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.874(E)-Income Tax In exercise of the powers conferred by clause (23D) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies CRB Mutual Fund authorised by the Securities and Exchange Board of India and registered in accordance with the Securities and Exchange Board of India (Mutual Funds) Regulations, 1993, made under the Securities
Circular No. 695-Income tax The Board has had occasion to examine the procedure being followed for authorisation of remittances to non-residents. Under section 195(1) of the Income-tax Act, any person responsible for paying to a non-resident any sum chargeable to tax under the Act excepting interest on securities and income under the head “Salaries”
Notification No. S.O.856(E)-Income Tax In exercise of the powers conferred by section 295 read with sub-section (3) of section 269UC of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely:– This notification contains Amendments to Income-tax (Twelfth Amendment) Rules, 1994 carried out on 29th November, 1994 not reproduced here as it is already contained in the body of the rules itself
Notification No. S.O.844(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 specifies the XIth Series Issue, Seven Years–15.5 per cent. (Taxable) Secured Redeemable Bonds allotted on 26-2-1994 bearing distinctive numbers from K00000001 to K00022600 of Rs. 1,000 each aggregating for an amount of Rs. 2.26
Notification No. S.O.845(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 Years–10.5 per cent. (payable half-yearly) Tax-free Secured Redeemable Bonds (XI Series Issue) bearing distinctive numbers KO 1285001 to KO 2285000 aggregating to an amount of rupees 100 crores
Circular No. 694-Income tax Section 10A of the Income-tax Act provides for a five-year total tax holiday to industrial undertakings which manufacture or produce any article or thing and are set up in notified Free Trade Zones (FTZs). This provision was introduced by the Finance Act, 1981
Notification No. S.O.832(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 per cent. (Tax-free) REC Bonds–2001 (XXVIth series) bearing distinctive numbers 600001 to 600060 face value of Rs. 6 lakhs at the rate of Rs. 10,000 each, 700001 to 700744 face value of Rs. 7.44 crores
Circular No. 693-Income tax Section 80HHC of the Income-tax Act allows a deduction from the gross total income of the entire profits derived from export of goods other than minerals. Finance (No. 2) Act, 1991 extended the benefit to export of processed minerals and ores mentioned in the Twelfth Schedule to the Income-tax Act. Item (x) of the Schedule mention “cut and polished minerals and rocks including cut and polished granite
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 notifies the Indian Institute of Management, Bangalore, for the purposes of the said clause.
Circular No. 692-Income tax Reference is invited to the Board’s Circular No. 655, dated the 26th August, 1993, regarding deduction of income-tax at source from the payment of interest on securities for the financial year 1993-94.
