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.467(E) – Income Tax In exercise of the powers conferred by the proviso to sub-section (1) of section 139 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby specifies in the table below, the following floor areas for the purposes of clause (i) of the said proviso
Circular No.753-Income Tax The Finance Act, 1997 as passed by the Parliament received the assent of the President on the 14th May, 1997 and has been enacted as Act No. 26 of 1997. Sections 62 to 78 of the Finance Act, 1997 relate to the Voluntary Disclosure of Income Scheme, 1997. This circular explains the substance of the provisions of the Disclosure Scheme
Circular No. 754-Income Tax The Finance Act, 1997 has introduced a Voluntary Disclosure of Income Scheme, 1997. In regard to the Scheme a number of queries have been received from the public about the scope of the scheme and the procedure to be followed. The Board has considered the same and decided to clarify the points raised by issue of Circular in the form of questions and answers as per Annexure
Notification No.S.O.378(E) – Income Tax In the notification of the Government of India, Ministry of Finance (Department of Revenue), No. S.O. 895(E), dated the 26th December, 1996, published at pages 1-2 of the Gazette of India, Extraordinary, Part II, section 3, sub-section (ii), dated 26th December, 1996, at page 2, para (c), first line, for “17.5 %” read “17.75%
It is hereby notified for general information that the institution mentioned below has been approved by the Indian Council of Medical Research, the prescribed authority for the purpose of clause (ii) of sub-section (1) of section 35 of the Income-tax Act, 1961, subject to the following conditions
Notification No.S.O.295(E) – Income Tax In exercise of the powers conferred by clause (iiia) of the proviso to section 193 of the Income-tax Act, 1961, the Central Government hereby specifies all the securities of the Central Government and State Governments, interest on which is payable to
Notification No.S.O.1873 – 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 notifies United News of India as a news agency set up in India solely for collection and distribution of news, for the purposes of the said clause for the assessment years 1997-98, 1998-99 and 1999-2000
Notification No.S.O.252(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
Notification No.S.O.251(E) – Income Tax In exercise of the powers conferred by sub-section (1) of section 54EA of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby specifies the following bonds and equity shares for the purposes of the said section, namely:
Circular No. 752-Income Tax Under the provisions of section 80G of the Income-tax Act, 1961, contributions made to the A.P.C.M’s Cyclone Relief Fund have been made fully exempt from tax, and can hence be taken as a deduction from total income.
