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...
Office Order No. 246 of 2019 – Promotion of Officers to the grade of Chief Commissioner of Income Tax (CCIT) – reg F.No. A-32011/1/2019-Ad-VI Government of India Ministry of Finance Department of Revenue (Central Board of Direct Taxes) North Block, New Delhi -110 001 Dated: 02.12.2019 Office Order No. 246 of 2019 Consequent upon approval […]
It has been brought to the notice of Board that notices under section 143(2) of the Income-tax Act, 1961 (‘Act’) were generated in respect of certain invalid returns of the assessees filed for the Assessment Year 2017-18 through CASS Cycle 2018. As the scrutiny of such returns will pose a challenge for the AO and is bad in law, I am directed to state that Assessing Officers shall drop the proceedings u/s 143(2) of the Act in such cases and reopen the same by issue of notice under section 148 of the Act.
The name of the approved organization Diabetes Research Centre Foundation, Chennai shall be read as Prof. M. Viswanathan Diabetes Research Centre, Chennai with effect from 01.04.2010.
Income Tax Department conducted searches on a prominent business group in Pune on 06/11/2019 under the Income Tax Act, 1961. The searches were conducted at various places covering the cities of Pune, Mumbai, Nagpur, Delhi, Bengaluru and Noida.
Income Tax Department conducted a search in the case of a businessman in Pune on 04/11/2019 and made a high cash seizure. The search was conducted at the residence of the businessman.
CBDT amends Notification No. 62/2019- Income Tax dated 12th September, 2019 related to E-assessment Scheme, 2019 to rectify the spelling misstates vide CORRIGENDA Notification No. 86/2019 dated: 1st November, 2019. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) CORRIGENDA New Delhi, the 1st November, 2019 Notification No. 86/2019-Income Tax S.O. 3968(E).—In the […]
CBDT amends Notification No. 61/2019- Income Tax dated 12th September, 2019 related to E-assessment Scheme, 2019 to rectify the spelling misstates vide CORRIGENDA Notification No. 85/2019 dated: 1st November, 2019. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) CORRIGENDA New Delhi, the 1st November, 2019 Notification No. 85/2019-Income Tax S.O. 3967(E).— In […]
Vision is aspirational but it is important to define the desired outcomes. The next logical step is to specify the physical action points that would result in the desired outcome. A structure for the Vision 2020 is being proposed, which also includes a format specifying the milestones over the next few years, to achieve these […]
Central Board of Direct Taxes has further released Time-series data updated up to F.Y. 2018-19 and income-distribution data for A.Y. 2018-19 (F.Y. 2017-18).
Office Order No. 221 of 2019 The following officers in the grade of Pr.CCIT/CCsIT are hereby ordered to hold the charge(s), as indicated against their names, in addition to their substantive charge/additional charge(s), if any, being held by them, with immediate effect and until further orders:
