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...
Notification No. 62-Income Tax Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.O. 54(E) dated the 16th January, 1998, issued under 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 7, for Project
Notification No. 61-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 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 8, for Construction
Notification No. 60-Income Tax Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.O. 388(E) dated the 19th May, 1997, issued under 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 25, for Construction, equipments vans, furnishing and running of Home for spastics at Sector-7, Papankala, Dwarka, New Delhi,
Notification No. 59-Icome Tax Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.O. 1124(E) dated the 29th September, 2003, issued under 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 5
Notification No. 56-Income Tax Whereas by notification of the Government of India in the Ministry of Finance (Department of Revenue) number S.0.54(E) dated the 16th January, 1998, issued under 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 18 for construction of Building
therefore, the Central Government, in exercise of the powers conferred by Sub-section 11) read with clause (b) of the Explanation to Section 35AC of the Income-tax Act, 1961 (43 of 1961) hereby specifies the scheme or project of Upliftment of the poor and the needy people by giving financial aid for the major surgical operations all over India
whereas the National Committee for Promotion pf Social and Economic Welfare, being satisfied that the said Project or scheme is being executed properly, made a further recommendation under sub-rule (5) of rule 11M of the Income-tax Rules, 1962 for specifying the said project or scheme for a further period of three years
Notification No. 55-Income Tax In the notification of the Government of India, in the Ministry of Finance, Department of Revenue (Central Board of Direct Taxes), number S.O.169(E), dated the 6th February, 2004 published in the Gazette of India, Extraordinary in Part II, Section 3, Sub-section (ii), dated the 6th February, 2004 at pages 1 to 24
Notification No. 54-Income Tax In exercise of the powers conferred by clause (ii)(b) of the proviso to Section 193 of the Income Tax Act, 1961 (43 of 1961), the Central Government hereby specifies the “IDBI Flexibonds 2003-2004” issued by Industrial Development Bank of India for the purpose of the said clause
this notification will not apply in relation to any income being profits and gains of business, unless the business is incidental to the attainment of the objectives of the assessee and separate books of accounts are maintained in respect of such business
