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...
Standard Operating Procedure (SOP) for handling writ petitions where assessment is made under the Faceless Assessment Scheme 2019 (FAS’ 19)/section 144B of the IT Act, 1961(the Act) and or penalty is passed under Faceless Penalty Scheme, 2021, where NaFAC/CBDT is one of the respondents
Office Order No. 185 of 2021 In supersession of all earlier orders, the following transfer/postings of the officers in the grade of Chief Commissioners of Income Tax/Director Generals of Income Tax. are hereby ordered with immediate effect and until further orders:
Office Order 182 of 2021 – Transfer / postings of the 281 officers in the grade of Assistant Commissioner / Deputy Commissioner of Income Tax – reg. F.No.A.22013/1/2021-Ad.VI Government of India Ministry of Finance Department of Revenue (Central Board of Direct Taxes) North Block, New Delhi -110 001 Dated: 20th July, 2021 Office Order No. […]
Central Government allocates jurisdiction among Competent Authorities authorized under section 5(1) of Smugglers and Foreign Exchange Manipulators (Forfeiture of Property) Act, 1976 for the purpose of section 7 of the Prohibition of Benami Property Transactions Act 1988 MINISTRY OF FINANCE (Department of Revenue) (COMPETENT AUTHORITY CELL) New Delhi Notification No.02 of 2021 | Dated: 19th […]
Vide Notification No. 81/2021-Income Tax | Dated: 14th July, 2021 CBDT notifies Tax Exemption to ‘Himachal Pradesh Computerization of Police Society’, (PAN AABAH0360G), a body established by the State Government of Himachal Pradesh, in respect of the specified income under section 10(46) of Income Tax Act, 1961. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD […]
Vide Notification No. 80/2021-Income Tax | Dated: 14th July, 2021 CBDT notifies Tax Exemption to ‘Haryana Labour Welfare Board’, a Board constituted by the State Government of Haryana, in respect of the specified income under section 10(46) of Income Tax Act, 1961. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) New Delhi […]
Inaugural Session of Samvaad with Chairman, CBDT– The Chairman Speak on 15th July, 2021 at 01:00 PM – Streaming on Official YouTube Channel and Facebook Page of the Department
CBDT approves M/s Patanjali Research Foundation Trust, Haridwar under the category Research Association for Scientific Research for the purposes of section 35(1)(ii) of Income-tax Act, 1961 read with rules 5C and 5D of the Income-tax Rules, 1962 vide Notification No. 79/2021-Income Tax | Dated: 12th July, 2021. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD […]
Vide Notification No. 78/2021-Income Tax | Dated: 9th July , 2021 CBDT notifies Tax Exemption to ‘Haryana Building and Other Construction Workers Welfare Board’ (PAN AAATH6995H), a Board constituted by the State Government of Haryana, in respect of the specified income under section 10(46) of Income Tax Act, 1961. MINISTRY OF FINANCE (Department of Revenue) […]
CBDT inserts new Income Tax Rule 8AC -Computation of short term capital gains and written down value under section 50 where depreciation on goodwill has been obtained vide Notification No. 77/2021-Income Tax | Dated: 7th July, 2021 MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) New Delhi Notification No. 77/2021-Income Tax | […]
