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...
Insight Instruction No. 8 guides Assessing Officers in verifying high-risk refund ITRs for AY 2024-25, detailing steps for verification and reporting within 30 days.
Insight Instruction No. 43 addresses verification of high-risk refund cases for AY 2024-25. TDS officers to assess and submit feedback on organized refund claims.
Latest updates on income tax, GST, IBBI, and minimum wage revisions issued during 23rd-29th Sept 2024. Includes key circulars, deadlines, and court rulings.
CBDT issues comprehensive guidelines for condonation of delay in filing returns claiming refunds or losses under Section 119(2)(b) of the Income-tax Act, 1961.
CBDT designates OCAC Chairman for identifying genuine beneficiaries of Odisha’s social welfare schemes under Section 138 of the Income Tax Act, 1961.
DGIT issues notification on the procedure for filing Form-1 under the Direct Tax Vivad Se Vishwas Scheme, 2024. Learn about the online filing steps and submission process.
The Income Tax Department has appointed designated authorities under the Direct Tax Vivad Se Vishwas Scheme, effective October 1, 2024, in West Bengal and Sikkim.
The Ministry of Finance issues a corrigendum to Notification No. 104/2024, amending various schedules in the Income Tax regulations.
Summary of the Direct Tax Vivad Se Vishwas Rules, 2024. Notification outlines tax dispute resolution, declarant obligations, and MAT credit reduction.
Tax professionals face technical issues on the Income Tax portal, hindering tax audit report submissions before the 30th Sept 2024 deadline. Urgent intervention requested.
