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...
More than 30.75 lakh audit reports, including 29.5 lakh Tax Audit Reports, were filed for AY 2023-24 by the September 30 deadline, ensuring timely compliance.
CBDT’s recent notification (No. 85/2023) outlines tax exemption for the ‘National Farmers Welfare Program Implementation Society.’ Discover the income sources covered and conditions here.
CBDT’s latest notification (No. 84/2023) on ‘Punjab Nurses Registration Council’ clarifies its tax-exempt status for specific income sources. Details here.
CBDT introduces Rule 21AHA & Form 10-IFA for exercising option under Section 115BAE(5) of Income Tax Act, 1961. Learn the rules, process, and significance.
Learn about the updated procedure, format, and standards for applying for an income tax certificate under Section 197 of the Income-tax Act in India. Effective from October 1, 2023
On September 27, 2023, CBDT amended Income Tax Rule 14A & 14B, introducing Form No. 6D for Inventory Valuation. Explore changes & implications
CBDT) amends Income Tax Rule 11UA regarding valuation of unquoted equity shares for tax purposes. Learn about changes in this amendment.
Central Board of Direct Taxes (CBDT) has recently issued a crucial notification concerning the payment of interest on loans to Non-Banking Financial Companies (NBFCs) under Section 43B(da) of the Income Tax Act. This notification, dated September 22, 2023, brings forth significant implications for both NBFCs and borrowers. Ministry of Finance (Department of Revenue) (Central Board […]
Explore recent notification (No. 79/2023) from Ministry of Finance regarding classification of non-banking financial companies (NBFCs) for income tax purposes.
Learn about measures to enhance grievance redressal as per Grievance Redressal & Assessment Index (GRAI) in this official memorandum from Ministry of Finance, Government of India
