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.489(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
Circular No. 653-Income Tax Section 80U as it existed till the assessment year 1989-90 and earlier years provided for a deduction in the case of a resident individual assessees suffering from a permanent physical disability (including total blindness).
Circular No. 652-Income tax Under sub-item 2(ii ) of Item-III of Appendix I to the Income-tax Rules, 1962, higher rate of depreciation is admissible on motor buses, motor lorries and motor taxis used in a business of running them on hire.
Circular No. 651-Income tax A Central Act called “The Interest on Delayed Payments to Small Scale and Ancillary Industrial Undertakings Act, 1993 (No. 32 of 1993)” has been enacted with effect from 23-9-1992, which provides for payment of certain amount of mandatory interest to the buyers of goods and services from small scale
Circular No. 650-Income tax The Board, vide Circular No. 645, dated March 15, 1993 has clarified that luxury tax and such other taxes levied by the State Governments will form part of the “room charges” for the determination of applicability of the Expenditure-tax Act to any particular hotel.
Notification No.S.O.1376 – 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 the Custodian, appointed under the Special Court (Trial of Offences Relating to Transactions in Securities) Act, 1992, Room No. 24, Jeevan Deep, Parliament Street, New Delhi, for the purposes of the said sub-clause of the Income-tax Act, 1961
Notification No.S.O.1375 – 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 the Board for Industrial and Financial Reconstruction, established under section 4 of the Sick Industrial Companies (Special Provisions) Act, 1985 (1 of 1986), for the purpose of the said sub-clause
Circular No. 649-Income tax Section 44C of the Income-tax Act, 1961, provides for deduction of Head Office expenditure in the case of non-residents. It defines “head office expenditure” to mean executive and general administrative expenditure incurred by the assessee outside India, including certain specified expenditure.
Circular No. 648-Income tax The Board in F. No. 14/9/65-IT(A-I), dated 22-9-1965 (Annex I), as subsequently modified in Instruction No. 1546, dated 6-1-1984 (Annex II), had granted, subject to conditions therein specified, the benefit ofad hoc deduction in respect of the expenses incurred by agents of the Life Insurance Corporation.
Circular No. 647-Income tax The Certificates of Deposits (CDs) and the Commercial Papers (CPs) are money-market related instruments which are traded in the secondary market. These are negotiable instruments in the nature of usance promissory notes which are issued
