Income Tax

F.No. A-22011/3/2017-Ad-VI (Pt.) Government of India Ministry of Finance Department of Revenue (Central Board of Direct Taxes) North Block, New Delhi -110 001. Date: 08.01.2018. Order No. 6 of 2018 Th...

Central Government hereby notifies that all the provisions of amending Protocol entered into between India and Brazil shall have effect in the Union of India with effect from the 6th day of August, 20...

Relaxation in the provisions relating to levy of Minimum Alternate Tax (MAT) in case of companies against whom an application for corporate insolvency resolution process has been admitted under the In...

Issue/Justification Earlier under Section 10(23FB) of Income-tax Act, any income of a Venture Capital Company (VCC) or Venture Capital Fund (VCF) set up to raise funds for investment was exempt from t...

Reintroduction of standard deduction for salaried assessees under Section 16 Issue/Justification Salaried employees are not allowed deduction of any expenses incurred during the course of the employme...

Issue/Justification Under section 17 of the Income tax Act, medical reimbursements to employees are exempted from tax up to Rs. 15,000 per annum. Further, the expenditure incurred by the employer for...

Issue/Justification As per the prevalent norm, the employees are required to serve notice within the stipulated time before leaving the organisation. The notice period, however, varies from organisati...

Income of minors – to increase exemption limits under section 10(32) Issue/Justification At present income of minors included in the hands of parents is exempt to the extent of Rs.1,500/- for each min...

DEDUCTION OF TAX AT SOURCE- INCOME-TAX DEDUCTION FROM SALARIES UNDER SECTION 192 OF THE INCOME-TAX ACT, 1961 DURING THE FINANCIAL YEAR 2017-18 CIRCULAR NO : 29/2017 F.No. 275/192/2017-IT(B) Government...

Order No. 3 of 2018 – Extension of the ad-hoc appointment of Income Tax Officers to the grade of Assistant Commissioner of Income Tax – reg. F.No. A-32013/1/2016-Ad.VI Government of India Ministry of...

CBI ARRESTS AN INCOME TAX OFFICER WHILE ACCEPTING BRIBE OF RS. ONE LAKH The Central Bureau of Investigation has today arrested an Income Tax Officer, Ward-34 (1) (4), Mumbai for demanding and acceptin...

GOI announces launch of 7.75% Savings (Taxable) Bonds, 2018 commencing from 10th January 2018 Posted On: 04 JAN 2018 by PIB Delhi Government of India has announced to launch of 7.75% Savings (Taxable)...

New Delhi, January 3, 2018: Considering that costs pertaining to finance, energy and logistics/transportation constitute major portion of consumer electronics sector, apex industry body ASSOCHAM has r...

F. No. A-32011/4/2017Ad.VIGovernment of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Direct TaxesNorth Block, New Delhi.The 29th December, 2017.ORDER NO. 221 OF 2017 Consequent upon t...

F. No. A-32012/3/2017-Ad.VIGovernment of IndiaMinistry of FinanceDepartment of Revenue(Central Board of Direct Taxes)North Block, New DelhiDate: 29th December, 2017.ORDER NO. 220 OF 2017The President...

F No. A-32012/1/2016-Ad.VIGovernment of IndiaMinistry of FinanceDepartment of Revenue(Central Board of Direct Taxes)North Block, New Delhi,The 29th December, 2017.ORDER NO. 219 OF 2017The President is...

Revised e-Filing Helpdesk number for General Queries related to Income Tax, Rectification, Refund, Intimation and other Income Tax Processing Related Queries, e-Filing of Income Tax Return or Forms an...

Issue/JustificationAny sum received under a Keyman insurance policy is not exempt under section 10(10D). The meaning of “Keyman Insurance Policy” given in Explanation 1 to section 10(10D) was amended...

Issue/JustificationThe 15th Proviso to Section 10(23C) states that application for obtaining approval under this section shall be made on or before 30th September of the relevant assessment year from...

Issue/JustificationUnder section 10(23C)(iiiad) and (iiiae) of Income-tax Act, it is provided that the income of University/Educational institutions/hospitals/ other institutions specified therein wil...