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.249(E)-Income Tax In exercise of the powers conferred by sub-clause (ii) of clause (10AA) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government, having regard to the maximum amount receivable by its employees as cash equivalent to leave salary in respect of the period of earned leave at their credit at the time of their retirement whether on superannuation or otherwise
Circular No.739-Income Tax The Board have considered the representations. Since the amended provisions of section 40(b) have been introduced only with effect from the assessment year 1993-94 and these may not have been understood correctly the Board are of the view that liberal approach may be taken for the initial years. It has been decided that for the assessment years 1993-94 to 1996-97 deduction for remuneration to a working partner may be allowed on the basis of the clauses of the type mentioned at 1(i) above.
Income Tax The industrial furnaces and industrial oil burning equipment are not covered by Part IV of the First Schedule to the Finance Act, 1964.
Notification No. S.O.237(E)-Income Tax In exercise of the powers conferred by clause (iii) of sub-section (2) of section 194K of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies the following scheme of the Canbank Mutual Fund as the scheme having regard to the plan of payment of income to the unitholders for the purpose of the said clause
Notification No. S.O.229(E)-Income Tax In exercise of the powers conferred by section 118 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following amendments in the notification of the Government of India, Central Board of Direct Taxes No. S. O. 359(E), dated 30th March, 1988
Notification No. S.O.204(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 16.25 per cent. (Taxable) Secured Redeemable Non-convertible Bonds bearing distinctive numbers from C-1160001 to C-2500000 of Rs. 1,000 each aggregating to an amount of rupees one hundred thirty-four crores only
Notification No. S.O.205(E)-Income Tax In exercise of the powers conferred by item (h) of sub-clause (iv) of clause (iv) of clause (15) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies 10.5 per cent. per annum (Tax-free) Secured Redeemable Non-convertible NHPC Bonds (I-Series) bearing distinctive numbers 601 to 91514600 of Rs. 1,000 each aggregating to an amount
Notification No. G.S.R.117(E)-Income Tax Whereas the Central Government is satisfied that it is necessary and expedient so to do, in the public interest to make modification in regard to the status in which persons, specified in sub-section (2) of section 293A of the Income-tax Act, 1961 (43 of 1961), are to be assessed on their income from the business consisting of the prospecting for or extraction or production of mineral oil.
Notification No. S.O.164(E)-Income Tax In exercise of the powers conferred by clause (a) of sub-section (2) of section 119 of the Income-tax Act, 1961 (43 of 1961), read with rule 111B of the Income-tax Rules, 1962, the Central Government hereby specifies that the time limit of 3 years for sale of attached immovable property under rule 68B of Schedule II to the Income-tax Act, 1961 (43 of 1961), is to be extended to 4 years
Circular No. 737-Income Tax Sections 44AD and 44AE were inserted in the Income-tax Act, 1961, by the Finance Act, 1994, w.e.f. 1st April, 1994. Section 44AD provides for a method of estimating income from the business of civil construction or supply of labour for civil construction work, where the gross receipts from the business do not exceed Rs. 40 lakhs.
