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 undersigned is directed to state that large number of requests for Exchange of Information (EOI) in time barring assessments/ matters are received in FT&TR Division just before the time barring date. It becomes difficult to process and forward such requests after due scrutiny to the Foreign Competent Authority in time. Further, in many cases the EOI requests are not properly drafted/prepared and modification of these requests by the field officers is required.
As a part of Prime Minister’s ‘Good Governance Day’ promise to provide an “open and accountable administration’ it has been decided that all field offices of the Income Tax Department will observe Public Meeting Day ‘ during 10.00 AM to 1.00 PM every Wednesday to listen to and try to resolve the grievances of the members of the public.
1. TDS is a non-obtrusive but powerful instrument to prevent tax evasion as well as to expand the tax net. TDS also minimizes tax avoidance by the taxpayer (income earners), as the payee’s transaction(s) are reported to the Department by the third person. The contribution of TDS to the overall gross direct taxes collections during F.Y.2013-14 was Rs.2,71,069 crore. This is a 17.88% growth over the collections shown under this minor head from Rs.2,29,943
Dated – 5th January, 2015 – ORDER NO. 5 OF 2015- The following transfer / posting (local changes) in the grade of Commissioner of Income Tax / Director of Income Tax are, hereby, ordered with immediate effect and until further orders:-
Vide Order No. 203 of 2014 dated 13th November, 2014, it was communicated that all the officers under orders of transfer be relieved with immediate effect, failing which the officers were to be deemed as relieved w.e.f 14.11.2014.
Instances have come to the notice of the Board where information pertaining to individual taxpayers has been published in the print media with specific reference to departmental sources. In some cases, even details contained in departmental documents seem to have been shared with the representatives of media.
Central Board of Direct Taxes hereby directs that the lncome ax authorities specified in column (2) of the Table below shall, for the purposes of the functions under section 144C of the said Act, be subordinate to the Income-tax authority specified in column (1) of the said Table, namely:-
Notification No. 91/2014-Income Tax S.O. 3324(E).· In exercise of the powers conferred by sub-section (14) of sect1on 144C 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 (Dispute Resolution Panel) Rules, 2009, namely:-
Notification No. 18/2014 – Income Tax Appointment of 128 IRS(IT) officers in the grade of ACIT (Junior Scale) in a substantive capacity – reg.
n the light of various references received from the field formation from time to time, existing guidelines on compounding of offences under Income-tax Act, 1961 (the Act) have been reviewed and in supersession of the same, including the guidelines issued vide F.No. 285/90/2008-IT(Inv.)/12 dated 16th May 2008, the following guidelines are issued for compliance by all concerned.
