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...
Notification: S.O.315(E) In pursuance of sub-clause (f) of clause (iii) of sub-section (3) of section 194A of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies the Cawnpore Anti-Tuberculosis Association, Kanpur, for the purposes of the said sub-clause
Circular No. 81-Income tax I am directed to invite a reference to the Board’s Circular No. 71 [F.No. 245/25/ 71-A & PAC], dated 26-3-1972 and to say that the CBDT have passed a revised order of date in supersession of their earlier order dated 28-2-1972, a copy of which was sent
Circular No. 83-Income Tax I am directed to invite a reference to this Ministry’s Circular No. 60 [F. No. 275/38/71-ITJ], dated 5-6-1971 on the subject of deduction of income-tax from salaries paid during the year 1971-72. The Finance Bill introduced in the Parliament on March 16, 1972, inter alia, prescribes the rates at which income-tax has to be deducted during the financial year 1972-73 from income
Circular No. 82-Income Tax I am directed to forward a copy of draft circular letter setting out the rates at which income-tax and surcharge should be deducted from interest on Government securities on or after April 1, 1972. It is requested that a circular on the basis of this draft may be issued by you immediately to all Treasury Officers and Sub-Treasury Officers under your control, individually.
Notification: S.O.2170 TATA INSTITUTE OF SOCIAL SCIENCE, BOMBAY 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 (43 of 1961),
Notification: S.O.1318 Indian Academy of Wood Science, Bangalore has been approved by the Council of Scientific and Industrial Research, the prescribed authority, for the purposes of clause (ii) of sub-section (1) of section 35 of the Income-tax Act, 1961.
Notification: S.O.175(E) This notification contains Amendment to Income-tax Rules carried out on 6-3-1972 not reproduced here as it is already contained in the body of the Rules itself
Circular No. 80-Income Tax Under section 40(c )(iii), any expenditure incurred by a company after February 29, 1964, which results directly in the provision of any benefit or amenity or perquisite, whether convertible into money or not, to an employee (including any sum paid by the company in respect of any obligation which but for such payment would have been payable by such employee) would be admissible
Circular No. 79-Income Tax Assessees, deriving profits and gains from newly established industrial undertakings or ships or hotel business, are entitled to tax relief provided under section 80J [section 84 up to the assessment year 1967-68]. When such assessees happen to be companies which declare dividend out of such profits, the shareholders too become entitled to tax relief under section 80K
Circular No. 78-Income Tax Attention of the Commissioners is invited to the enclosed handout issued by the Board to the Press Note on 21-1-1972 [printed here as Annex] under which general extension of time for filing the returns of wealth in the cases of persons owning agricultural lands or other assets related thereto has been allowed up to the end of February 1972, for the assessment years 1970-71 and 1971-72
