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. 104(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 15-75 per cent. (Taxable) Secured Redeemable Non-Convertible POWER GRID Bonds (V-Issue) bearing distinctive numbers from E-0000001 to E-2000000 aggregating to an amount of rupees two hundred crores only
Notification No. S.O. 100(E)-Income Tax bonds to be issued by the Alpic Finance Limited, a public company registered under the Indian Companies Act, 1956, and having its registered office at 6th Floor, New Excelsior Building, Wallace Street, Fort, Mumbai-400 001, of an amount not exceeding Rs. 37.50 crores, which are not transferable before 7 years from the date of its allotment
Notification No. S.O. 101(E)-Income Tax bonds to be issued by the Alpic Finance Limited, a public company registered under the Indian Companies Act, 1956, and having its registered office at 6th Floor, New Excelsior Building, Wallace Street, Fort, Mumbai-400 001, of an amount not exceeding Rs. 37.50 crores, which are not transferable before three years from the date of its allotment
Notification No. S.O. 278-Income Tax It is notified for general information that the D. C. M. Housing Finance Ltd., 1st Floor, Kanchenjunga, 18, Barakhamba Road, New Delhi-110 001, has been approved by the Central Government as a Housing Finance Company for the purposes of section 36(1)(viii) of the Income-tax Act, 1961, for the assessment years 1997-98 to 1999-2000.
Notification No. S.O. 68(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 5-year 17 per cent. Secured, Redeemable, Non-Convertible Bonds (Taxable) (L-series) of Rs. 1,000 each for an amount of Rs. 56,35,00,000 bearing distinctive numbers from 120000001 to 120563500 and 7-year 16 per cent.
Notification No. S.O. 69(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-year 10.5 per cent Secured, Redeemable, Non-Convertible Bonds (Tax-free) (L-series) of Rs. 1,000 each for an amount of Rs. 51,00,00,000 (Rupees fifty-one crores only) bearing distinctive number
Notification No. S.O. 67(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-year 9.25 per cent. per annum (Tax-free) Rural Electrification Corporation Bonds—2004 (XXXII Series) bearing distinctive numbers
Circular No. 761-Income Tax The attention of the Board has been drawn to certain difficulties being faced by pensioners drawing their pensions through banks where the tax deduction at source certificate in the prescribed Form No. 16 is some-time denied to them on the ground that no employee-employer relationship exists between the banks and the pensioner.
Circular No. 760-Income Tax Under sub-section (7)( d) of section 2 of the Finance Act, 1966, an “industrial company” means a company which is mainly engaged in the business of generation or distribution of electricity or any other form of power or in the construction of ships or in the manufacture or processing of goods or in mining.
Notification No. S.O. 12(E)-Income Tax In exercise of the powers conferred by clause (6C) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby declares that any income arising to the Rolls Royce Military Aero Engines Limited, a foreign company having its office at Moor Lane, Derby, DE24 8BJ, England, by way of fees for technical services received in pursuance of the agreement dated 27th March, 1996
