Income Tax : Government expands Tax Collected at Source (TCS) under Section 206C(1F) to include 10 specific luxury goods valued over ₹10 lakh...
Income Tax : KSCAA urges CBDT to clarify the disallowance of Section 87A rebate on Short Term Capital Gains, citing taxpayer hardship and incon...
Income Tax : Understand the new 1% TCS on luxury goods above ₹10 lakh in India, effective April 2025. Learn which items are included, implica...
Income Tax : Understand Form 15G & 15H for no TDS on interest. Learn who should file, deadlines, online submission, and penalty details....
Income Tax : Explore the complex interplay of tradition and tax law surrounding Streedhan (women's jewellery) in India, CBDT guidelines, and co...
Corporate Law : CBDT signed 174 Advance Pricing Agreements in FY 2024-25, including a record number of bilateral agreements, to improve transfer p...
Income Tax : ITGOA urges CBDT to address workload imbalances in JAO charges. Proposes systematic reorganization to ensure equitable distributio...
Income Tax : Explore the Finance Bill 2025 highlights, including revised tax rates, TDS/TCS amendments, ULIP taxation, and updated rules for sa...
Income Tax : India's tax arrears stand at ₹47 lakh crore as of Dec 2024. CBDT & CBIC are taking steps, including asset identification, litiga...
Income Tax : India decriminalizes minor direct tax offenses to ease compliance. New measures include litigation management, compounding guideli...
Income Tax : ITAT Delhi held that while computing total income as per Rule 5 r.w. section 44, provisions of section 14A are not applicable. Fur...
Income Tax : ITAT Mumbai held that alternative claim of assessee (lessee) to allow depreciation on Finance Lease Rental Payment is allowable si...
Income Tax : ITAT Chennai held that cash sales of liquor is the source of cash deposit during demonetization and accordingly, since the nature ...
Income Tax : ITAT Pune remands Dnyanagan Education Society's case for fresh consideration after the rejection of its Section 12AB registration ...
Income Tax : Madras High Court directed to expeditiously dispose of the appeal filed before Appellate Authority and also held that stay granted...
Income Tax : CBDT amends Income-tax Rules, 1962; introduces new ITR-2 form effective from 1st April 2025 via Notification No. 43/2025 dated 3rd...
Income Tax : CBDT issues Income-tax (Fourteenth Amendment) Rules, 2025, effective April 1, 2025, replacing FORM ITR-5 in Appendix-II....
Income Tax : CBDT notification clarifies that expenses to settle proceedings under SEBI, Securities Contracts, Depositories, and Competition Ac...
Income Tax : The Karnataka Urban Water Supply & Drainage Board receives tax exemption for specified income from FY 2023-24 to 2027-28 under Sec...
Income Tax : CBDT amends Income Tax Rules, effective April 1, 2025, revising Form 3CD, MSME interest provisions, buyback reporting, and loan/de...
CBDT notifies Income-tax (34th Amendment) Rules, 2021 vide Notification No. 138/2021-Income Tax Dated: 27th December, 2021. Vide this CBDT inserts Income Tax Rule 2DD. Computation of exempt income of specified fund for the purposes of clause (23FF) of section 10, Notifies New Forms i.e. Form No. 10-II – Statement of exempt income under clause (23FF) of section […]
Notification No. 10 of 2021 – The following Assistant Commissioners of Income Tax (Junior Scale) are, hereby, appointed as Deputy Commissioner of Income Tax (Senior Time Scale) in Level 11 in the Pay Matrix Rs.67,700-2,08,700/-, w.e.f. 01.01.2022 or the date of assumption of charge, whichever is later
CBDT directs that the Assessing Officers shall identify the following categories of information pertaining to Assessment Year 2015-16 and Assessment Year 2018-19, which may require action under section 148 of the Act, for uploading on the Verification Report Upload (VRU) functionality on Insight portal
CBDT approves ‘Pimpri Chinchwad Education Trust’, Pune under the category ‘University, College or Other Institution’ for Scientific Research for section 35(1)(ii) of Income-tax Act, 1961 read with rules 5C and 5E of the Income-tax Rules, 1962. vide Notification No. 128/2021-Income Tax | Dated: 31st October, 2021. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF […]
CBDT clarifies that eligibility of exemption under clause (23FE) of section 10 of the Act shall be as follows: – (a) if the loans and borrowings have been taken by the specified fund or any of its group concern, specifically for the purposes of making investment by the specified fund in India, such fund shall not be eligible for exemption under clause (23FE) of section 10 of the Act;
Central Government, in consultation with the Chief Justice of the High Court of Manipur designates Special Court in the Manipur under Section 280A(1) of Income Tax Act 1961 vide Notification No. 124/2021 – Income Tax Dated: 25th October, 2021. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) (Investigation Division-V) New Delhi Notification […]
Central Government, in consultation with the Chief Justice of the High Court of Bombay designates Special Court in the Goa under Section 280A(1) of Income Tax Act 1961 vide Notification No. 123/2021 – Income Tax Dated: 25th October, 2021. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) (Investigation Division-V) New Delhi Notification […]
Central Government, in consultation with the Chief Justice of the High Court of Karnataka designates Special Court in the Karnataka under Section 280A(1) of Income Tax Act 1961 vide Notification No. 122/2021 – Income Tax Dated: 25th October, 2021. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) (Investigation Division-V) New Delhi Notification […]
Office Order No. 270 of 2021 Following transfer/postings of the officers in the grade of Commissioners of Income Tax/Directors of Income Tax, are hereby ordered with immediate effect and until further orders:
Office Order No. 245 of 2021 In continuation of CBDT’s Office Order No. 137 dated 23.08.2018 and subsequent respective orders for extending ad-hoc appointment to the grade of Assistant Commissioner of Income Tax, the President is pleased to extend the ad-hoc appointments of the following Assistant Commissioners of Income Tax from 23.08.2021 to 22.08.2022 or till their regular promotion. whichever is earlier:-
