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...
Section 44AB of the Act, stipulates that the accounts are to be got audited by an accountant and furnished in the prescribed manner before the ‘specified date’. The ‘specified date’ under Explanation (ii) to that section has been defined to be the ‘due date’ for furnishing the return of income under subsection (1) of section 139. Therefore, the extended ‘due date’ as per CBDT order dated 9th September, 2016 would also apply for the purpose of section 44AB of the Act.
The Direct Tax Dispute Resolution Scheme, 2016 incorporated as Chapter X of the Finance Act, 2016 (hereinafter referred to as ‘the Act’) provides an opportunity to tax payers who are under litigation to come forward and settle the dispute in accordance with the provisions of the Scheme.
The RBI has vide its circular dated 08.09.2016 instructed the banks to invariably accept cash deposits from all the declarants under the Scheme and to accept cash deposits, irrespective of amount, over the counters, for making payment under the Scheme through challan ITNS-286.
Central Government hereby notifies that no deduction of tax shall be made from payments of the nature specified in section 193 or section 194A or section 194-I of the said Act to the Tirumala Tirupati Devasthanams, Tirupati, Andhra Pradesh.
The CBDT Instruction no. 6/2016 has been issued on 7th September 2016 for the purpose of engagement of Special Public Prosecutors (SPPs) by the Income Tax Department before the Courts of Session and its Subordinate Courts all over India, after obtaining the concurrence of Ministry of Law & Justice.
S.O. 2894(E).—Whereas, an Agreement between the Government of the Republic of India and the Government of the Republic of Seychelles for the Exchange of Information with respect to Taxes (hereinafter referred to as the said Agreement) as set out in the Annexure to this notification, was signed at New Delhi on the 26th day of August, 2015;
For the purposes of this clause, the reconstruction or splitting up of a company, which ceased to be a public sector company as a result of transfer of its shares by the Central Government, into separate companies, shall be deemed to be a demerger, if such reconstruction or splitting up has been made to give effect to any condition attached to the said transfer of shares and also fulfils such other conditions as may be notified by the Central Government in the Official Gazette
S.O. 2853(E).-Whereas, an Agreement entered into between the Government of the Republic of India and the Government of the Republic of Maldives for Avoidance of Double Taxation of Income Derived From International Air Transport was signed at New Delhi on the 11th day of April, 2016 as set out in the Annexure to this notification (hereinafter referred to as the said Agreement);
With a view to ensure improved representation before the High Courts and other judicial forums and in supersession of Instruction No 3/2012 on the subject, Board has laid down following guidelines for engagement of Standing Counsels.
With a view to streamline the process of engagement of Special Public Prosecutors (SPPs) by the Department to represent before Courts of Session and its subordinate Courts in prosecution cases and in supersession of the existing Instructions of the CBDT on the subject matter in general and Instruction No. 1880 dated 30.01.1991 and Instruction No. 1925 dated 31.03.1995 in particular, the following instructions are issued herewith for compliance by all concerned:-
