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...
PRESS RELEASE NO. 402/92/2006 – MC (35 OF 2010) The Central Board of Direct Taxes (CBDT) has amended the Rules relating to electronic filing of income tax returns vide Notification No.49/2010 dated 9th July 2010. The amended Rules will apply with effect from the date of notification in the official gazette.
NC Notification No. 57/2010-Income Tax In exercise of the powers conferred by sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government, on the recommendations of the National Committee for Promotion of Social and Economic Welfare, hereby notifies the institutions approved by the said National Committee, mentioned in column (2) of the Table
Notification No. 49/2010-Income Tax In a recent Notification No. 49/2010 dated 9 July 2010 (Notification) issued by the Central Board of Direct Taxes, modifying the permitted modes of filing return of income (ROI) for (i) companies and (ii) individuals and Hindu Undivided Families (HUF) which are liable for tax audit.
Notification No. 49/2010-Income Tax “(a) a firm required to furnish the return in Form ITR-5 and to whom provisions of section 44AB are applicable shall furnish the return in the manner specified in clause (ii) or clause (iii); (aa) an individual or HUF required to furnish the return in Form ITR-4 and to whom provisions of section 44AB are applicable shall furnish the return for Assessment Year 2010-11 and subsequent Assessment Years in the manner specified in clause (ii) or clause (iii); (ab) a company required to furnish the return in Form ITR-6 shall furnish the return for Assessment Year 2010-11 and subsequent Assessment Years in the manner specified in clause (ii)’
Notification No. 48/2010-Income Tax In exercise of the powers conferred by section 80CCF of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies bonds, subject to the following conditions, as long-term infrastructure bonds for the purposes of the said section namely :-
Notification No. 47/2010-Income Tax Whereas the Central Government in exercise of the powers conferred by clause (iii) of sub-section (4) of section 80-IA of the Income-tax Act, 1961 (43 of 1961) (hereinafter referred to as the said Act), has framed and notified a scheme for industrial park vide notification of the Government of India in the Ministry of Finance (Department of Revenue, Central Board of Direct Taxes ) number S.O. 51(E), dated the 8th January, 2008;
authorise the said Commissioners of Income Tax, to issue orders in writing for the exercise of powers and performance of functions by all or any of the Income-tax authorities who are subordinate to them in respect of such territorial areas, or such persons or classes of persons, or such income or classes of income, or such cases or classes of cases, as may be specified in their orders, including orders transferring the areas/persons or classes of persons, incomes or classes of incomes, cases or classes of cases from one Range to another Range or from one Assessing Officer to another Assessing Officer.
Order No. 3/FT&TR-II/2010 In exercise of powers conferred under section 144C of the Income-tax Act, 1961 and in supersession of Order No. 1/FT&TR/2010 dated 10th February, 2010 the Board hereby constitutes the Dispute Resolution Panel (DRP-II, Mumbai) comprising of three Commissioners of Income-tax/Directors of Income-tax as members of DRP at the place(s) given below with immediate effect and until further orders.
D.O. No. FTS-799468/2010- MEMBER (R) You may be aware that the Tax Credit Statement (in Form 26AS) in respect of each PAN holder is being compiled by the Income Tax Department on real time basis. Such statements are available for online view to the PAN holder, to enable him/her to take timely corrective steps in case of missing gaps. It is thus considered desirable to increase the awareness about the same among all sections of society.
CBN Circular No. 1 1. Service Providers are made application users of CBN Application Software. Service Providers will access CBN database of Income Tax Department through Personal Computer (PC) installed in their premises and connected to Bharti network. 2. Service Providers will connect CBN Application as application users by running appropriate link in Internet Explorer.
