No deduction of income-tax under Chapter XVII on payments received by a credit guarantee fund established and wholly financed by the Central Government and managed by the National Credit Guarantee Trustee Company Limited MINISTRY OF FINANCE(Department of Revenue) Notification No. 2/2025 New Delhi, the 2nd January, 2025 (INCOME-TAX) S.O. …

No deduction of income-tax under Chapter XVII on the payments received by the National Credit Guarantee Trustee Company Limited MINISTRY OF FINANCE (Department of Revenue) Notification No. 1/2025 New Delhi, the 2nd January, 2025 (INCOME-TAX) S.O. 19(E).—In exercise of the powers conferred by sub-section (1F) of section 197A …

No deduction of tax to be made under the provisions of section 194Q of the said Act by a buyer, in respect of purchase of goods from a Unit of International Financial Services Centre- CBDT MINISTRY OF FINANCE(Department of Revenue) Notification No. 3/2025 New Delhi, the 2nd January, …

Revision u/s 263 upheld as AO accepted creditworthiness of lender merely on the basis of acknowledgement of ITRs In a recent judgment, ITAT Pune has upheld the revision u/s 263 where Assessing Officer accepted the creditworthiness of the lender merely on the basis of the copies of the …

Clarification regarding treatment & accounting of refund of TDS pertaining to Foreign Contribution The Ministry of Home Affairs (FCRA Division) has issued a clarification regarding refund of TDS pertaining to Foreign Contribution. The clarification has been issued in response to the repesentation received from Associations over the difficulties …

Delay of 1 and ½ years cannot be considered as inordinate delay unless negligence or want of due diligence on the part of assessee is shown – ITAT  In a recent judgment, ITAT Cuttack while condoning the delay in filing appeal observed that delay of 1 and ½ …