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...
Thiruvali Sri Lakshmi Narasimha Perumal Sannadhi—P. O. Thiruvali, Taluk Sirkali, District Tanjore
Notification: S.O.181 Lokmanya Tilak Hospital Silver Jubilee Research Foundation, Bombay 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 :
Notification: S.O.180 Raghvendra Industrial Research Foundation, Delhi It is hereby notified for general information that the institution mentioned below has been approved by the Council of Scientific and Industrial Research,
1. Shree Sidhi Vinayak Temple, Sarasbagh. 2. Shree Deva Deveshwar Temple, Parvati. 3. Shree Vishnu Narayan Temple, Parvati.
In the notification of the Central Board of Direct Taxes No. S. O. 2272, dated the 31st May, 1971, published at pages 2239/2242 of the Gazette of India, Extraordinary, Part II, Section 3, sub-section (ii), dated the 1st June, 1971,—
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 (43 of 1961), up to 31st March, 1974, subject to the following conditions :—
Circular No. 67-Income Tax References have been received by the Central Board of Direct Taxes seeking information regarding the exemption from income-tax available to residents of Ladakh in general and Government officers stationed there in particular. The position in law as obtaining at present is explained in the following paragraphs.
Circular No. 65-Income Tax I am directed to invite a reference to the Board’s Circular No. 48 [F. No. 275/195/70-ITJ], dated 7-11-1970 [Clarification 2]. The Board has been requested to reconsider the views given in that circular. After a careful examination of the legal position the Board is of the view that to the following extent the earlier views need a modification.
Circular No. 64-Income Tax A question has been raised as to whether the nationalised banks would be regarded as banking companies under the provisions of section 80L(1)(vi). The relevant provision reads as follows: interest on deposits with a banking company to which the Banking Regulation Act, 1949, applies (including any bank or banking institution referred to in section 51 of that Act)
Circular No. 63-Income Tax The Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 (hereinafter referred to as the 1970 Act), was enacted by Parliament with a view to nationalising the undertakings of 14 commercial banks on payment of compensation aggregating to Rs. 87.40 crores.
