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...
Understand Rule 12 of Income Tax Rules & get to know what amendments were made wef 01.04.2023 for AY 2023-24. Learn more
CBDT notifies Format & Particulars of Income Tax Return Forms ( ITR-1 SAHAJ, ITR-2, ITR-3, ITR-4 SUGAM, ITR-5, ITR-6, ITR-V) and Income Tax Return Acknowledgement (ITR-V) for Assessment Year 2023-24/Financial Year 2022-23 vide Notification No. 04/2023 Dated 10th February 2023. Last Year CBDT notifies ITR for AY 2022-23 on 30th March 2023 vide Notification No. 21/2022-Income […]
Centralised Processing of Equalisation Levy Statement Scheme, 2023 shall be applicable in respect of processing of Equalisation Levy Statements.
In Circular no. 23 of 2022 dated 03.11.2022, in sub-point (iii) of the point (I) of sub-paragraph (A) of paragraph 28.5, the words two assessment years preceding such assessment year shall be read as any assessment year preceding such assessment year.
F No. 189/3/2022-ITA-I Government of India Ministry of Finance Department of Revenue (Central Board of Direct Taxes) North Block, New Delhi. ***** Dated: 06th February, 2023 Office Order Subject: Setting up of office for operationalising Boards for Advance Rulings – reg. In continuation to the Notification No.96 of 2021 dated the 1st September, 2021 published […]
Supreme Court in the matter of Shri Ashish Agarwal, several representations were received asking for time-barring date of such cases, in the light of communication sent by ITBA. The Board is of the view that such cases have to be completed by 31.05.2023
Income Tax Gazetted Officers’ Association (W.B.) Unit Date: 02.02.2023. To The Principal Chief Commissioner of Income Tax, West Bengal & Sikkim Region, Kolkata. Sir, Sub: Time barring date for reopening cases arising out of the direction of the Hon’ble SC in the case of Ashish Agarwal-matter regarding. Your kind attention is invited to the minutes […]
CBDT directed that cases reopened u/s 147/148A in consonance with Judgement of SC in case of UoI vs. Ashish Agarwal & CBDT instruction No. 01/2022 dated 11.05.2022 shall be completed on or before 31.05.2023.
CBDT notifies CBDT notifies California Public Employees Retirement System as pension fund under sub-clause (iv) of clause (c) of the Explanation 1 to clause (23FE) of section 10 of Income-tax Act, 1961 vide Notification No. 02/2023 – Income Tax Dated: 25th January, 2023. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) New Delhi Notification […]
Representation against Extension of time limit under section 54 to 54GB without extension of Income Tax Return due date Vidarbha Industries Association has made a Representation against recent CBDT Circular No. 1/2023 Dated 06.01.2023 by which time limit for compliance to be made for claiming any exemption under Section 54 to 54GB of the Income-tax […]
