Case law › Notifications › 2024 › Notification No. 14/2024 [F. No. 300196/8/2020-ITA-I] / SO 327(E)

Notification 23 January 2024

Notification No. 14/2024 [F. No. 300196/8/2020-ITA-I] / SO 327(E)

Ministry of Finance

What this is

Notification No. 14/2024 [F. No. 300196/8/2020-ITA-I] / SO 327(E) was published on 23 January 2024. Its subject is Ministry of Finance.

What it does

The notification rewrites paragraph 3 of a group of earlier notifications so as to fix the years for which each of them applies. In ten notifications — S.O. 2774(E) dated 9 July 2021, S.O. 2826(E) dated 14 July 2021, S.O. 4523(E) and S.O. 4525(E) both dated 29 October 2021, S.O. 73(E) dated 6 January 2022, S.O. 1769(E) dated 11 April 2022, S.O. 1977(E) dated 28 April 2022, S.O. 1044(E) dated 3 March 2023, S.O. 1690(E) dated 10 April 2023 and S.O. 2155(E) dated 10 May 2023 — paragraph 3 is to read that the notification is deemed to have been applied for financial years 2020-21 to 2024-25, relevant to assessment years 2021-22 to 2025-26. In the further notification S.O. 1585(E) dated 1 April 2023, paragraph 3 is to read that it is deemed to have been applied for financial years 2020-21 to 2022-23, relevant to assessment years 2021-22 to 2023-24.

Why it was issued

The explanatory memorandum certifies that no person is being adversely affected by giving retrospective effect to the notification.

Who it reaches

The bodies and authorities covered by the eleven notifications listed
Assessing Officers deciding for which years each of those notifications operates
Return preparers stating the years of application in the entity's return
The Commissioner of Income-tax (Exemptions) charges concerned

The provisions it speaks to

Left, the provision of the Income-tax Act, 1961 as the instrument itself names it. Right, the section of the Income-tax Act, 2025 that the department’s own concordance maps it to — which is where the same ground is now covered.

Under the 1961 Act	Now
s.3	s.3

The instrument, as the Board published it

The department publishes this one only as a PDF, so the words below were read out of that PDF by machine. That reading can carry its own mistakes — a misread number, a broken line. Check the signed document before you rely on a figure in it.

MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF DIRECT TAXES)
NOTIFICATION
New Delhi, the 23rd January, 2024
S.O. 327(E).—In the notifications of the Government of India, Ministry of Finance, Department of Revenue (Central Board of Direct Taxes), published in the Gazette of India, Extraordinary, Part-II, Section 3, Sub-section (ii), bearing number S.O. 2774(E) dated the 9th July, 2021, S.O. 2826(E) dated 14th July, 2021, S.O. 4523(E) dated 29th October, 2021, S.O. 4525(E) dated 29th October, 2021, S.O. 73(E) dated 6th January, 2022, S.O. 1769(E) dated 11th April, 2022, S.O. 1977(E) dated 28th April, 2022, S.O. 1044(E) dated 3rd March, 2023, S.O. 1690(E) dated 10th April, 2023 and S.O. 2155(E) dated 10th May, 2023, the paragraph 3 shall be read as the following, namely,-

"This notification shall be deemed to have been applied for the financial year 2020-2021 to financial year 2024-2025 relevant to the assessment year 2021-2022 to assessment year 2025-2026."

And
In the notification of the Government of India, Ministry of Finance, Department of Revenue (Central Board of Direct Taxes), published in the Gazette of India, Extraordinary, Part-II, Section 3, Sub-section (ii), bearing number S.O. 1585(E) dated the 1st April, 2023, the paragraph 3 shall be read as the following, namely,-

"This notification shall be deemed to have been applied for the financial year 2020-2021 to financial year 2022-2023 relevant to the assessment year 2021-2022 to assessment year 2023-2024."

[Notification No. 14/2024 F. No. 300196/8/2020-ITA-I]
VIKAS SINGH, Director (ITA-I)

Explanatory Memorandum
It is certified that no person is being adversely affected by giving retrospective effect to this notification.

Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064
and Published by the Controller of Publications, Delhi-110054.

From when

Financial year 2020-21 (assessment year 2021-22) onwards, retrospectively.

What to watch

The change is retrospective, reaching back to financial year 2020-21 and assessment year 2021-22.
Two different spans are prescribed: ten notifications run to financial year 2024-25, but S.O. 1585(E) dated 1 April 2023 stops at financial year 2022-23.
The notification amends only paragraph 3 of each instrument; the specified income and the conditions in the earlier paragraphs are untouched.
Each affected entity must be traced through its own S.O. number, as this notification names the notifications and not the entities.

Where you meet it

In the return of income of an entity covered by one of the listed notifications, and in any assessment turning on whether the notification applied to the year in question.

On the same provision

Other instruments in this library that name the same provision of the 1961 Act. They are not necessarily still operative, and a later one may have replaced an earlier one without saying so.

Notification No. 94/2026 [F. No. 370142/24/2026-TPL] / G.S.R. 646(E) : Income-tax (Second Amendment) Rules, 2026 : Amendment of rule 157 of the Income tax Rules, 2026 to align the definition of the specified fund with rule 114AAB of the Income tax Rules, 1962 — Ministry of Finance 21 July 2026
Notification No. 64 — [भाग II—खण् ड 3(i)] भारत का रािपत्र : असाधारण 7 16 April 2026
Notification No. 63/2026 [F. No. 370142/13/2026-TPL]/ GSR 268(E) — 2 the Gazette of INDIA : Extraordinary [Part Ii—sec. 3(i)] 10 April 2026
Notification No. 62/2026 [F. No. 370142/10/2026-TPL]/ GSR 267(E) — Ministry of Finance 10 April 2026
Notification No. 61/2026 [F. No. 370142/9/2026-TPL] / GSR 266(E) — [भाग II—खण् ड 3(i)] भारत का रािपत्र : असाधारण 3 10 April 2026
Notification No. 60/2026 [F. No. 370142/8/2026-TPL]/ GSR 265(E) — 2 the Gazette of INDIA : Extraordinary [Part Ii—sec. 3(i)] 10 April 2026

← Notification No. 15/2024 [F. No. 196/18/2020-ITA-I(Part-1)] / SO 328(E) · Notification No. 13/2024 [F.No. C-14011/41/2018-V&L] / SO 312(E) →

What a notification is. A notification is made under a power the Act itself gives, and within that power it is law — unlike a circular, which only binds the department. Its reach is the reach of the enabling provision and no wider, and the date it carries decides from when it works.

Source: the Income Tax Department’s own published text — its page for this instrument.