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Income Tax Rules

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 399 items in 8 pages
1Short title and commencement
2Definitions
2ALimits for the purposes of section 10(13A)
2BConditions for the purpose of section 10(5)
2BAGuidelines for the purposes of section 10(10C)
2BBPrescribed allowances for the purposes of clause (14) of section 10
2BBACircumstances and conditions for the purposes of clause (19) of section 10
2BCAmount of annual receipts for the purposes of sub-clauses (iiiad) and (iiiae) of clause (23C) of section 10
2CGuidelines for approval under sub-clauses (iv) and (v) of clause (23C) of section 10
2CAGuidelines for approval under sub-clauses (vi) and (via) of clause (23C) of section 10
2DGuidelines for approval under clause (23F) of section 10
2DAGuidelines for approval under clause (23FA) of section 10
2EGuidelines for approval under clause (23G) of section 10
2FGuidelines for setting up an Infrastructure Debt Fund for the purpose of exemption under clause (47) of section 10
3Valuation of perquisites
3AExemption of medical benefits from perquisite value in respect of medical treatment of prescribed diseases or ailments in hospitals approved by the Chief Commissioner
4Unrealised rent
5Depreciation
5AForm of report by an accountant for claiming deduction under section 32(1)(iia)
5AAPrescribed authority for investment allowance
5ABReport of audit of accounts to be furnished under section 32AB(5)
5ACReport of audit of accounts to be furnished under section 33AB(2)
5ADReport of audit of accounts to be furnished under section 33ABA(2)
5BDevelopment rebate
5CGuidelines, form and manner in respect of approval under clause (ii) and clause (iii) of sub-section (1) of section 35
5DConditions subject to which approval is to be granted to a research association under clause (ii) or clause (iii) of sub-section (1) of section 35
5EConditions subject to which approval is to be granted to a University, College or other Institution under clause (ii) and clause (iii) of sub-section (1) of section 35
5FPrescribed authority, guidelines, form, manner and conditions for approval under clause (iia) of sub-section (1) of section 35
6Prescribed authority15 for expenditure on scientific research
6APrescribed authority, services, etc., for agricultural development allowance
6AAPrescribed activities for export markets development allowance
6AAAPrescribed authority for the purposes of sections 35CC39 and 35CCA
6AABStatement of expenditure for claiming deduction under section 35CC
6AACPrescribed authority for the purposes of section 35CCB
6AADGuidelines for approval of agricultural extension project under section 35CCC
6AAEConditions subject to which an agricultural extension project is to be notified under section 35CCC
6AAFGuidelines for approval of skill development project under section 35CCD
6AAGConditions subject to which a skill development project is to be notified under section 35CCD
6AAHMeaning of expressions used in rule 6AAF and rule 6AAG
6ABForm of audit report for claiming deductions under sections 35D and 35E
6ABAComputation of aggregate average advances for the purposes of clause (viia) of sub-section (1) of section 36
6ABAAInfrastructure facility under clause (d) of the Explanation to clause (viii) of sub-section (1) of section 36
6ABBForm of report for claiming deduction under clause (xi) of sub-section (1) of section 36
6ACLimits and conditions for allowance of expenditure in certain cases
6BExpenditure on advertisement
6CExpenditure on residential accommodation including guest houses
6DExpenditure in connection with travelling, etc
6DDCases and circumstances in which a payment or aggregate of payments exceeding twenty thousand rupees may be made to a person in a day, otherwise than by an account payee cheque drawn on a bank or account payee bank draft
6DDAConditions that a stock exchange is required to fulfil to be notified as a recognised stock exchange for the purposes of clause (d) of proviso to clause (5) of section 43
6DDBNotification of a recognised stock exchange for the purposes of clause (d) of proviso to clause (5) of section 43

