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...
Notification No.12/2013 – Income Tax SECTION 35(1)(ii) OF THE INCOME-TAX ACT, 1961 – SCIENTIFIC RESEARCH EXPENDITURE – APPROVED SCIENTIFIC RESEARCH ASSOCIATIONS/INSTITUTIONS – INTERNATIONAL INSTITUTE OF INFORMATION TECHNOLOGY BANGALORE, BANGALORE NOTIFICATION NO. 12/2013
Notification No. 11/2013 – Income Tax (1) These rules may be called the Income-tax (2nd Amendment) Rules, 2013. (2) They shall come into force on the date of their publication in the Official Gazette.
In the statement made by the Revenue Secretary to the media on 10th December 2012, he had stated that there is no advantage in suppressing the true income or avoiding paying income tax that is due because, sooner or later, the information available with the Income Tax Department will lead the department to the doors of such persons.
I am directed to convey that the Hon’ble Finance Minister has expressed serious concern about drafting of ‘Substantial Question of Law’ in the proposals to file SLP. He has also expressed dissatisfaction over lack of assistance to the Law officers/appearing counsels by field officers.
The Convention and Protocol between the Government of the Republic of India and the Government of the Kingdom of Sweden for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income and on capital (DTAC) was first signed here on 24th June 1997.
In supersession to CBDT Instruction No. 1857 issued on 19-9-1990 vide F. No. 316/22/1989-OT for auction of properties purchased under Chapter XX-C of the Income-tax Act, 1961, comprehensive instructions on the modalities of fixing the reserve price for auction of properties acquired under Chapter XX-C are as under :
Notification No. 10/2013 – Income Tax SECTION 10(15), ITEM (h) OF SUB-CLAUSE (iv) OF THE INCOME-TAX ACT, 1961 – EXEMPTIONS – INTEREST ON BONDS/DEBENTURES – SPECIFIED COMPANIES AUTHORIZED TO ISSUE TAX-FREE, SECURED, REDEEMABLE, NON-CONVERTIBLE BONDS DURING F.Y. 2012-13 – AMENDMENT IN NOTIFICATION NO. SO 2685(E), DATED 6-11-2012, READ WITH CORRIGENDUM NO. SO 2717(E), DATED 15-11-2012 NOTIFICATION NO. 10/2013[F.NO.178/6/2013(ITA-I)]/SO 321(E), DATED 5-2-2013
I am directed to say that the delay in filing of SLP is a serious cause of concern. One of the reasons for delay in filing of SLP is inordinate delay in receiving the SLP proposals in the Directorate of Legal & Research. Even after conveying the concern of the Board in this regard, it is observed that about 50% proposals are received after 60 days of the date of impugned judgment of High Court as against 21 days prescribed in instruction No. 4 of 2011 laying down the SOP for filing SLP.
A module was developed on the national website www.incometaxindia.gov.in and was made available to the CCsIT (CCA) for uploading of Exempted Institution data, while many CCsIT (CCA) has already uploaded data into the module for use by the general public, some of the CCsIT (CCA) are facing difficulty in uploading their huge back log of data. In view of this a multiuser uploading facility is now allowed on the said module.
Notification No. 8/2013 – Income Tax FORM NO. 10BC [See rule 17CA] Audit report under (sub-rule (12) of rule 17CA) of the Income-tax Rules, 1962, in the case of an electoral trust. Rule 17CA. Functions of electoral trusts. (1) The functions of an electoral trust referred to in section 13B shall be as provided in this rule.
