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.600(E)-Income Tax In exercise of the powers conferred by clause (v) of the Explanation to section 48 of the Income-tax Act, 1961 (43 of 1961), the Central Government, having regard to seventy-five per cent. of the average rise in the Consumer Price Index for urban non-manual employees, hereby specifies the Cost Inflation Index as mentioned in column (3) of the Table below for the financial year mentioned in the corresponding entry in column (2) of the said Table.
Circular No. 686-Income Tax Reference is invited to Board’s Circular No. 685, dated 20-6-1994 (File No. 275/69/94-ITB) providing for non-initiation of proceedings under section 221/276B/271C of the Income-tax Act, 1961 in respect of employers defaulting in deducting tax at source on the salaries and allowances paid abroad or perquisites provided abroad to their employees for services rendered in India.
Notification No. S.O.482(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 5 years 10.5 per cent. (tax-free) Secured Redeemable Non-Convertible Bonds (II-Series Issue bearing distinctive number B 2360001 to B 2500000 aggregating to an amount of rupees fourteen crores) of Rs. 1000 each
Circular No. 685-Income tax It has come to the notice of the Board that some of the employers, including foreign companies operating in India, have been defaulting in deducting tax at source as required under section 192, on the salaries and allowances paid abroad, or perquisites provided abroad
Circular No. 684-Income Tax III. Rates for deduction of income-tax at source from “Salaries”, computation of “advance tax” and charging of income-tax in special cases during the financial year 1994-95 6. The rates for deduction of income-tax at source from “Salaries” during the financial year 1994-95 and also for the computation of “advance tax” payable during that year in the case of all categories of taxpayers, have been specified in Part III of the First Schedule
Circular No. 683-Income tax The Board had issued two circulars, Circular No. 523, dated October 5, 1988 (Annex I) and Circular No. 576, dated August 31, 1990 (Annex II) in connection with the procedure to be followed in respect of grant of ‘consent’ by the Central Government in cases involving financial assistance to be given under Direct Tax Laws for rehabilitating sick industries under Sick Industrial Companies (Special Provisions) Act, 1985 (SICA)
Notification No. S.O.434(E)-Income Tax In exercise of the powers conferred by section 115K and by section 295 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 Amendment to Income-tax Rules, 1961 carried out on 7-6-1994 not reproduced here as it is already contained in the body of the rules itself.
Notification No. S.O.1406-Income Tax In exercise of the powers conferred by clause (viii) of sub-section (1) of section 36 of the Income-tax Act, 1961, the Central Government hereby approves Ind Bank Housing Limited, 178, Kodambakkam High Road, Nungambakkam, Madras, for the purpose of the said clause for the assessment years 1994-95, 1995-96 and 1996-97.
Notification No. S.O.1408-Income Tax In exercise of the powers conferred by clause (viii) of sub-section (1) of section 36 of the Income-tax Act, 1961, the Central Government hereby approves Vidarbha Housing Development Finance Company Limited, 1st Floor, Amar Palace, West Central Road, Dhantoli, Nagpur-440 012, for the purpose of the said clause for the assessment years 1991-92 to 1994-95.
Notification No. S.O.1409-Income Tax In exercise of the powers conferred by clause (viii) of sub-section (1) of section 36 of the Income-tax Act, 1961, the Central Government hereby approves Dewan Housing Development Finance Limited, Warden House, 2nd Floor, Sir P. M. Road, Fort, Bombay-400 023, as a company for the purpose of the said clause for the assessment years 1993-94 to 1995-96.
