Stay updated with the latest income tax notifications for changes in tax laws, rates, and compliance requirements. Get insights into income tax updates, exemptions, deductions, and important deadlines through income tax notifications.
CA, CS, CMA : Key updates from Income Tax, GST, DGFT, RBI, and more for the week ending 29th Dec 2024....
CA, CS, CMA : Review of significant legal, tax, GST, and SEBI updates during the week ending 22nd December 2024, including new guidelines and ju...
CA, CS, CMA : Explore tax & GST updates for Nov 25–Dec 1, 2024, including safe harbour for diamonds, GST e-invoicing, HC rulings, Section 194N...
CA, CS, CMA : Summary of key notifications in Income Tax, GST, SEBI, and IBBI regulations during the week of Nov 18-24, 2024, covering filing pr...
Income Tax : The Vivad Se Vishwas Scheme 2024 simplifies tax dispute resolution, offering discounts and waivers to reduce litigation burden. Se...
Income Tax : Learn about advance tax, who needs to pay it, due dates, payment methods, penalties, and exceptions. Understand advance tax instal...
Income Tax : The Institute of Cost Accountants of India seeks inclusion of Cost Accountants in the definition of "Accountant" under Section 515...
Income Tax : Government addresses Supreme Court judgment on tax exemptions for clergy and its implications on Hindu Undivided Families (HUFs) u...
Income Tax : Analysis of tax exemptions for individuals vs corporations, middle-class benefits, and the impact of measures under the new tax re...
Income Tax : Details on tax incentives for corporates, revenue loss since 2020, monitoring mechanisms, emerging sector benefits, and job creati...
Income Tax : Supreme Court reviews the Kakadia Builders case, addressing Settlement Commission's authority to waive interest under Sections 234...
Income Tax : We request the authority concerned to take a practical view of the problems which the assessees are facing as on date on account o...
Income Tax : The issue to be considered is whether the profit earned by the assessee from the activity of recruitment and training of personne...
Income Tax : Details of the Lok Sabha Select Committee's sittings on March 6-7, 2025, to examine the Income-Tax Bill, 2025, with oral evidence ...
Income Tax : CBDT updates income tax rules and forms for business and securitization trusts. Notification 17/2025 amends Rules 12CA & 12CC, imp...
Income Tax : Key updates on income tax deduction from salaries under Section 192 for FY 2024-25, including amendments, surcharge rates, and new...
Income Tax : CBDT extends the due date for filing Form 56F under Section 10AA(8) and 10A(5) of the Income-tax Act, 1961, to March 31, 2025, for...
Income Tax : The Indian government is set to introduce the new Income Tax Bill, 2025, in the Lok Sabha on February 13, 2025. This comprehensive...
Notification No.198/2005 – Income Tax S.O. 1260(E).— In exercise of the powers conferred by clause (6C) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby declares that any income arising to ‘M/s. BAe Systems (Operations) Limited’, Warwick House, P.O. Box 87, Faraborough Aerospace Centre, Faraborough, Hampshire, GU14 6YU, United Kingdom and ‘M/s. Rolls Royce
Notification No.197/2005 – Income Tax In exercise of the powers conferred under section 295 read with sub-clause(ii ) of clause (14) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely
Notification No.196/2005 – Income Tax In exercise of the powers conferred by sub-sections (1) and (2) of section 120 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following amendments in the notification of the Government of India, Ministry of Finance (Department of Revenue), Central Board of Direct Taxes, Number S.O. 994(E) dated the 9th September, 2004, namely
Circular No. 8 of 2005-Income Tax The Finance Act, 2005 has introduced a new levy, namely, Fringe Benefit Tax (hereafter referred to as FBT) on the value of certain fringe benefits. The provisions relating to levy of this tax are contained in Chapter XII-H (sections 115W to 115WL) of the Income-tax Act, 1961. This circular seeks to provide a harmonious, purposive and contextual interpretation of the provisions of the Finance Act, 2005 relating to the FBT so as to further the objective of this levy
07/2005 Annual Information Return (AIR) of ‘high value financial transactions’ is required to be furnished under section 285BA of the Income-tax Act, 1961 by ‘specified persons’ in respect of ‘specified transactions’ registered or recorded by them during the financial year. The due date of filing of the return is the 31st of August of the following year.
Circular No. 07/2005-Income Tax Section 285BA of the Income-tax Act, 1961 requires certain specified persons (filers) to file an Annual Information Return (AIR) in respect of specified financial transactions registered or recorded by him during a financial year. The nature of the transactions and the threshold value above which information has to be submitted in the AIR are prescribed in the Table in Rule 114E of IT Rules, 1962, a copy of which is enclosed as Annexure A. Rule 114E has been amended vide notification no.182/2005 dated 11.7.2005. The form in which the return is to be filed is Form
Notification No.195/2005 – Income Tax It is hereby notified for general information that the organization Himalayan Institute Hospital Trust, Jolly Grant, Dehradun – 248140 (Uttranchal) has been approved by the Central Government for the purposes of clause (ii) of sub-section (1) of section 35 of the Income Tax Act, 1961, read with rule 6 of the Income tax Rules, 1962 for the period from 1-4-2001 to 31-3-2004 under the
Notification No.194/2005 – Income Tax It is hereby notified for general information that the organization The Voluntary Health Services, T.T.T.I. Post (Adyar), Chennai-600113 has been approved by the Central Government for the purposes of clause (ii) of sub-section (1) of section 35 of the Income Tax Act, 1961, read with rule 6 of the Income tax Rules, 1962 for the period from 1-4-2003 to 31-3-2006 under the
Notification No.193/2005 – Income Tax It is hereby notified for general information that the organization Banaras Hindu University, Varanasi – 221 005 (Uttar Pradesh) has been approved by the Central Government for the purposes of clause (ii) of sub-section (1) of section 35 of the Income Tax Act, 1961, read with rule 6 of the Income tax Rules, 1962 for the period from 1-4-2004 to 31-3-2007 under the category
this notification will not apply in relation to any income being profits and gains of business, unless the business is incidental to the attainment of the objectives of the assessee and separate books of accounts are maintained in respect of such business
