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 : Learn about advance tax, who needs to pay it, due dates, payment methods, penalties, and exceptions. Understand advance tax instal...
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 : 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 Indian government is set to introduce the new Income Tax Bill, 2025, in the Lok Sabha on February 13, 2025. This comprehensive...
The Government of the Republic of India signed a Double Taxation Avoidance Agreement (DTAA) with the Federal Democratic Republic of Ethiopia for the avoidance of double taxation and for the prevention of fiscal evasion with respect to taxes on income on 25th May, 2011 at Addis Ababa. The Agreement was signed by Shri S.M. Krishna, External Affairs Minister on behalf of the Government of India and by Mr. Sufian Ahmed, Minister of Finance and Economic Development on behalf of the Federal Democratic Republic of Ethiopia in the presence of the Prime Minister, Dr. Manmohan Singh and the Ethiopian Prime Minister. Mr. Meles Zenawi.
Notification No. 28 /2011- Income Tax [F. NO. 200/21-2011-ITA-I], DATED 27-5-2011 In exercise of the powers conferred by clause (39) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies the following as the international sporting event, persons and specified income for the purposes of the said clause, namely :—(a) the International Cricket Council Cricket World Cup, 2011 as the International Sporting event; (b) the following entities as the persons, namely :— (1) International Cricket Council Development (International) Ltd.; (2) International Cricket Council Development (International) Hungary KFT;
Notification No. 27/2011 – Income Tax [F. NO. 149/122/2010-SO(TPL)], DATED 26-5-2011 In exercise of the powers conferred by section 295 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 Rules, 1962, namely :— 1. (1) These rules may be called the Income-tax (Fifth Amendment) Rules, 2011.
INSTRUCTION NO. 7 /2011 Section 260A of the Income-tax Act, 1961 – High Court – Appeal to – Instructions regarding Standard Operating Procedure on filing of appeals to High Court under section 260A and related matters. The Government has formulated the National Litigation Policy 2010, for conduct of litigation on its behalf. The policy declares: Government must cease to be a compulsive litigant. The philosophy that matters should be left to the courts for ultimate decision has to be discarded. The easy approach, ‘let the court decide’, must be eschewed and condemned.
Order No.4/FT&TR/2011 – In exercise of powers conferred under section 144C of the Income Tax Act, 1961, and in supersession of Order No.1/FT&TR-I/2011 dated 12.012011 and Order No.3/FT&TR-I/2D11 dated 31.03.201, the Board hereby constitutes the Dispute Resolution Panel (DRP) comprising of three Commissioners of Income Tax/Directors of Income Tax as Members of DRP at the places given below, who shall perform such duties in addition to their regular duties with effect from 23.05.2011 and until further order:
CBDT CIRCULAR NO-03/2011, Dated: May 13, 2011 Section 203 of the Income-tax Act 1961 (“the Act”) read with the Rule 31 of the Income-tax Rules 1962 (“the IT Rules”) provides for furnishing of certificate of tax deduction at source (TDS) by the deductor to the deductee specifying therein the prescribed particulars like amount of TDS, permanent account number (PAN), tax deduction and collection account number (TAN), etc. The relevant form for such TDS certificate is Form No.16 in case of deduction under section 192 and Form No.16A for deduction under any other provisions of Chapter XVII-B of the Act. TDS certificate in Form No.16 is to be issued annually whereas TDS certificate in Form No.16A is to be issued quarterly.
Notification No. 26/2011 – Income Tax Whereas, an Agreement between the Government of Republic of India and the Government of the Isle of Man for the Exchange of Information with respect to taxes was signed at London on the 4th day of February, 2011; And whereas, the date of entry into force of the said Agreement is the 17th day of March, 2011, 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 2 of article 13 of the said Agreement;
Notification No. 25/2011 – Income Tax Whereas, an Agreement between the Government of the Republic of India and the Government of the Commonwealth of The Bahamas for the Exchange of Information with respect to taxes was signed at Nassau, Bahamas on the 11th day of February, 2011 (hereinafter referred to as the said Agreement);
Notification No. 24/2011 – Income Tax In exercise of the powers conferred by clause (b) of rule 6 of Part A of the Fourth Schedule to the Income-tax Act, 1961 (43 of 1961), and in supersession of the notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.O. 2091(E), dated the 26th August, 2010, the Central Government hereby fixes, with effect from the 1st day of September, 2010, 9.5 per cent., as the rate referred to in the said clause.
Notification No. 1035/2011 – Income Tax The Ministry of Environment and Forest (MoEF) has for the first time notified e-waste management rules. The e-waste (management and handling) Rules, 2011 would recognise the producers’ liability for recycling and reducing e-waste in the country. The rules will come into effect from May 1, 2012.
