India's income tax laws are subject to periodic revisions. Read Our Latest News and Updated on Income-tax, Articles on income tax India to understand income tax slab, Income tax e-filing, income tax refund, income tax return, income tax act, income tax e payment, etc
CA, CS, CMA : The article summarizes important notifications, circulars, judicial rulings, and regulatory changes issued between 11–17 May 202...
Income Tax : The Bombay High Court held that reopening for AY 2016–17 becomes invalid when sanction is obtained from an authority not prescri...
CA, CS, CMA : The week witnessed important rulings on benami transactions, GST natural justice violations, and misuse of insolvency proceedings....
Income Tax : A comprehensive guide explaining taxation of house property income, annual value computation, deemed ownership, and deductions und...
CA, CS, CMA : This update compiles key statutory deadlines across multiple laws for May 2026. It highlights filing requirements under income tax...
Income Tax : The Government clarified that the new income tax search provision does not expand powers or permit AI-based digital surveillance, ...
Income Tax : The government responds to queries on corporate tax, including notices, prosecutions, and collections over the past five years....
Income Tax : Explore the Malad Chamber of Tax Consultants' 2024 Pre-Budget Memorandum proposing crucial amendments to the Income Tax Act, 1961,...
Income Tax : Live Webinar on Section-43B(h) of Income Tax Act, 1961 read with Section-2, 7-8, 15-16-17 of MSMED Act 2006 on 03-03-2024- SundayÂ...
Income Tax : Live webinar – Taxation Critical Issues & Solution Did you know our Indian Tax System is extremely vulnerable? Let me te...
Income Tax : The court directed the Board of Advance Rulings to expedite the disposal of a pending application under Section 245Q, ensuring tim...
Income Tax : The High Court allowed a religious society to submit delayed audit documents, citing the treasurer’s age and Covid-19 as valid r...
Income Tax : The Kerala High Court has temporarily halted income tax recovery proceedings against Palode Service Co-Operative Bank Ltd a Primar...
Income Tax : The Delhi High Court dismissed the Revenue's appeals in CIT-1 v. Casio India Co. Pvt. Ltd. for AY 2012-13 and 2013-14, affirming t...
Income Tax : The Tribunal found the addition uncalled for. cash deposits from the sale of old vehicles, accepted as genuine sales by the AO, ca...
Income Tax : CBDT Notification 150/2025 grants income tax exemption to the Jhansi Development Authority under Section 10(46A), effective from A...
Income Tax : The Central Board of Direct Taxes has granted income tax exemption to the Parambikulam Tiger Conservation Foundation on specific i...
Income Tax : CBDT notification details income tax exemption for Mysore Palace Board. Covers income from palace, fees, rent from government agen...
Income Tax : West Bengal Transport Workers' Social Security Scheme receives tax exemption for specified income under Income-tax Act for AY 2021...
Income Tax : Read about the latest income tax notification specifying AIMCo India Infrastructure Pension Fund for tax exemption under section 1...
Section 206AB of the Income Tax Act is recently introduced vide the Finance Act, 2021. Section 206AB mandates the person to deduct TDS in case of non-filing of an income tax return by the specified person. The present article briefly explains the provisions of section 206AB; the meaning of the term specified person; rate of […]
Belated Return and Revised Return for the Assessment Year 2020-21 may be filed on or before 31st May, 2021 In view of the adverse circumstances arising due to the severe Covid-19 pandemic, the CBDT, in exercise of its powers under Section 119 of the Income Tax Act, 1961 (‘the IT Act’), has issued a Circular […]
CBDT notifies ‘Chiswick Investment Pte. Ltd.’ as sovereign wealth fund under sub-clause (vi) of clause (b) of the Explanation 1 to clause (23FE) of section 10 of the Income-tax Act, 1961 vide Notification No. 55/2021 -Income Tax Dated: 5th May 2021. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) New Delhi Notification […]
CBDT notifies ‘Dagenham Investment Pte. Ltd.’ as sovereign wealth fund under sub-clause (vi) of clause (b) of the Explanation 1 to clause (23FE) of section 10 of the Income-tax Act, 1961 vide Notification No. 53/2021 -Income Tax Dated: 5th May 2021. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) New Delhi Notification […]
CBDT notifies ‘Bricklayers Investment Pte. Ltd.’ as sovereign wealth fund under sub-clause (vi) of clause (b) of the Explanation 1 to clause (23FE) of section 10 of the Income-tax Act, 1961 vide Notification No. 51/2021 -Income Tax Dated: 5th May 2021. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) New Delhi Notification […]
CBDT notifies rules for LTC (Leave Travel Concession) Cash Voucher Scheme [Section 10(5)] vide which LTC Exemption of Rs. 36000 per family member For FY 2020-21 available to Employees of Both Private & Government Sector. Rules are notified vide Notification No. 50/2021-Income Tax Dated: 5th May, 2021 by inserting Sub-Rule 1A & IB in Rule […]
In this write up, we are going to discuss the taxability, under Income Tax Law, where a private limited company issues share at a price which is more than its Face Value. Section 56(2)(Viib) of Income Tax Act, 1961, stipulates as follows:- where a company, not being a company in which the public are substantially […]
CBDT notifies pension fund, namely, ‘Ivanhoe Logistics India Inc.’ under sub-clause (iv) of clause (c) of the Explanation 1 to clause (23FE) of section 10 of the Income-tax Act, 1961Â in respect of the eligible investment made by it in India on or after 4th May 2021 but on or before the 31st day of […]
CBDT notifies pension fund, namely, ‘Ivanhoe Logistics India Inc.’ under sub-clause (iv) of clause (c) of the Explanation 1 to clause (23FE) of section 10 of the Income-tax Act, 1961Â in respect of the eligible investment made by it in India on or after 4th May 2021 but on or before the 31st day of […]
CBDT notifies pension fund, namely, ‘CDPQ Infrastructures Asia III Inc’. under sub-clause (iv) of clause (c) of the Explanation 1 to clause (23FE) of section 10 of the Income-tax Act, 1961Â in respect of the eligible investment made by it in India on or after 4th May 2021 but on or before the 31st day […]
