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...
Protocol Amending The Convention Between The Government Of The Republic Of India And The Government Of Mauritius For The Avoidance Of Double Taxation And The Prevention Of Fiscal Evasion With Respect To Taxes On Income And Capital Gains, And For The Encouragement Of Mutual Trade And Investment, Signed At Port Louis On 24th August 1982
1. (1) These rules may be called the Income-tax (20th Amendment) Rules, 2016. (2) They shall come into force from the date of their publication in the Official Gazette. 2. In the Income-tax Rules, 1962, in the Appendix II, in Form 10A,—(i) for item 4, following item shall be substituted, namely:—
Qualifications of an e-Return Intermediary.-(c) a firm of Chartered Accountants or Company Secretaries or Cost Accountants or Advocates, if the firm has been allotted a permanent account number; or (d) a Chartered Accountant or Company Secretary or Cost Accountant or Advocate or Tax Return Preparer, if he has been allotted a permanent account number; or”
The Chairpersons CBDT has approved the constitution of a committee to draft an amended set of guidelines for regulating the interaction of the Department with the Media. The composition of the committee shall be as follows:
The facility of e-verification of IT returns has been used by over 75.3 Lakh taxpayers till 5th August, 2016 as compared to 32.95 Lakh taxpayers last year till 7th September 2015. Of these Aadhar based E- verification was used by 17.68 lakh taxpayers during the current year as against 10.41 lakh taxpayers during the same period in 2015-16.
Draft Recruitment Rules Dated: F.No. HRD/CMD/121/3/2015-16/2892 dated 08.08.2016 08.08.2016 Sports Quota Recruitment – 2016-17 Dated: 08.08.2016 Draft Recruitment Rules for the post of Income Tax Officer F.No. HRD/CMD/121/3/2015-16/2804 dated 08.08.2016 Draft Recruitment Rules for the post of Pr. Administrative Officer – F.No. A35015/43/2014-Ad VI/2805 Dated: 08.08.2016 Also Read- CBDT notifies Draft Recruitment Rules for Various […]
A Committee had been constituted, with the approval of the Finance Minister, to suggest the framework for computation of book profit for the purposes of levy of MAT under section 115JB of the Income-tax Act, 1961 for Indian Accounting Standards (Ind AS) compliant companies in the year of adoption and thereafter. The Committee submitted its report dated 18th March, 2016 regarding the said framework.
In exercise of the powers conferred by 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 Micro Units Development & Refinance Agency Limited (MUDRA) for the purposes of sub-section (3) of said section.
Uploading of draft Recruitment Rules for the post of Inspector of Income Tax – reg.- F.No. HRD/CMD/121/3/2015-16/2871 dated 05.08.2016 Uploading of draft Recruitment Rules for the post of Executive Assistant- reg.- F.No. HRD/CMD/121/3/2015-16/2870 dated 05.08.2016 Uploading of draft Recruitment Rules for the post of Senior Private Secretary, Private Secretary (Group ‘B’ Posts) F.No. A35015/43/2014-Ad VI/2869 […]
The Central Board of Direct Taxes (CBDT) entered into a Bilateral Advance Pricing Agreement (APA) on 2nd August, 2016 with the Indian subsidiary of a Japanese trading company. This is the first Bilateral Advance Pricing agreement with a Japanese company having a Rollback provision in it. Overall, it is fourth bilateral APA signed by CBDT.
