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...
Circular : No. 20-Income Tax A suggestion has been made to the Board that, in the case of banks, the Income-tax Officer should give full deduction for all bad and doubtful debts actually written off in the books of the banks, without any questioning, since the banks are in a better position to decide whether any of their debts are realisable or not.
Circular : No. 19-Income Tax It has been represented to the Board that expenditure incurred by businessmen on advertisements in souvenirs by trade, commerce and industry should be allowed in full in the same manner as expenditure on advertisements in newspapers since the purpose of both kinds of advertisements is identical.
Circular No. 18-Income Tax The Board have received representations that even in cases where the disputed income-tax and wealth-tax demands, outstanding on the valuation date, are disallowed and such disallowances account for the shortfall of the returned wealth by more than 25 per cent of the assessed wealth, some Wealth-tax Officers have been levying penalty under section 18(1)(c).
Circular : No. 17-Income Tax Reference is invited to the clarifications contained in the Board’s Circular No. 3(WT), dated 27-7-1968 [printed here as Annex] regarding the liability to wealth-tax of the value of the annuities receivable on the annuity deposits made under the relevant provisions of the Income-tax Act.
Notification: S.O.2005 The following draft of certain rules further to amend the Income-tax Rules, 1962, which the Central Board of Direct Taxes proposes to make in exercise of the powers conferred by section 295 of the Income-tax Act, 1961
In exercise of the powers conferred by section 295 of the Income-tax Act, 1961 (43 of 1961) the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely :—
Notification: S.O.2164 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 Agricultural Finance Corporation Limited, Stadium House, Block–2, 6th Floor, 81-83 Veer Nariman Road, Bombay–20, for the purposes of the said sub-clause
Notification: S.O.2128 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 National Textile Corporation Ltd., Room No. 283, Udyog Bhavan, New Delhi–11, for the purposes of the said sub-clause.
Notification: S.O.2127 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 Hindustan Machine Tools Ltd., P. O. HMT., Bangalore–31, for the purposes of the said sub-clause
Notification: S.O.1949 Central Government hereby notifies the undermentioned temple to be a place of public worship of renown throughout the State of Mysore and also the neighbouring States for the purpose of the said section.
