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 pursuance of para 4 of S.O. 5429(E) Notification No. 139/2021/F.No.370142/66/2021- TPL, dated the 28th December, 2021, notifying the Faceless Appeal Scheme, 2021, the Central Board of Direct Taxes hereby makes the following amendments in the Office Order — 4 of even number dated 29.12.2021
Vide Notification No. 8/2023-Income Tax| Dated: 28th February, 2023 CBDT notifies amendment in ITR forms for AY 2023-24 / FY 2022-23. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) Corrigendum Notification No. 8/2023-Income Tax| Dated: 28th February, 2023 G.S.R. 156(E).—In the notification of the Government of India, Ministry of Finance, Department of Revenue […]
CBDT amends Rule 16CC Form of report of audit prescribed under tenth proviso to section 10(23C), Rule 17B Audit report in the case of charitable or religious trusts, etc. and ‘FORM No. 10B – Audit report under clause (b) of the tenth proviso to clause (23C) of section 10 and sub-clause (ii) of clause (b) of […]
High-Risk CRIUNRU PAN Case and High-Risk CRIUNRU Non-PAN Cases – Dissemination of Cases on the ‘Verification’ module of Insight portal (RMS Cycle-2)
Dissemination of Cases on ‘Verification’ module of Insight portal for Assessment, Investigation and TDS wings as per Risk Management Strategy (Cycle-2) of CBDT
In this regard, potential cases pertaining to AY 2016-17 and AY 2019-20 identified on the basis of risk assessment of verification reports uploaded in the STR module, have been disseminated to field formations with below mentioned case types on the Verification module of the Insight portal.
Central Government hereby specifies ‘Secretary (Information Technology & Digital Service Department), Directorate of e-Governance, Government of Tamil Nadu’ for the purposes of the said clause in connection with sharing of information regarding income-tax assessees for identifying genuine beneficiaries and proper implementation of all the Centrally sponsored schemes and welfare schemes of the state of Tamil Nadu.
Where the Revenue Audit objection is accepted, the PCIT shall decide if the relevant order under audit requires revision it’s 263 as remedial action. If yes, he shall call for the relevant records and proceed to initiate action u/s 263.
CBDT notified Income-tax Return Forms (ITR Forms) for Assessment Year 2023-24 vide Notifications No. 04 & 05 of 2023 dated 10.02.2023 and 14.02.2023.
CBDT notifies ITR-7 for Assessment Year 2023-24/Financial Year 2022-23 vide Notification No. 05/2023-Income Tax Dated: 14th February, 2023. MINISTRY OF FINANCE (Department Of Revenue) (CENTRAL BOARD OF DIRECT TAXES) New Delhi Notification No. 05/2023-Income Tax Dated: 14th February, 2023 G.S.R 95(E).—In exercise of the powers conferred by section 139 read with section 295 of the […]
