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...
In exercise of the powers conferred by sub-clause (iv) of clause (23C) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies The Rajasthan Police Personnel Welfare Trust, Jaipur for the purpose of the said sub-clause for the assessment year 1988-89 and 1989-90.
CIRCULAR NO. 549-Income Tax A new scheme relating to assessment of partnership firms has been introduced by the Direct Tax Laws (Amendment) Act, 1987 [hereinafter referred to as the DTL(A) Act, 1987] to be effective from 1-4-1989, i.e., from the assessment year 1989-90.
In exercise of the powers conferred by sub-clause (iv) of clause (23C) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies Indira Gandhi National Centre for Art, New Delhi for the purpose of the said sub-clause for the assessment year 1989-90.
Circular: No. 548-Income Tax . Rules 11 and 12 of the Third Schedule to the Wealth-tax Act lay down the manner of computing the value of unquoted equity shares on the basis of the balance-sheet of a company. The Explanation to rule 11 provides that for purposes of this rule, “balance-sheet” in relation to any company will be the balance-sheet of such company as drawn up on the relevant valuation date and where there
It will submit to the (a) Director-General (Income-tax Exemptions), (b) Secretary, Department of Scientific and Industrial Research, and (c) Commissioner of Income-tax/Director of Income-tax (Exemptions) having jurisdiction over the organisation, by the 30th June, each year, a copy of its audited annual accounts showing its income and expenditure, and its assets and liabilities.
Notification No.S.O.850(E) – Income Tax In exercise of the powers conferred by sub-clause (ia) of clause (h) of sub-section (2) of section 80C of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies the Home Loan Account Scheme of the National Housing Bank established under section 3 of the National Housing Bank Act, 1987 (53 of 1987), for the purposes of the said sub-clause for the assessment year 1990-91 and the subsequent assessment years
In exercise of the powers conferred by sub-clause (iid) of clause (15) of section 10 of the Income-tax Act, 1961 (43 of 1961), Central Government hereby notifies the NRI Bonds, 1988 issued by the State Bank of India, a bank established under section 3 of the State Bank of India Act, 1955 (23 of 1955), for the purposes of the aforesaid sub-clause.
Circular : No. 547-Income Tax Attention is invited to the Board’s Circular No. 385C dated 3-7-1984 laying down the procedure regarding taxation under the W.T. Act of assessees in respect of their properties left in erstwhile East Pakistan after Indo-Pak conflict of 1965 and the relief granted to them in respect of such properties
Notification No.S.O.803(E) – Income Tax In exercise of the powers conferred by clause (iii) of the Explanation to sub-clause (viia) of clause (6) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies the field of “cookery” for the purposes of the said sub-clause (viia)
In exercise of the powers conferred by sub-clause (iv) of clause (23C) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies Institute for Indian Labour, Calcutta, for the purpose of the said sub-clause for the assessment years 1986-87, 1987-88 and 1988-89.
