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. 171-Income Tax In the notification of the Government of India in the Ministry of Finance S.O. 420(E), dated 15th April, 2002, published on the 15th April, 2002, in the Gaz. of India, Extraordinary, Part II, section 3, sub-section (ii), for “rupees one lakh each” read “rupees one thousand each”.
Circular No. 3 of 2002-Income Tax Representations have been received for grant of exemption from the requirement of deduction of income-tax at source under sections 193, 194A and 194K of the Income-tax Act on the payment of incomes to Ramakrishna Math and Ramakrishna Mission whose income is exempt under sub-clause (iv) of section 10(23C) of the Income-tax Act, 1961.
Notification No. 157-Income Tax In exercise of the powers conferred by clause (b) of sub-section (3) of section 80E of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies the Housing Development Financial Corporation Ltd. (HDFC) as a financial institution for the purpose of section 80E of the said Act.
Notification No. 153-Income Tax In exercise of the powers conferred by sub-clause (viic) of clause (10C) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies the International Crops Research Institute for the Semi-Arid Tropics for the purposes of the said sub-clause in respect of assessment year 2002-2003 and subsequent assessment years.
Notification No. 154-Income Tax In exercise of the powers conferred by clause (v) of the Explanation to section 48 of the Income-tax Act, 1961 (43 of 1961), the Central Government, having regard to seventy-five per cent. of average rise in the Consumer Price Index for the financial year commencing on the 1st day of April, 2001
Notification No. 147-Income Tax In exercise of the powers conferred by sub-clause (h) Of Clause (iv) of sub-section (15) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies 8.55% Tax Free (9B Series) Konkan Railway Bonds bearing distinctive numbers from 1 to 10000) for an amount
Notification No. 146-Income Tax In exercise of the powers conferred by sub-clause (h) of clause (iv) of sub-section (15) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies 8.77% Tax Free (10B Series) Konkan Railway Bonds bearing distinctive numbers from 1 to 7000 for an amount
Notification No. 131-Income Tax It is notified for general information that enterprise/industrial undertaking, listed at para (3) below has been approved by the Central Government for the purpose of section 10(23b) of the Income-tax Act, 1961, read with rule 2E of the Income-tax Rules, 1962, for the assessment years 2001-2002
Notification No. 129-Income Tax In exercise of the powers conferred by clause (23) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies the “Petroleum Sports Control Board, New Delhi” for the purpose of the said clause for the assessment years 2002-2003 subject to the following conditions
Notification No. 124-Income Tax The percentage of land to be earmarked for commercial use shall not be more than 10 per cent of the allocable area. In case of an Industrial Model Town and Industrial Park, the minimum investment on infrastructure development shall not be less than 50 per cent of the total project cost. In the case of an Industrial Park which provides built up space for industrial use, the minimum expenditure on infrastructure
