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.
CA, CS, CMA : Key updates from Income Tax, GST, DGFT, RBI, and more for the week ending 29th Dec 2024....
CA, CS, CMA : Review of significant legal, tax, GST, and SEBI updates during the week ending 22nd December 2024, including new guidelines and ju...
CA, CS, CMA : Explore tax & GST updates for Nov 25–Dec 1, 2024, including safe harbour for diamonds, GST e-invoicing, HC rulings, Section 194N...
CA, CS, CMA : Summary of key notifications in Income Tax, GST, SEBI, and IBBI regulations during the week of Nov 18-24, 2024, covering filing pr...
Income Tax : The Vivad Se Vishwas Scheme 2024 simplifies tax dispute resolution, offering discounts and waivers to reduce litigation burden. Se...
Income Tax : The Institute of Cost Accountants of India seeks inclusion of Cost Accountants in the definition of "Accountant" under Section 515...
Income Tax : Government addresses Supreme Court judgment on tax exemptions for clergy and its implications on Hindu Undivided Families (HUFs) u...
Income Tax : Analysis of tax exemptions for individuals vs corporations, middle-class benefits, and the impact of measures under the new tax re...
Income Tax : Details on tax incentives for corporates, revenue loss since 2020, monitoring mechanisms, emerging sector benefits, and job creati...
Income Tax : Out of 3.94 crore valid ITRs for AY 2024-25, refunds were processed for 3.68 crore. Reasons for delays include invalid bank detail...
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 issue to be considered is whether the profit earned by the assessee from the activity of recruitment and training of personne...
Income Tax : Details of the Lok Sabha Select Committee's sittings on March 6-7, 2025, to examine the Income-Tax Bill, 2025, with oral evidence ...
Income Tax : CBDT updates income tax rules and forms for business and securitization trusts. Notification 17/2025 amends Rules 12CA & 12CC, imp...
Income Tax : Key updates on income tax deduction from salaries under Section 192 for FY 2024-25, including amendments, surcharge rates, and new...
Income Tax : CBDT extends the due date for filing Form 56F under Section 10AA(8) and 10A(5) of the Income-tax Act, 1961, to March 31, 2025, for...
Income Tax : The Central Government notifies Punjab RERA for tax exemption under Section 10(46A) of the Income-tax Act, effective from the 2024...
Central Government Notifies Tolerance Band for Assessment Year 2021-22 in case of wholesale trading and others vide Notification No. 124/2021- Income Tax Dated: 29th October, 2021. MINISTRY OF FINANCE (Department of Revenue) Notification No. 124/2021- Income Tax New Delhi, the 29th October, 2021 S.O. 4586(E).—In exercise of the powers conferred by the third proviso to […]
CBDT clarifies that eligibility of exemption under clause (23FE) of section 10 of the Act shall be as follows: – (a) if the loans and borrowings have been taken by the specified fund or any of its group concern, specifically for the purposes of making investment by the specified fund in India, such fund shall not be eligible for exemption under clause (23FE) of section 10 of the Act;
CBDT authorizes Director General of Income-tax (Systems) to upload information relating to Foreign remittance information reported in Form 15CC, Information in Annexure II of the 24Q TDS Statement of the last quarter, Information in ITR of other taxpayer, Interest on Income Tax Refund, Information in Form 61/61A where PAN could be populated, Off Market Transactions […]
The issue of treatment of additional payment for sugarcane price by Cooperative sugar mills as an income distribution to farmer members and resultant tax liabilities has been brought to notice of CBDT
Central Government, in consultation with the Chief Justice of the High Court of Manipur designates Special Court in the Manipur under Section 280A(1) of Income Tax Act 1961 vide Notification No. 124/2021 – Income Tax Dated: 25th October, 2021. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) (Investigation Division-V) New Delhi Notification […]
Central Government, in consultation with the Chief Justice of the High Court of Bombay designates Special Court in the Goa under Section 280A(1) of Income Tax Act 1961 vide Notification No. 123/2021 – Income Tax Dated: 25th October, 2021. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) (Investigation Division-V) New Delhi Notification […]
Central Government, in consultation with the Chief Justice of the High Court of Karnataka designates Special Court in the Karnataka under Section 280A(1) of Income Tax Act 1961 vide Notification No. 122/2021 – Income Tax Dated: 25th October, 2021. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) (Investigation Division-V) New Delhi Notification […]
Vide Notification No. 121/2021-Income Tax | Dated: 13th October, 2021 CBDT notifies Tax Exemption under section 10(46) to ‘Punjab State Electricity Regulatory Commission’, Chandigarh in respect of the specified income for Financial Years 2021-2022, 2022-2023, 2023-2024, 2024-2025 and 2025-2026. MINISTRY OF FINANCE (Department of Revenue) CENTRAL BOARD OF DIRECT TAXES) New Delhi Notification No. 121/2021-Income […]
Form and manner of furnishing undertaking under first proviso to section 119.- The form and manner of furnishing undertaking under Explanation to fifth and sixth proviso to Explanation 5 to clause (i) of sub-section (1) of section 9 of the Income-tax Act, 1961 (43 of 1961), as prescribed under sub-rule (1) and sub-rule (3) of rule 11UE and rule 11UF of the Income-tax Rules, 1962, shall mutatis mutandis apply to clauses (i), (ii) and (iii) of the first proviso to section 119 of the Finance Act, 2012 (23 of 2012).
Central Government, hereby exempts the following class of persons mentioned in column (2) of the Table below, subject to the conditions specified in column (3) of the said Table , from the requirement of furnishing a return of income under sub-section (1) of section 139 of the said Act from assessment year 2021-2022 onward