News Section

News

11 Mar 25
Gujarat HC Quashes GST Order for Adjudicating Authority’s Failure to Consider Taxpayer’s Hearing Request
Calcutta HC Upholds GSTIN Cancellation Over Non-Response to GST Notice and Lack of Business Presence
Mumbai ITAT Directs Rental Income from Factory Premises to be Assessed per Section 57 of Income Tax Act
GST Officers Detect ?1.95 Trillion Tax Evasion in 25,397 Cases During April-January
10 Mar 25
GST Council Reconstitutes GoM with Revised Mandate to Analyze GST Revenue Trends
FM Sitharaman Hints at Major GST Rate Cut
Gross GST collections grow 9.1% to Rs 1.84 lakh crore in February
09 Mar 25
Gujarat HC Upholds Assessee’s Right to Interest on Refund Under Vivad se Vishwas Scheme
Supreme Court: Phone Charger Included in MRP, No Separate Tax Under UP VAT
ICAI Urges Govt to Reduce Complexity in Income Tax Bill 2025, Proposes Key Changes
08 Mar 25
IT Dept Warns Taxpayers of Scam Calls and Fake Income Tax Refund Messages
New TDS & TCS Regulations Effective April 1: Details Inside
Delhi High Court: No Provision for Cross-Objections Under Section 260A of the Income Tax Act
05 Mar 25
ICAI Advocates Progressive Taxation: Key Suggestions Considered in Union Budget 2025
Haryana’s GST Revenue Reaches INR 9,925 Crore, Up 20% in February 2025
MCA Sets March-End Deadline for Probe Reports in 100+ Long-Pending Cases
Gauhati High Court Upholds Validity of CGST Rule 36(4) on GST ITC Claims
04 Mar 25
GSTN Enhances Biometric Authentication for Directors: Home State Option Now Available
Karnataka HC: GST ITC Refund Cannot Be Denied Due to Supplier’s Non-Issuance of Credit Note
Delhi HC: [Income Tax Act] Section 292B Can’t Shield Tax Orders with Apparent Errors
Supreme Court Rejects Revenue’s Plea Against Standard Chartered Bank on GST TRAN-01 Filing via Alternate Portal
03 Mar 25
Jharkhand HC: Retaining Excess Tax After Demand Reduction Violates Articles 14 and 265
GST Collections in February 2025 Surge 9.1% to Rs 1.83 Lakh Crore
02 Mar 25
49th Civil Accounts Day: FM Highlights PFMS`s Role in Digital Governance
RBI: 98.18% of Rs 2000 Notes Returned, Rs 6,471 Crore Still Circulating
01 Mar 25
SC Upholds GST Act’s Arrest and Summons Powers, Affirming Parliament’s Legislative Authority
27 Feb 25
Supreme Court to Rule on Extension of GST SCN Adjudication Timeline Under CGST Act
Allahabad HC: No Tax Evasion If E-Tax Invoice Missing Due to GST Portal Glitch
New Delhi CESTAT: Duty Payable on SEZ Imports Sold in Domestic Tariff Area
Allahabad HC Quashes INR 2.11 Cr GST Demand Order U/S 74 Due to Lack of Hearing Details
26 Feb 25
CBDT Mandates E-Filing for Business Trusts & AIFs Under New Tax Rules
Delhi HC: AO Must Form Prima Facie Opinion Before Rejecting Section 197 Application for Nil or Lower TDS
Bangalore ITAT Sets Aside Assessing Officer’s PE Classification, Orders Fresh Review
ITAT Jaipur: ?12 Lakh Addition U/S 69A Unjustified; Sundry Debtors Not Unexplained Income
20 Feb 25
CBDT Extends Due Date for Filing Form No. 56F for AY 2024-25
FTS (Fee For Technical Services) U/S 9(1)(vii) Covers Specialized Knowledge Transfer: Delhi HC
CESTAT New Delhi: Multiple Bills of Entry or Shipping Bills Cannot Be Consolidated for Assessment
Punjab FM Conducts GST Registration Drives to Broaden the Tax Base
18 Feb 25
GST Update: Form ENR-03 Introduced for Unregistered Dealers to Generate E-Way Bills
Orissa HC Sets Aside Tax Penalty Order Under Section 74 for Overlooking Assessee’s GST Payments
Gujarat HC: Future Amendment on Goodwill Depreciation Cannot Justify Reopening FY 2017-18 Assessment
SC: No Penalty U/S 271AAA for Undisclosed Income with Voluntary Disclosure and Tax Payment
Orissa HC Quashes GST Penalty Under Section 74 Citing Jurisdictional Error
17 Feb 25
Aadhaar Authentication: Latest Indian GST Update
16 Feb 25
New GST Advisory for Biometric-based Aadhaar Authentication in MH and LD
CBDT Notification No. 16/2025: Tax Exemption for RERA Punjab U/S 10(46A)
GSTN Introduces Form ENR-03 for Enrolment of Unregistered Dealers on E-Way Bill Portal
15 Feb 25
New Income Tax Bill 2025 Retains Existing NRI Residency Rules
Delhi HC: DGGI and State GST Authorities Cannot Conduct Parallel Probes on the Same Issue
ITAT Delhi Upholds Deletion of INR 6.80 Crore Addition U/S 69C for Alleged Bogus Purchases
03 Jan 25
Income Tax Dept to Launch Nationwide Crackdown on 40K TDS/TCS Defaulters
Income Tax Department to Update ITR Forms for Section 87A Tax Rebate Claims for FY 2023-24
MCA Extends Timeline for Filing CSR Reports to 31st March 2025
IT Dept Releases Utilities for ITR-5, ITR-6, and ITR-7 Filing
GST Cir 242/36/2024: Place of Supply for Online Services to Unregistered Recipients

