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.S. O. 506(E) – Income Tax In exercise of the powers conferred by item (h) of sub-clause (iv) of clause (15) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies the Nuclear Power Corporation of India Limited Tax-free Bonds (Series XII) carrying an interest of 10.5% per annum for financial year 1998-99 of rupees one lakh each for an amount of rupees one hundred
Notification No.S. O. 505(E) – Income Tax In exercise of the powers conferred by clause (ii) of sub-section (1) of section 80L of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies the Taxable Unsecured and Redeemable Housing and Urban Development Corporation Infrastructure Bonds (Series-I) bearing distinctive numbers from 000001 to 2500113 of Rs. 1,000 each aggregating to an amount of
Notification No.S. O. 504(E) – Income Tax In exercise of the powers conferred by item (h) of sub-clause (iv) of clause (15) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies
Notification No. 10982/1999 – Income Tax In exercise of the powers conferred by item (h) of sub-clause (iv) of clause (15) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies the National Bank for Agriculture and Rural Development tax-free Bonds-2004 (II-Series) carrying an interest of 8.25% per annum payable half-yearly for a period of 7 years of rupees one lakh each for an
Notification No. 10977/1999 – Income Tax In exercise of the powers conferred by clause (ii) of sub-section (1) of section 80L of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies 5 years 13.5% secured redeemable non-convertible and taxable debentures in the nature of bonds Power Grid Bonds (VIIth-Issue) bearing distinctive numbers from G-0000001 to G-2000000 of Rs. 1000/- each, carrying an
Notification No. 10976/1999 – Income Tax In exercise of the powers conferred by clause (ii) of sub-section (1) of section 80L of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies the debentures, in the nature of bonds, namely
Notification No. 10975/1999 – Income Tax In exercise of the powers conferred by item (h) of sub-clause (iv) of clause (15) of section 10 of the IT, 1961 (43 of 1961), the Central Government hereby specifies the Nuclear Power Corporation of India Limited Tax-free Bonds (Series-XII) carrying an interest of 10.5% per annum for financial year 1999-99 of rupees one lakh each for an amount of rupees one hundred twenty-five
Notification No. 10974/1999 – Income Tax In exercise of the powers conferred by clause (ii) of sub-section (1) of section 80L of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies the taxable, unsecured and redeemable Housing and Urban Development Corporation Infrastructure Bonds (Series-I) bearing distinctive numbers from 000001 to 2500113 of Rs. 1,000 each aggregating to an amount of rupees two hundred fifty crores one lakh thirteen thousand only carrying interest of 15 per cent per annum payable half-yearly
Notification No. 10973/1999 – Income Tax In exercise of the powers conferred by item (h) of sub-clause (iv) of clause (15) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies
Notification No. 10969/1999 – Income Tax In exercise of the powers conferred by sub-clause (ii) of first proviso to clause (10B) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government, having regard to the maximum amount of compensation which may be received by a workman at the time of his retrenchment, hereby specifies five lakhs rupees as the limit for the purposes of the said clause in relation to the
