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. 181(E) – Income Tax In exercise of the powers conferred by sub-section (1) of section 54EB of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby specifies the following assets, referred to as the long-term specified assets, for the purposes of the said section, namely
Circular No. 774-Income Tax Section 197(1) of the Act envisages that, where tax is deductible at source in terms of sections 192, 193, 194, 194A, 194D, 194-I, 194K and 195 of the Income-tax Act, and the recipient justifies the deduction of tax at any lower rate or no deduction of tax to the satisfaction of the Assessing Officer, the Assessing Officer shall issue an appropriate certificate. It has come to the notice of the Board
Notification No.S. O. 155(E) – Income Tax (a) the 17% (Taxable) Secured Redeemable Non-convertible MTNL Bonds (12th Series) (Part A) bearing distinctive numbers from 1 to 200000 of rupees one thousand each of the aggregate value of rupees twenty crores only
Notification No.S. O. 154(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 7-years 9% National Bank for Agriculture and Rural Development (NABARD) Tax-free Bonds-2004 (I-Series) of Rs. 1,00,000 each for an amount of rupees one hundred fifty crores bearing distinctive numbers
Notification No.S. O. 153(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 10.5% Tax-free Indian Renewable Energy Development Agency Energy Bonds (Series IV) of Rs. 1,000 each for an amount of Rupees ninety crores ninety nine lakhs twenty thousand only bearing distinctive
Notification No.S. O. 152(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 7-years 10.5% Tax-free (2004-VIIth Series) Secured Redeemable Bonds of Rs. 20,000 each for an amount of Rs. 305 crores (rupees three hundred five crores only) bearing distinctive numbers from 1 to 152500
Notification No.S. O. 151(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 7-years 8.75% per annum (Tax-free) Rural Electrification Corporation Bonds-2004 (XXXIII Series) bearing distinctive numbers
Notification No.S. O. 138(E) – Income Tax In exercise of the powers conferred by sub-clause (ii) of clause (23D) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies Indbank Invesco (Offshore) Fund, set up under trust deed dated July 31, 1996, by Indian Bank and approved by the Securities and Exchange Board of India as an Offshore Mutual Fund for the purpose of the said sub-clause
Notification No.S. O. 589 – Income Tax In exercise of the powers conferred by clause (b) of sub-section (2) of section 80G of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies Sri Nandaneshwara Temple, New Mangalore, Karnataka, to be a place of public worship of renown throughout the State of Karnataka for the purpose of the said section
Notification No.S. O. 114(E) – Income Tax In exercise of the powers conferred by sub-clause (viii) of clause (10C) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies the Indian Institute of Foreign Trade, New Delhi, registered under the Societies Registration Act, 1860 (21 of 1860), as an Institute of Management for the purpose of the said clause