Due Date Reminder

Jan Feb Mar Apr May June
July Aug Sep Oct Nov Dec
All
13 Mar 25 Optional Upload of B2B invoices, Dr/Cr notes for February under QRMP scheme.
13 Mar 25 Monthly Return by Non-resident taxable person for February.
13 Mar 25 Monthly Return of Input Service Distributor for February.
15 Mar 25 ESI payment for February.
15 Mar 25 E-Payment of PF for February.
15 Mar 25 Payment of balance Advance Income Tax by ALL.
15 Mar 25 Details of Deposit of TDS/TCS of February by book entry by an office of the Government.
17 Mar 25 Issue of TDS Certificate u/s 194-IA for TDS deducted on Purchase of Property in January.
17 Mar 25 Issue of TDS Certificate for tax deducted on rent above 50,000 pm by certain individuals/HUF under Section 194-IB where lease has terminated in January.
17 Mar 25 Issue of TDS Certificate for tax deducted u/s 194M on certain payments by individual/HUF in January.
17 Mar 25 Issue of TDS Certificate for tax deducted u/s 194S on Virtual Digital Assets in January.
20 Mar 25 Monthly Return by persons outside India providing online information and data base access or retrieval services, for February.
20 Mar 25 Add/amend particulars (other than GSTIN) in GSTR-1 of February. It can be filed after filing of GSTR-1 but before filing corresponding GSTR-3B.
20 Mar 25 Summary Return cum Payment of Tax for February by Monthly filers. (other than QRMP).
25 Mar 25 Deposit of GST of February under QRMP scheme.
28 Mar 25 Return by persons with Unique Identification Number (UIN) like embassies etc to get refund under GST for goods and services purchased by them, for February .
30 Mar 25 Deposit of TDS on payment made for purchase of property in February.
30 Mar 25 Deposit of TDS u/s 194-IB @ 5% on total payment of Rent more than 50,000 pm by individual or HUF (not liable to tax audit) during FY 24-25, where lease has terminated in February (Else TDS is to be deposited on annual basis by 30 April of next year.)
30 Mar 25 Deposit of TDS u/s 194M for February.
30 Mar 25 Deposit of TDS on Virtual Digital Assets u/s 194S for February.
31 Mar 25 Standalone Annual Report on Corporate Social Responsibility by Companies to whom CSR is applicable for FY 23-24.
31 Mar 25 Quarter 4 – Board Meeting of All Companies
31 Mar 25 Opt for Composition scheme for FY 2025-26. Existing ones are not required to apply again.
31 Mar 25 Online Application for Letter of Undertaking (LUT) for Exports & Supplies to SEZ without payment of tax in FY 2025-26.
31 Mar 25 For FY 25-26, GTA can change from Forward Charge mechanism to RCM or vice-versa by e-filing necessary declaration.
31 Mar 25 File GSTR-9C for FY 17-18 to 22-23, to avail waiver of late fee from the date of filing of GSTR-9 for the relevant year.
31 Mar 25 Registration as Input Service Distributor (ISD) is mandatory where taxable person has branches in different states and receives common input tax credit at HO.
31 Mar 25 Payment of balance Advance Income Tax by ALL to save interest u/s 234B.
31 Mar 25 Payment of life insurance premium, deposit of PPF etc. for saving tax of FY 24-25 under old regime.
31 Mar 25 Uploading of Statement of foreign income offered to tax and tax deducted or paid on such income in previous year 2023-24, to claim foreign tax credit if ITR furnished within the time specified under section 139(1) or section 139(4).
31 Mar 25 Pay Outstanding dues of Micro & Small Enterprises of FY 24-25 to avoid disallowance u/s 43B. No Relief of payment till due date of ITR.
31 Mar 25 Relief from interest and penalties for non-fraudulent GST demand notices issued u/s 73 if full tax amount is paid by March 31, 2025. Applicable for FY 2017-18, 2018-19 & 2019-20.
31 Mar 25 Updated ITR for AY 2023-24 with 25% of aggregate tax and interest payable.
31 Mar 25 Calculation of Aggregate Turnover of F.Y. 24-25 for various compliances related to F.Y. 25-26 like for QRMP scheme, Composition scheme, E-invoice applicability etc.
31 Mar 25 Updated ITR for AY 2022-23 with 50% of aggregate tax and interest payable.
31 Mar 25 File Correction statements of FY 2007-08 to 2018-19, as wef 1 April, 2025, it is not allowed beyond 6 years from end of financial year in which due date falls.
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