May 9, 2020

Eligible CSR Payments should be Deducted while Computing Business Income: ITAT

The Income Tax Appellate Tribunal (ITAT) redirected the issue to the Assessing Officer (AO) as the authorities have erred in denying a claim under Section 80G of the Income Tax Act, 1961 by observing that the CSR payments eligible under the said provision shall be deducted at the time of computation of the head “Profit…

CBDT notifies Donations to ‘Shri Ram Janmbhoomi Teerth Kshetra’ eligible for Income Tax Deduction

CBDT notifies Donations to ‘Shri Ram Janmbhoomi Teerth Kshetra’ eligible for Income Tax Deduction .The Central Board of Direct Taxes (CBDT) on Friday notified that the donations made to ‘Shri Ram Janmbhoomi Teerth Kshetra’ are eligible for deduction under Section 80G of Income Tax Act, 1961. The Central Government notified the donations to be eligible…