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.933(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 Indbank Offshore Mutual Fund set up under a trust deed dated June 27, 1993, by the Indian Bank, a corresponding new bank constituted under section 3 of the Banking Companies (Acquisition and Transfer of Undertakings) Act
Notification No.S.O.10 – Income Tax In exercise of the powers conferred by clause (ix) of section 47 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies the Indira Gandhi National Centre for Arts, New Delhi, for the purpose of the said sub-clause for the assessment years 1995-96 to 1998-99
Notification No.S.O.898(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 year 9% per cent. (tax-free) Secured Redeemable Non-convertible Bonds (G Series bearing distinctive numbers 71900001 to 71970000 aggregating an amount of rupees seven crores) of Rs. 1,000 each, issued
Notification No-S.O.9 – Income Tax It is notified for the general information that M/s. Peerless Abason Finance Limited, 9, London Street, Calcutta–700 017, have been approved by the Central Government as a housing finance company for the purposes of section 36(1)(viii) of the Income-tax Act, 1961, for the assessment years 1991-92 to 1995-96
Notification No.S.O.873(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 the 10 years-9 per cent. (tax-free) Secured Redeemable non-convertible Bonds (E Series 5th issue bearing distinctive numbers E 2800001 to E 3800000 aggregating to an amount of rupees one hundred crores) of
Notification No.S.O.825(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 ICICI Mutual Fund set up under Trust deed dated 25th August, 1993, by the Industrial Credit and Investment Corporation of India Limited, a public financial institution under section 4A of the Companies Act, 1956, as a mutual
Circular No. 671-Income Tax References have been received as to whether the amount paid by an assessee for obtaining a new telephone connection under the “Tatkal Telephone Deposit Scheme” can be allowed as a revenue expenditure under section 37(1) of the Income-tax Act, 1961, while computing the income under the head “Profits and gains from business or profession
Circular No. 670-Income Tax I am directed to forward herewith the order contained in F. No. 225/208/93/ITA-II, dated 12th October, 1993, passed by the CBDT in exercise of the powers conferred on it under section 119(2)(b) of the Income-tax Act. By virtue of this order the Assessing Officers can admit belated refund claims under section 237 of the Income-tax
Circular No. 669-Income tax Attention is invited to Board’s Circular No. 581, dated 28-9-1990 [Clarification 1], wherein it was, inter alia, stated that where a deduction claimed is disallowed as, prima facie, inadmissible for want of evidence in support thereof under section 143(1)(a), it cannot be subsequently allowed by a rectification order under section 154
Notification No.S.O.2463 – Income Tax In pursuance of sub-clause (ii) of clause (a) of sub-section (1) of section 138 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies, for the purposes of the said sub-clause, any police officer not below the rank of Superintendent of Police or any officer specially authorised in this behalf by a police officer of or above the rank of Superintendent of Police of
