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.1083 has been approved by the Indian Council of Medical Research, the prescribed authority, for the purposes of clause (ii) of sub-section (1) of section 35 of the Income-tax Act, 1961 (43 of 1961)
Circular No. 76-Income Tax In exercise of the powers conferred by section 3 of the United Nations (Privileges and Immunities) Act, 1947 (46 of 1947), the Central Government hereby declares that the provisions of clause (b) of section 18 contained in article V of the Schedule to the said Act shall apply mutatis mutandis to the officials of the International Jute Orgnisation, Dhaka (Bangladesh), an International
Notification: S.O.1082 National Hospital, Mahim, Bombay has been approved by the Indian Council of Medical Research, New Delhi, the prescribed authority, for the purposes of clause (ii) of sub-section (1) of section 35 of the Income-tax Act, 1961 (43 of 1961).
Circular No. 75-Income Tax Attention is invited to the provisions of section 5(1)(viii) as amended by section 32 of the Finance (No. 2) Act, 1971. Under This amendment the operation of the exemption in clause (viii) has been restricted prospectively in the following respects
Circular No. 74-Income Tax Attention is invited to the provisions of clause (xx) of sub-section (1) of section 5, as amended by the Finance (No. 2) Act, 1971. Prior to this amendment, the value of any equity shares, held by the assessee in any company of the type referred to in clause (d) of section 45, i.e., a company established with the object of carrying on an industrial undertaking in India where such shares formed part of the
Circular No. 73-Income Tax In exercise of the powers conferred by clause (a) of sub-section (2) of section 119, the Central Board of Direct Taxes hereby orders that in all the cases where a valid application under clause (b) of sub-section (2) of section 154 had been filed by the assessee within the statutory time limit but was not disposed of by the authority concerned with in the time specified under sub-section (7) of section 154
Circular No. 72-Income Tax Rates of income-tax for the assessment year 1971-72 3. The rates of income-tax for the assessment year 1971-72 in the case of all categories of taxpayers, corporate as well as non-corporate, are specified in Part I of the First Schedule to the Finance (No. 2) Act, 1971. These rates – summarised in Annexure I to this circular – are the same as were specified in Part III of the First Schedule to the Finance Act, 1970,
Notification: S.O.661 It is hereby notified for general information that the institution mentioned below 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.660 It is hereby notified for general information that the institution mentioned below has been approved by the Indian Council of Social Science Research, New Delhi, the prescribed authority, for the purposes of clause (iii) of sub-section (1) of section 35 of the Income-tax Act, 1961.
It is hereby notified for general information that the institution mentioned below has been approved by the Council of Scientific & Industrial Research, New Delhi, the ” prescribed authority “
