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...
Circular No. 8/2009-Income Tax payments made by Third Party Administrators (TPAs) to hospitals on behalf of insurance companies for settling medical/insurance claims etc. with the hospitals. 2. The matter was examined by the Board. As per provisions of section 194J(1) ‘Any person, not being an individual or a Hindu undivided family, who is responsible for paying to a resident any sum by way of—
Notification No. 84/2009 – Income Tax 13. Rectification of mistake or error.- After the issue of directions under rule 10, if nay mistake or error is apparent in such direction, the panel may, suo motu, or on an application from the eligible assessee or the assessing officer, rectify such mistake or error, and also direct the assessing officer to modify the assessment order accordingly.14. Appeal against Assessment Order, – Any appeal against the Assessment Order passed in pursuance of the directions of the panel shall be filed before the Appellate Tribunal in Form No. 36B.
The CBDT has cited that such withdrawal is on account of their interpretation by some taxpayers, seeking to claim relief, which was not in accordance with the provisions of the Indian Income Tax Act (Act) or the intention behind these circulars. Circular No. 23 was issued by the CBDT to provide clarifications regarding taxability of foreign companies and non-residents, engaged in specified business activities.
Stamp duty collection as per Article 51A of the schedule I of the Bombay Stamp Act, 1958 to collect the stamp duty from the brokers on transactions of shares and securities conducted in Maharashtra was stayed earlier. Many brokers conduct the business of share and securities transaction in Maharashtra.
Notification No. 82/2009 – Income Tax In exercise of the powers conferred by the fourth proviso to sub-section (1) of section 132 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby empowers all the Additional Directors of Income-tax and Joint Directors of Income-tax working under the Director General of Income-tax (Investigation)
Notification No. 80/2009 – Income Tax 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), the Central Government hereby makes the following amendment in the notification of the Government of India, Ministry of Finance, Department of Revenue, number S.O. 3458, dated the 2nd September, 2006, and published in the Gazette of India, Part II, section
Notification No. 81/2009 – Income Tax Direct Supply Contract – 24 Hawk Mk 132 AJT ac, Trg Aids, Fixed Spares, Flyaway packs, Supplementary Sparcs, Ferry of aircraft etc. Interim Flying Training of IAF pilots, training of a crew / maintenance crew and ferry of aircraft from UK to India, The total value of contract is £ 479,718,664. 00 (Air HQ/S 96963/1/1/Proj( AJT)/Direct Supply Contract dated 26 Mar 04];
Notification No. 79/2009 – Income Tax It is hereby notified for general information that the organization Vittal Mallya Scientific Research Foundation, Bangalore, 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 2007-08 onwards
The issue to be considered is whether the profit earned by the assessee from the activity of recruitment and training of personnel and supplying the data thereof to its parent company in US is eligible for deduction under sec.lOA or not read with the Board’s Circular dated 26.9.2000. In this connection, it would be worthwhile to consider first the role of the circulars issued by the Board.
The Central Board of Direct Taxes had issued Circular No. 23 (hereinafter called “the Circular”) on 23rd July 1969 regarding taxability of income accruing or arising through, or from, business connection in India to a non-resident, under section 9 of the Income-tax Act, 1961. 2. It is noticed that interpretation of the Circular by some of the taxpayers to claim relief is not in accordance with the provisions of section 9 of the Income-tax Act, 1961 or the intention behind the issuance of the Circular.
