Opportunity to furnish unsecured-loan confirmations is required before reassessment initiation; proceedings require fresh consideration after taxpayer...
Under-reporting on a first reassessment return attracts penalty, while enhanced misreporting penalty requires proof of a statutory misreporting catego...
The Income-tax Rules, 1962 were amended by a 2025 notification to modify rule 21AIA: sub-rule (4) is omitted and the Explanation is replaced so that "specified fund" is defined by reference to sub-clause (i) of clause (c) of the Explanation to clause (4D) of section 10 of the Act. The amendment takes effect on publication in the Official Gazette and forms part of the Twenty-Fourth Amendment to the Income-tax Rules.
The Income-tax Rules, 1962 were amended by a 2025 notification to modify rule 21AIA: sub-rule (4) is omitted and the Explanation is replaced so that "specified fund" is defined by reference to sub-clause (i) of clause (c) of the Explanation to clause (4D) of section 10 of the Act. The amendment takes effect on publication in the Official Gazette and forms part of the Twenty-Fourth Amendment to the Income-tax Rules.
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