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...
Notification No. 25/2010-Income Tax In exercise of the powers conferred by Explanation 2 to section 90 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies “Hong Kong Special Administrative Region of the People’s Republic of China” as ‘specified territory’ for the purposes of the said section.
Notification No. 23/2010-Income Tax As per section 56(2)(vii)(c)(ii) of the Income-tax Act, 1961 (the Act) if an individual or a Hindu undivided family receives any property other than immovable property on or after 1 October 2009 for a consideration which is less than the Fair Market Value (FMV) of the property by an amount exceeding fifty thousand rupees then aggregate fair market value of such property exceeding such consideration will be treated as income of the receiver.
Notification No. 24/2010-Income Tax The Central Government have approved notification of ten year Deep Discount Bond (Zero Coupon Bond) of Rural Electrification Corporation Limited (REC) to be issued by 31st March 2011 as specified bonds for the purpose of sub-section 48 of section 2 of the Income Tax Act, 1961. The number of bonds approved for issue are 25,00,000 with maturity value of Rs.30,000 each having life period of 10 years. Income from such bonds will be taxed as capital gain only on transfer or redemption or maturity.
Notification No. 24/2010-Income Tax S.O. (E).-In exercise of the powers conferred by clause (48) of section 2 of the Income-tax Act, 1961 (43 of 1961), read with clause (ii), clause (iii) and clause (v) of sub-rule (3) and sub-rule (6) of rule 8B of the Income Tax Rules, 1962, the Central Government hereby specifies the bond with the following particulars as zero coupon bond for the purposes of the said clause (48) of section 2 of the said Act, namely :—
Notification No. 23/2010-Income Tax valuation of shares and securities.-(a) the fair market value of quoted shares and securities shall be determined in the following manner, namely;-(i) if the quoted shares and securities are received by way of transaction carried out through any recognized stock exchange, the fair market value of such shares and securities shall be the transaction value as recorded in such stock exchange;
Notification No. 22/2010-Income Tax In exercise of the powers conferred by Explanation 2 to section 90 of the Income-tax Act, 1961 (43 of 1961) the Central Government hereby notifies the following areas outside India as the ‘specified territory’ for the purposes of the said section, namely:- Bermuda, British Virgin Islands, Cayman lslands, Gibraltar..
Notification No. 19/2010-Income Tax S.O. It is hereby notified for general information that the organization B.M. Birla Scientific & Technology Centre, Jaipur has been approved by the Central Government for the purpose of clause (ii) of sub-section (1) of section 35 of the Income-tax Act, 1961 (said Act), read with rules 5C and 5E of the Income-tax Rules, 1962 (said rules) from Assessment year 2009-2010 onwards
For serial number 80 and the entries relating thereto, the following serial number and entries shall be substituted namely.
Notification No. 21/2010-Income Tax In exercise of the Powers conferred by section 118 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby directs that the income-tax 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
The Central Board of Direct Taxes (CBDT) has asked income-tax authorities to disallow the forex derivative loss claimed by companies on the basis of ‘marked to market’ valuation. Simply put, forex derivative loss, recognised on MTM basis, would be added back for the purpose of computing the taxable income of the company concerned (assessee).
