Stay updated with the latest income tax notifications for changes in tax laws, rates, and compliance requirements. Get insights into income tax updates, exemptions, deductions, and important deadlines through income tax notifications.
Income Tax : The ruling clarifies that unauthenticated digital chats and screenshots cannot form the sole basis of tax additions without proper...
Income Tax : Courts held that investment in under-construction property qualifies as construction under Sections 54/54F. Deduction cannot be de...
Income Tax : The new Act reorganises sections, rules, and forms without changing core transfer pricing principles. Taxpayers must adapt to upda...
Income Tax : The new framework eliminates mandatory renewals and replaces them with continuous monitoring. Donor eligibility now depends on sus...
Income Tax : The new law replaces time-bound approvals with continuous compliance monitoring for charitable entities. Registration now survives...
Income Tax : The issue was complexity in the existing tax law. It was clarified that the new Act simplifies structure by reducing sections and ...
Income Tax : The tax department clarified that no search or restriction was carried out against the individual. It termed the allegations basel...
Income Tax : The audit found widespread incorrect claims of deductions for bad debts and reserves. It highlights the need for stricter verifica...
Income Tax : The government replaced the six-decade-old law with the Income-tax Act, 2025. The reform aims to simplify compliance through clear...
Income Tax : A CBI court sentenced seven individuals to four years imprisonment for manipulating tax systems using forged records. The case hig...
Income Tax : The ruling clarifies that unauthenticated digital chats and screenshots cannot form the sole basis of tax additions without proper...
Income Tax : The case involved denial of deduction due to delayed execution of purchase deed. The Tribunal held that investment in an under-con...
Income Tax : Gujarat High Court upheld the deletion of a Section 271D penalty, ruling that the assessment order did not record satisfaction for...
Income Tax : Supreme Court reviews the Kakadia Builders case, addressing Settlement Commission's authority to waive interest under Sections 234...
Income Tax : We request the authority concerned to take a practical view of the problems which the assessees are facing as on date on account o...
Income Tax : The consolidation into Form 121 introduces stricter documentation and reporting obligations. The decision emphasizes accountabilit...
Income Tax : A corrigendum fixes multiple drafting and referencing mistakes in income tax rules. The update ensures clarity without altering su...
Income Tax : CBDT clarified the presentation of error categories in Form U. The update ensures clearer reporting of incorrect income heads and ...
Income Tax : The corrigendum corrects technical errors in multiple ITR schedules, including CG and CYLA. It ensures accurate reporting and smoo...
Income Tax : CBDT corrected multiple clerical and structural errors across income tax return schedules. The changes ensure accurate reporting a...
CBDT notifies Income-tax (34th Amendment) Rules, 2021 vide Notification No. 138/2021-Income Tax Dated: 27th December, 2021. Vide this CBDT inserts Income Tax Rule 2DD. Computation of exempt income of specified fund for the purposes of clause (23FF) of section 10, Notifies New Forms i.e. Form No. 10-II – Statement of exempt income under clause (23FF) of section […]
Vide Notification No. 11 of 2021 CBDT appointed 165 Assistant Commissioners of Income Tax (Junior Scale) as Deputy Commissioner of Income Tax (Senior Time Scale) in Level 11 in the Pay Matrix Rs.67,700-2,08,700/- w.e.f. 01.01.2022 or the date of assumption of charge, whichever is later. Government of India Ministry of Finance Department of Revenue Central […]
Notification No. 10 of 2021 – The following Assistant Commissioners of Income Tax (Junior Scale) are, hereby, appointed as Deputy Commissioner of Income Tax (Senior Time Scale) in Level 11 in the Pay Matrix Rs.67,700-2,08,700/-, w.e.f. 01.01.2022 or the date of assumption of charge, whichever is later
National Chamber of Industries & Commerce, U.P. has made a representation to Hon’ble Union Minister for Finance and made 27 Suggestion related to Union Budget 2022. Suggestion includes request for Rationalization of Rate Of Tax On Firms/LLP, Enhancement of Section 80C Limit, Allowability Of CSR Expenditure, Amendment To section 54 to Incorporate More Than One […]
Functionality in Rectification Module of ITBA to pass online (web service) rectification order on Orders u/s 143(3), 144, 147, 153A & 153C of the Income Tax Act,1961 uploaded through Manual Order Upload Functionality for AY 2013-14 to AY 2019-20.
(1) The scope of e-Verification Scheme, 2021shall be in respect of: (i) calling for information under section 133 of the Act; (ii ) collecting certain information under section 133B of the Act; (iii) calling for information by the prescribed income-tax authority under section 133C of the Act; (iv) exercise of power to inspect registers of companies under section 134 of the Act; and (v) exercise of power of Assessing Officer under section 135 of the Act.
Rule 21AK. Conditions for the purpose of clause (4E) of section 10.- (1) The income accrued or arisen to, or received by, a non-resident as a result of transfer of non-deliverable forward contracts under clause (4E) of section 10 of the Act, shall be exempted subject to fulfillment of the following conditions, namely: ─
CBDT directs that the Assessing Officers shall identify the following categories of information pertaining to Assessment Year 2015-16 and Assessment Year 2018-19, which may require action under section 148 of the Act, for uploading on the Verification Report Upload (VRU) functionality on Insight portal
Protocol amending the Agreement between the Government of the Republic of India and the Government of the Kyrgyz Republic for the Avoidance of Double Taxation and for the Prevention of Fiscal Evasion with respect to taxes on income signed at New Delhi on 13th April, 1999.
t is informed that the functionality in ITBA for passing Give Effect Orders through Web Service on Processing u/s 143(1) of the Income-tax Act’ 1961 for A.Y. 2016-17 was deployed earlier. Now functionality for Give Effect on Assessment through Web service for A.Y. 2016-17 is also live in ITBA w.e.f. 29.10.2021.
