7-year 17 percent. (taxable) Secured Redeemable PFC Bonds (First Series), issued by the Power Finance Corporation Limited for the purpose of the said clause
Notification No. G.S.R.896(E)-Income Tax Whereas, the Central Government is satisfied that it is necessary and expedient so to do in public interest to make reduction in the rate in respect of income-tax in favour of any person, being an Indian company, with whom the Central Government has entered into an agreement for the association or participation of that Government or any person authorised by that Government in any business consisting
Circular No. 640-Income tax Clause (10C) of section 10 of the Income-tax Act, 1961, deals with income-tax exemption on payments received at the time of voluntary retirement. The provisions of this clause which covered earlier only the payments received by employees of public sector companies have been amended by the Finance Act, 1992, to include therein the payments received by employees of companies other than public sector companies also
Notification No. S.O.2977-Income Tax In pursuance of sub-clause (ii) of clause (a) of sub-section (1) of section 138 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies all the officers of and above the rank of Superintendent of Police serving in the State Vigilance Bureau, Haryana, for the purpose of the said sub-clause.
There is no finding of fact to the effect that actually the loan had been granted to the managing director or any other person on interest, or that interest had actually been collected and the collection of the interest was not reflected in the accounts.
Circular No. 639-Income tax Representations have been received by the Board seeking clarifications as to whether, the assessee could file a return of income/loss under the Income-tax Act, 1961 on the next working day following a holiday and claim it to have been filed within the statutory time limit
Notification No. S.O.795(E)-Income Tax In exercise of the powers conferred by item (h) of sub-clause (iv) of clause (15) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies the 10-year 9 per cent. (Tax-free) Secured Redeemable Non-Convertible Bonds-VIII Issue issued by the National Thermal Power Corporation Limited for the purpose of the said item
Notification No. S.O.796(E)-Income Tax In exercise of the powers conferred by sub-clause (ii) of clause (1) of section 80L of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies the 7-year 17 per cent. (Taxable) Secured Redeemable Non-Convertible Bonds-VII Issue, issued by the National Thermal Power Corporation Limited, for the purpose of the said clause.
Notification No. S.O.797(E)-Income Tax In exercise of the powers conferred by sub-clause (ii) of clause (1) of section 80L of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies the 7-year 17 per cent. (Taxable) Secured Redeemable Non-Convertible Bonds-IX Issue, issued by the National Thermal Power Corporation Limited, for the purpose of the said clause.
