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Income Tax : The article explains how accurate Form 10BD reporting protects donor deduction claims, prevents penalties, and ensures consistency...
Income Tax : The article explains what remains unchanged under the new tax law while highlighting critical compliance checks taxpayers should u...
Income Tax : AO rejects books of accounts and applies flat net profit rate. Can taxpayer claim depreciation separately or is it embedded in tha...
Income Tax : The article highlights common return filing errors, including wrong ITR forms and income mismatches, that can result in defective ...
Income Tax : The ITAT Bangalore held that no disallowance under section 14A read with Rule 8D can be made where the assessee did not earn exemp...
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 : 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 Court held that transferring assessment proceedings under Section 127 was justified to facilitate coordinated investigation in...
Income Tax : The Court held that transfer of assessment proceedings to Delhi was justified where connected cases had already been centralized f...
Income Tax : The Hyderabad Bench emphasized that penalty under Section 271(1)(c) cannot be imposed solely because an addition survives appellat...
Income Tax : The Hyderabad ITAT observed that if a property is treated as stock-in-trade, the applicability of Section 43CA cannot be ignored. ...
Income Tax : The Tribunal quashed the reassessment after finding that the Assessing Officer failed to issue notice under Section 143(2). The de...
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...
Income Tax : CBDT has granted scientific research approval under the Income-tax Act, 2025, enabling eligible donations to qualify for tax benef...
Income Tax : CBDT has granted scientific research approval under the Income-tax Act, 2025, allowing eligible donations to qualify for tax benef...
Circular No. 47-Income Tax A question has arisen whether the provision made by an assessee in its accounts on account of the estimated service gratuity payable to the employees can be allowed as a deduction when no gratuity fund has been set up under Part C of the Fourth Schedule to the Income-tax Act
Circular No. 46-Income Tax Reference is invited to the Board’s Circular No. 4-P(LVIII-22), dated 6-8-1964 [Clarification 2] on the above subject. Several representations have been received by the Board seeking clarification about the meaning of the term “salary” as used in section 10(10).
Circular No. 45-Income Tax The rates of income-tax for the assessment year 1970-71 in the case of all categories of taxpayers (corporate as well as non-corporate) are specified in Part I of the First Schedule to the Finance Act, 1970. These rates – summarised in Annexure I to this circular – are the same as those specified in Part III of the First Schedule to
In pursuance of sub-clause (ii) of clause (15) of section 10 of the Income-tax Act, 1961, (43 of 1961), the Central Government hereby specifies the following Certificates for the purposes of that sub-clause, namely :—
The scheme of Post Office (Time Deposits) governed by the Post Office (Time Deposits) Rules, 1970. (b) The sch
pursuance of clause (vi) of sub-section (3) section 194A of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies the following schemes as schemes to which the said clause apply, namely :—
In pursuance of sub-clause (iia) of clause (15) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby makes the following amendment in the notification of th
It is hereby notified for general information that the institution mentioned below has been approved with effect from 22nd October, 1962, by the Council of Scientific and Industrial Resea
Circular No. 44-Income Tax Deduction to salaried employees who do not own any conveyance as also those who own a bicycle – I am directed to invite a reference to this Ministry’s Circular No. 36 [F. No. 275/42/70-ITJ], dated 25-3-1970 [printed under section 192] and to say that the two examples in Annexure II to the above circular have been further considered in the light of
Hirday Narain Vs. ITO (Supreme Court) Exercise of power to rectify an error apparent from the record is conferred upon the Income-tax Officer in aid of enforcement of a right. The Income-tax Officer is an officer concerned with assessment and collection of revenue, and the power to rectify the order of assessment conferred upon him to ensure that injustice to the assessee or to the Revenue may be avoided.
