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.
CA, CS, CMA : Key updates from Income Tax, GST, DGFT, RBI, and more for the week ending 29th Dec 2024....
CA, CS, CMA : Review of significant legal, tax, GST, and SEBI updates during the week ending 22nd December 2024, including new guidelines and ju...
CA, CS, CMA : Explore tax & GST updates for Nov 25–Dec 1, 2024, including safe harbour for diamonds, GST e-invoicing, HC rulings, Section 194N...
CA, CS, CMA : Summary of key notifications in Income Tax, GST, SEBI, and IBBI regulations during the week of Nov 18-24, 2024, covering filing pr...
Income Tax : The Vivad Se Vishwas Scheme 2024 simplifies tax dispute resolution, offering discounts and waivers to reduce litigation burden. Se...
Income Tax : The Institute of Cost Accountants of India seeks inclusion of Cost Accountants in the definition of "Accountant" under Section 515...
Income Tax : Government addresses Supreme Court judgment on tax exemptions for clergy and its implications on Hindu Undivided Families (HUFs) u...
Income Tax : Analysis of tax exemptions for individuals vs corporations, middle-class benefits, and the impact of measures under the new tax re...
Income Tax : Details on tax incentives for corporates, revenue loss since 2020, monitoring mechanisms, emerging sector benefits, and job creati...
Income Tax : Out of 3.94 crore valid ITRs for AY 2024-25, refunds were processed for 3.68 crore. Reasons for delays include invalid bank detail...
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 issue to be considered is whether the profit earned by the assessee from the activity of recruitment and training of personne...
Income Tax : Details of the Lok Sabha Select Committee's sittings on March 6-7, 2025, to examine the Income-Tax Bill, 2025, with oral evidence ...
Income Tax : CBDT updates income tax rules and forms for business and securitization trusts. Notification 17/2025 amends Rules 12CA & 12CC, imp...
Income Tax : Key updates on income tax deduction from salaries under Section 192 for FY 2024-25, including amendments, surcharge rates, and new...
Income Tax : CBDT extends the due date for filing Form 56F under Section 10AA(8) and 10A(5) of the Income-tax Act, 1961, to March 31, 2025, for...
Income Tax : The Central Government notifies Punjab RERA for tax exemption under Section 10(46A) of the Income-tax Act, effective from the 2024...
THE FINANCE (NO. 2) ACT, 2019 – NO. 23 OF 2019 received the assent of the President on the 1st August, 2019, and is hereby published for general information:—
Extension of timeline for completion of assessments in OCM cases where no return has been filed in response to notice u/s.142(1) of the Income-tax Act,1961(‘Act’) and the assessments have to be completed u/s.144 of the Act
Central Government, hereby exempts the following class of persons, subject to the conditions specified hereinafter, from the requirement of furnishing a return of income under subsection (1) of section 139 of the said Act from Assessment Year 2019-20 onwards, namely:-
On this 159th Income Tax Day, I extend my best wishes to each and every member of the Aaykar Parivar and their families. I feel honoured leading such a glorious and professional service, made even more special by the untiring contribution of each and every employee of the Department.
CBDT extends the ‘due date’ for filing of Income Tax Returns from 31st July, 2019 to 31st August, 2019 in respect of the said categories of taxpayers.
CBDT has been actively pursuing leads found in the actions taken against the J&K Bank and its erstwhile Chairman, Sh. Parvez Ahmad. In another such follow-up action, a search and seizure operation has been conducted on a Group that is in the business of providing security to business establishments and prominent individuals, as well as in running hotels in Jammu & Kashmir and other parts of the country.
CBDT and all field offices will be observing and celebrating the 159th Income Tax Day i.e. Aaykar Diwas on 24th July, 2019. It was on 24th July, 1860 that Income Tax was introduced for the first time in India by Sir James Wilson to compensate for the losses incurred by the British regime during the first war of independence against British Rule. This is why 24th July is observed as the Income Tax Day.
Protocol amending the Agreement between the Government of the Republic of India and the Government of the People’s Republic of China for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with Respect to Taxes on Income and the Protocol thereto Signed at New Delhi on 18th July, 1994. MINISTRY OF FINANCE (Department […]
A Committee to examine the feasibility of laying out the modalities, formats and data structures for uploading online, analysing and archiving of information sought during e-assessment in a forensically sound secure and importable data-structure to facilitate e-assessmcnt and to mitigate difficulties of both the taxpayers and Assessing Officer has been setup with the approval of Chairman, CBDT.
It is hereby notified for general information that the organization M/s National Centre for Cell Science, Pune (PAN:- AAATN0848B) has been approved by the Central Government for the purpose of clause (ii) of sub-section (1) of section 35 of the Income-tax Act, 1961 (said Act), read with Rules 5C and 5D of the Income-tax Rules, 1962 (said Rules), from Assessment year 2019-20 onwards in the category of ‘Scientific Research Association’, subject to the following conditions, namely:-
