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.1142-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 specifies the Press Trust of India Ltd., New Delhi, as a news agency set up in India soley for collection and distribution of news for the purposes of the said clause for the assessement years 1994-95, 1995-96 and 1996-97.
Circular No. 691-Income tax NoCircular . 341, dated 10-5-1982 (Annex) had been issued in the, wake of the Supreme Court’s judgment in the case of Cloth Traders (P.) Ltd [1979] 118 ITR 243/1 Taxman 335. This decision was subsequently overruled by the Supreme Court in the case ofDistributors (Baroda) (P.) Ltd v. Union of India [1985] 155 ITR 120/22 Taxman 49 which therefore gives the correct legal position
Circular No. 690-Income tax Reference is invited to Board’s Circular No. 654, dated the 22nd July, 1993, wherein the rates of deduction of income-tax from the payment of income under the head ‘Salaries’ under section 192 of the Income-tax Act, 1961, during the financial year 1993-94, were intimated. The present circular contains the rates of deduction of income-tax from the payment of income
Notification No. S.O.2449-Income Tax In exercise of the powers conferred by clause (viii) of sub-section (1) of section 36 on Income-tax Act, 1961, the Central Government hereby approves Indian Renewable Energy Development Agency Limited, 3, Ring Road (FF), Kilokari, Opposite Maharani Bagh, New Delhi-110 014, as a company for the purpose of the said clause for the assessment years 1995-96 to 1997-98.
Notification No. S.O.2450-Income Tax In exercise of the powers conferred by clause (viii) of sub-section (1) of section 36 on Income-tax Act, 1961, the Central Government hereby approves M/s. Delhi Financial Corporation, Saraswati Bhavan, E-Block, Cannaught Place, New Delhi, as a company for the purpose of the said clause for the assessment years 1989-90 to 1995-96.
Notification No. S.O.634(E)-Income Tax In exercise of the powers conferred by sub-clause (xiiic) of clause (2) of section 88 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies the Retirement Benefit Unit Scheme set up by the Unit Trust of India as a pension fund for the purposes of the said sub-clause.
Notification No. S.O.635(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 7 years-16.5 % (taxable) Secured Redeemable (Xth Series Issue) Bonds bearing serial Numbers J00000001 to J01875000 of rupees one thousand each of the aggregating value of rupees one hundred eighty-seven crores
Circular No. 689-Income tax owSection 143(1)(a) authorises, with effect from assessment year 1989-90, inter alia, disallowance of any loss carried forward, deduction, allowance or relief claimed which, on the basis of information available in the return or the accompanying accounts or documents, isprima facie inadmissible
Circular No. 688-Income tax A doubt has been raised whether graduate or post-graduate courses in architecture would be covered as a branch of engineering for the purpose of the tax concession under section 80E of the Income-tax Act.
Circular No. 687-Income tax Kisan Vikas Patras were introduced on 1st April, 1988. The Department of Economic Affairs, Ministry of Finance, in its notifications dated 23-3-1988, 16-12-1991, 24-4-1992 and 2-9-1993 had specified the amount payable on these after 2½ years and up to the date of maturity. However, interest and maturity amount during 2½ years had not been provided in these notifications
