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. 11234-Income Tax In exercise of the powers conferred by the sub-clause (v) of clause (23C) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies the “Srimadujjayini Saddharma Simhasana Sri Taralbalu Jagadguru Bribanmath Sirigere-577541 (Karnataka)” for the purpose of the said sub-clause for the assessment years 1996-97 to 1998-99 subject to the following conditions
Circular No. 786-Income Tax Deduction of tax u/s 195 and the taxability of export commission payable to non-resident agents rendering services abroad – clarification regarding. In the Audit Report for 1997-98 (D P No 79(I.T.) The Comptroller & Auditor General (C&AG) raised an objection that the Assessing Officer in computing the Profits and Gains of Business or Profession, in a case in Mumbai charge, had wrongly allowed a deduction in respect of a payment to a non-resident where tax had not been deducted at source.
Notification No. 11230-Income Tax In exercise of the powers conferred by clause (23) of section 10 of the IT Act, 1961 (43 of 1961), the Central Government hereby notifies the “Chandigarh Lawn Tennis Association, Chandigarh” for the purpose of the said clause for assessment years 1991-92 to 1993-94 subject to the following conditions
Notification No. 606-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 “Chandigarh Lawn Tennis Association, Chandigarh” for the purpose of the said clause for the assessment years 1991-1992 to 1993-1994 subject to the following conditions
Notification No. 11224-Income Tax It is notified for general information that the enterprise, listed at para (3) below has been approved by the Central Government for the purpose of section 10(23G) of the Income-tax Act, 1961, read with rule 2E of the Income-tax Rules 1962, for the assessment years 1999-2000, 2000-2001 and 2001-2002.
Notification No. 11223-Income Tax It is notified for general information that M/s Tourism Finance Corporation of India Limited, New Delhi, has been approved by the Central Government as a Corporation engaged for providing long-term finance for industrial development in the country for the purposes of section 36(1)(viii) of the Income-tax Act, 1961, for the assessment years 1996-97 to 1999-2000.
Notification No. 11222-Income Tax It is notified for general information that undertaking, listed at para (3) below have been approved by the Central Government for the purpose of section 10(23G) of the Income-tax Act, 1961, read with rule 2E of the Income-tax Rules 1962, for the assessment years 2000-2001, 2001-2002 and 2002-2003.
Notification No. 11220-Income Tax In exercise of the powers conferred by sub-clause (23E) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies “Exchange Risk Administration Fund” set up by Indian Renewable Energy Development Agency Limited, a public financial institution notified under sub-section (2) of section 4A of the Companies Act, 1956
Notification No. 11218-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(23G) of the Income-tax Act, 1961, read with rule 2E of the Income-tax Rules, 1962, for the assessment years 1999-2000, 2000-2001 and 2001-2002.
Notification No. 603-Income Tax In exercise of the powers conferred by clause (22B) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies in the Press Trust of India Limited, New Delhi, as a news agency set up in India solely for collection and distribution of news for the purposes of said clause for the assessment years 2000-2001 to 2002-2003.
