Notification No. 14/2024-Income Tax Dated: 23rd January, 2024

The Ministry of Finance, Department of Revenue, Central Board of Direct Taxes has issued Notification No. 14/2024 on 23rd January, 2024, amending provisions of the Income Tax Act. This notification revisits previous notifications and introduces retrospective changes affecting the financial years 2020-2021 to 2024-2025.

Ministry of Finance
(Department of Revenue)
(Central Board of Direct Taxes)

Notification No. 14/2024- Income Tax | Dated: 23rd January, 2024

S.O. 327(E).—In the notifications of the Government of India, Ministry of Finance, Department of Revenue (Central Board of Direct Taxes), published in the Gazette of India, Extraordinary, Part-II, Section 3, Sub-section (ii), bearing number S.O. 2774(E) dated the 9th July, 2021, S.O. 2826(E) dated 14th July, 2021, S.O. 4523(E) dated 29 ^th October, 2021, S.O. 4525(E) dated 29^th October, 2021, S.O. 73(E) dated 6^th January, 2022, S.O. 1769(E) dated 11^th April, 2022, S.O. 1977(E) dated 28^th April, 2022, S.O. 1044(E) dated 3^rd March, 2023, S.O. 1690(E) dated 10^th April, 2023 and S.O. 2155(E) dated 10^th May, 2023, the paragraph 3 shall be read as the following, namely,-

“This notification shall be deemed to have been applied for the financial year 2020-2021 to financial year 2024-2025 relevant to the assessment year 2021-2022 to assessment year 2025-2026.”

And

In the notification of the Government of India, Ministry of Finance, Department of Revenue (Central Board of Direct Taxes), published in the Gazette of India, Extraordinary, Part-II, Section 3, Sub-section (ii), bearing number S.O. 1585(E) dated the 1^st April, 2023, the paragraph 3 shall be read as the following, namely,-

“This notification shall be deemed to have been applied for the financial year 2020-2021 to financial year 2022-2023 relevant to the assessment year 2021-2022 to assessment year 2023-2024.”

[Notification No. 14/2024 F. No. 300196/8/2020-ITA-I]

VIKAS SINGH, Director (ITA-I)

Explanatory Memorandum

It is certified that no person is being adversely affected by giving retrospective effect to this notification.