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 issue addressed complexity arising from multiple TDS declaration forms. The new framework replaces them with a single Form 121...
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 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...
Circular : No. 136 -Income Tax The Board have examined the question whether the provisions of section 4(1)( a) should be invoked in cases where the consideration for the transfer of property is determined, fixed or approved by the Central Government or the Reserve Bank of India. It has been decided that when any property is transferred and the consideration for such transfer is determined, fixed or approved by the Central
Notification: S.O.1605 It is hereby notified for general information that the institution mentioned below has been approved by the Indian Council of Social Science Research, the prescribed authority for the purposes of clause (iii) sub-section (1) of section 35 of the Income-tax Act, 1961 for a period of three years in the first instance. The trustees will send to the Ind
Notification: S.O.1659 It is hereby notified for general information that the institution mentioned below has been approved by the Indian Council of Social Science Research, the prescribed authority for the purposes of clause (iii) of sub-section (1) of section 35 of the Income-tax Act, 1961. This notification will take effect from 1st April, 1973.
Notification: S.O.1658 Section(s) Referred: 35 ,35(1) ,35(1)(iii) – Institution – T. S. Narayanaswami Institute of Social and Business Research, Madras. This notification will take effect from 1st April, 1973
It is hereby notified for general information that the Cellulosics Consultants (India) Private Ltd., New Delhi has been approved by the Central Board of Direct Taxes for the purposes of sub-section (2) of section 35D of the Income-tax Act, 1961 (43 of 1961).
Notification: S.O.143 In exercise of the powers conferred by sub-section (3) of section 230A of the Income-tax Act, 1961, (43 of 1961), the Central Board of Direct Taxes hereby notifies that the provisions of sub-section (1) of the said section shall not apply to an authority as is referred to in clause (20A) of section 10 of the said Act, namely, an authority constituted in India b
Circular No. 135-Income Tax Section 194D provides for deduction of income-tax at source, at such rates as may be prescribed by the Finance Act of the relevant year, from payments of income by way of insurance commission, to a resident, whether an individual, a company or any other category of person. The rates for deduction of tax at source for the financial year 1974-75 which are prescribed in Part II of the First
Circular : No. 134 -Income Tax Under section 194A any person not being an individual or a Hindu undivided family, paying to a resident, any income by way of interest (other than interest on securities) is required, at the time of credit of such income to the account of the payee or at the time of payment thereof in cash or by issue of a cheque or a draft, to deduct income-tax thereon at the rates in force. The rates for the
Notification: S.O.291(E) This Notification contains Amendments to Indian Income-tax (Second Amendment) Rules, 1974 carried out on 14th May, 1974 not reproduced here as it is already contained in the body of the Rules itself
Notification: S.O.1603 It is hereby notified for general information that the institution mentioned below has been approved by the Indian Council of Medical Research, the prescribed authority for the purpose
