#income tax act
Log in to FollowThe income tax act defines Income tax and laws related to income tax. It covers income tax levy, collection, administration, and recovery. Income tax acts and income tax laws get changed/updated from time to time. Read our Latest News and Updated on the Income-tax act and Articles on the income tax act to understand the income tax act and its sections. Read our articles to understand income tax act section 10, income tax act section 24, income tax act section 54, income tax act section 80c, income tax act 44ad, income tax bare act, etc.

Bonus stripping under the Income tax lens

Notification No. 3/2010-Income Tax Dated 12-1-2010

TDS on Salaries-Income Tax Provisions for Financial Year 2009-2010

If a trust fulfills all conditions of section 12A/12AA, registration cannot be denied on ground that some conditions of section 11 and 12 not fulfilled

NBFCs not entitled to deduction of any provision created for bad and doubtful debts

TDS is not required to be deducted from royalty payment made for distribution and marketing of cinematographic films on DVD and VCD

Government may introduce DTC in the forthcoming budget session

Consultation on DTC over, new structure may be finalised soon
Bankers may meet RBI on 14th to discuss relaxation in lending norms

Section 194A of the Income-tax Act, 1961- Deduction of tax at source – Interest other than interest on securities – Notified institution

AO not justified in adjustment to a international transaction whose arm’s length character is accepted by Transfer Pricing Officer (TPO)

Foreign company having Permanent Establishment in India cannot be taxed at the rate applicable to domestic company

Income from transfer of leased premises is taxable as Capital Gains under the Income-tax Act

