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...
NC Notification No. 7/2009-Income Tax WHEREAS by notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.O. 466(E), dated the 29th March, 2007, issued under clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had notified at serial number 34, “Anganwadi workers” training centre, Orthopaedic centre
NC Notification No. 6/2009-Income Tax WHEREAS by notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.O. 366(E), dated the 10th April, 2000, issued under 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 had notified at serial number 3, “Construction of extension building, purchase
NC Notification No. 5/2009-Income Tax WHEREAS by notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.O. 1145(E), dated the 16th July, 2007, issued under clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had notified at serial number 3, “Sevalaya School expenses project to meet the running expenses of the school
NC Notification No. 4/2009-Income Tax WHEREAS by notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.O. 497(E), dated the 26th May, 2000, issued under 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 had specified at serial number 2, for construction of building and running of Vridh
WHEREAS by notification of the Government of India in the Ministry of Finance (Department of Revenue), number S.O. 267(E), dated the 29th March, 1994, issued under 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 had specified at serial number 17
NC Notification No. 3/2009-Income Tax WHEREAS by notification of the Government of India in the Ministry of Finance (Department of Revenue), number S.O. 267(E), dated the 29th March, 1994, issued under 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 had specified at serial number 17, for detection, treatment and cure
NC Notification No. 2/2009-Income Tax In the notification of the Government of India, Ministry of Finance (Department of Revenue) number S.O. 2907(E), dated 17th November, 2009, published in the Gazette of India, Extraordinary, Part-II, section 3, sub-section (ii), at Sl. No. 3, relating to the trust’s name and word, “Special Olympics Gujarat Chapter”, “Gujarat University Boys Hostel Campus, Navrangpura, Ahmedabad
NC Notification No. 1/2009-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
The regular assessment tax (RAT) is one of best tools available to the Department to collect taxes. The collection from RAT not only showcases the effort of the Department to collect taxes but can also have a great deterrent effect on the tax evaders. During 2009-10, the Department has collected around Rs 31,242 crone from RAT which is around 8,74% more than the corresponding figure last year. The share of collection from RAT (as a percentage of total collection) has gone up from 921% in 2007-08 to 924% in 2008-09. However there is a great potential in augmenting collection from RAT.
Press Note [F. NO. 9/3/2009-ECB] In continuation to the Press Note dated 15th February, 2010 regarding the amendment to the “Issue of Foreign Currency Convertible Bonds and Ordinary Shares (through Depository Receipt Mechanism) Scheme, 1993,” (the Scheme) permitting revision of conversion price of FCCBs, it is clarified that for the purpose of revision of conversion price in accordance with the conditions mentioned in Press Note dated 15th February, 2010, the ‘relevant date’
