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...
Reference to Direct Taxes in Instruction NO. 3 of 2012 may be read as Service matters.The terms of engagement, fees payable etc. will be same as prescribed by the Ministry of Law & Justice in this regard.
Finance Bill 2014 got the assent of President on 04th March 2014 and become THE FINANCE ACT, 2014 (NO. 11 OF 2014). The bill was already approved by the both the house of Parliament i.e. Lok Sabha and Rajya Sabha. Download Finance Bill 2014 as approved by the President
Notification No. 13/2014-Income Tax Whereas, an Agreement between the Republic of India and Romania, for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income was signed at New Delhi on the 8th day of March, 2013 (hereinafter referred to as the said Agreement); 2. And whereas, the date of entry into force of the said agreement is the 16th day of December, 2013, being the date of later of the notifications of completion of the procedures as required by the respective laws for entry into force of the said Agreement, in accordance with paragraph 1 of Article 30 of the said Agreement;
Notification No.12/2014-Income Tax S.0 (E). – Whereas, an Agreement was entered into between the Government of the Republic of India and the Government of the Republic of Latvia for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income which was signed at New Delhi on the 1861 day of September, 2013 (hereinafter referred to as the said Agreement); 2. And whereas, the date of entry into force of the said Agreement is the 28th day of December, 2013, being the date of later of the notifications of the completion of the procedures required by the respective laws for entry into force of the said Agreement. in accordance with paragraph 2 of Article 30 of the said Agreement;
Whereas in exercise of the powers conferred by Section 35AC of the Income-tax Act, 1961 (43 of 1961) read with Rule 11G of the Income Tax Rules, 1962, the Central Government constituted the National Committee for Promotion of Social and Economic Welfare vide notification of the Government of India
Notification F.NO.2(1)/2013-SPS The Government of India is pleased to notify the extension of the following scheme of Central Grant or Subsidy under Special Package – II for Industrial units in the states of Himachal Pradesh and Uttarakhand with a view to accellerating the industrial development in these States.
CBDT Circular No. 07/2014 All Chief Commissioners of Income-tax All Directors General of Income-tax Sub: Ex-post facto extension of due date for filing TDS/TCS statements for FYs 2012-13 and 2013-14 – regarding The Central Board of Direct Taxes (‘the Board’) has received several petitions from deductors/collectors, being an office of the Government (‘Government deductors’), regarding delay in filing of TDS/TCS statements due to late furnishing of the Book Identification Number (BIN) by the Principal Accounts Officers (PAO) / District Treasury Office (DTO) / Cheque Drawing and Disbursing Office (CDDO). This has resulted in consequential levy of fees under section 234E of the Income-Tax Act, 1961(‘the Act’).
The President of India is pleased to appoint: Shri R.K.Tewari, IRS (IT:76), Member, Central Board of Direct Taxes, as Chairperson of the Central Board of Direct Taxes (CBDT) in the Department. of Revenue, Ministry of Finance in the pay scale of Rs. 80,000/- (fixed) with the status of Special Secretary to the Government of India against the vacancy arose due to superannuation of Ms. Sudha Sharma on 28.02.2014, from the date of his taking charge of the post, until further orders or his superannuation, whichever is earlier.
CBDT Chairpersons Dr. Sudha Sharma’s Farewell Message Dated 28.02.2014 to members of the Aayakar Family and Work Accomplished by the TPL and FT&TR Divisions of CBDT as well as DGIT(Logistics) up to February 2014.
The Central Board of Direct Taxes has extended the time-limit for filing ITR-V Forms for Assessment Years 2009-10, 2010-11 and 2011-12 till 31.03.2014 for returns e-filed with refund claims within the time allowed under section 139 of the Act.
