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Income Tax : The Income Tax Act 2025 has overhauled the 1961 law by introducing new section numbers, a unified “Tax Year,” and simplified c...
Income Tax : The Income Tax Act 2025 introduces mandatory reporting of high-value gifted immovable properties exceeding ₹45 lakh. The amendme...
Income Tax : The ITAT Surat held that agricultural land qualifies as “immovable property” under Section 56(2)(x) since the provision covers...
Income Tax : Businesses now face stricter seller-wise tracking, PAN verification, and reconciliation obligations under TDS on purchase provisio...
Income Tax : The judgment rejected the practice of assigning a nil arms length price merely because a taxpayer reported financial losses. The c...
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 : ITAT Bangalore held that an appeal filed without verification by the authorized Principal Officer was not maintainable. The Tribun...
Income Tax : Gujarat High Court held that reassessment notices issued after scrutiny assessment were invalid because the Assessing Officer had ...
Income Tax : ITAT Delhi noted that confirmations from the company and broker regarding share transactions were available but not adequately con...
Income Tax : Mumbai ITAT treated appeals against rejection of Section 12AB and 80G registration as infructuous after the CIT(E) subsequently gr...
Income Tax : Mumbai ITAT held that granting only seven days for compliance before dismissing an appeal violates principles of natural justice. ...
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...
Income Tax : The new tax regime introduces Form 121 as a single declaration replacing Forms 15G and 15H. It simplifies TDS exemption compliance...
In exercise of the powers confered by sub-section (6) of section 88 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies Shri Madurakali Amman Temple (Siruvachur), Perambular Taluk, Tiruchirapalli Distt., Madras, to be of historic, archaeological and artistic importance for the purpose of the said section
Reference is invited to the Central Board of Direct Taxes letter F. No. 12/19/64-IT(B), dated 22-2-1966 , where in it was intimated that the house rent allowance given at flat rates may be treated as exempt from income-tax without verification of the fact whether the employee concerned had paid any house rent and the allowance exempted is less than the difference between the actual expenditure on the house rent and 10 per cent of the salary of the employee.
Notification: S.O.3646 The Society for the Care, Treatment and Training of Children in Need of Special Care, Sewri Hills, Bombay has been approved by the Indian Council of Medical Research, the prescribed authority, for the pruposes 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 sub-section (6) of section 88 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies Sri Kaleshwaraswamy Temple, Kaleshwaram (v), Manthani Taluk, Karimnagar District, Andhra Pradesh, to be of historic, archaeological and artistic importance for the purpose of the said section
Expenditure incurred to resist in a civil proceeding the enforcement of a measure-legislative or executive, which imposes restrictions on the carrying on of a business or to obtain a declaration that the measure is invalid would.
In the notification of the Central Board of Direct Taxes No. S.O. 2451, dated the 10th August, 1966, published on pages 1225 to 1229 in Part II, Section 3, Sub-section (ii) of the Gazette of India, Extraordinary, da
Notification: S.O.2451 This Notification contains Amendment to Income-tax (Second Amendment) Rules, 1966 carried out on 10th August, 1966 not reproduced here as it is already contained in the body of the Rules itself
Circular No.4-P – Income Tax Individuals, Hindu undivided families, unregistered firms, associations of persons (other than co-operative societies), bodies of individuals and artificial juridical persons – In the case of taxpayers of these categories, the gradation of income slabs and the rates of income-tax applicable thereto are the same as for the assessment year 1965-66, under the Finance Act, 1965. The basis and the rates for the levy of surcharges on the
the Income-tax Officer, Ward-A, Bulsar, shall have jurisdiction for the purpose of making any assessment for any assessment year prior to the assessment year commencing on the 1st April, 1963, under the Income-tax Act, 1961 (43 of 1961), or the Indian Income-tax Act, 1922 (11 of 1922), in respect of all persons residing or having their p
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 Sri Chandra Choodeswara Swamy Temple, Hosur, Salem District, Madras State, to be of historic, archaeological and artistic importance for the purpose of the said section
