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 article examines whether Section 58(3) of the Income-tax Act, 2025 makes tax audit compulsory whenever profits fall below 6%, ...
Income Tax : Income may become tax-free under the new tax regime because of the standard deduction and Section 87A rebate, but ITR filing may s...
Income Tax : The issue concerns whether declaring profits below the presumptive rate automatically triggers tax audit or whether turnover thres...
Income Tax : The article analyses whether declaring profits below presumptive rates automatically triggers tax audit under the Income-tax Act, ...
Income Tax : This analysis explains how charitable and religious trusts qualify for exemption under Sections 11 to 13 of the Income-tax Act. It...
Income Tax : Net direct tax collections for FY 2026-27 grew by 14.64% as of June 17, 2026, driven by higher corporate and non-corporate tax rec...
Income Tax : Association requested CBDT to rationalize CASS 2026 case selection considering the administrative burden caused by implementation ...
Income Tax : The data shows a steady increase in net direct tax collections driven by higher corporate and non-corporate tax revenues. It highl...
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 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 : CBDT has notified the Indian Institute for Human Settlements as an approved institution for social science and statistical researc...
Income Tax : CBDT has clarified that lessees need not deduct TDS on ship lease payments once the IFSC lessor submits Form 1(N), provided the Se...
Income Tax : CBDT has notified tax exemption for specified income of the Mussoorie Dehradun Development Authority under section 10(46). The not...
Income Tax : Exercising powers under Section 119(2)(b), CBDT has condoned delays in Form 10AB filing for eligible cases. The Circular does not ...
Income Tax : CBDT has approved a scientific research institution under the Income-tax Act, 2025 for tax years 2026-27 to 2030-31. The notificat...
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
Office Order No. 270 of 2021 Following transfer/postings of the officers in the grade of Commissioners of Income Tax/Directors of Income Tax, are hereby ordered with immediate effect and until further orders:
11UE. Specified conditions under Explanation to fifth and sixth proviso to Explanation 5 to clause (i) of sub-section (1) of section 9.− (1) For the purposes of clauses (i), (ii) and (iii) of the Explanation to fifth and sixth proviso to Explanation 5 to clause (i) of sub-section (1) of section 9, the declarant shall furnish an undertaking in Form No. 1 and shall append the undertakings from all the interested parties in Part M of the Annexure to the undertaking in Form No. 1 and furnish all the attachments required to be furnished under any clause or Part thereof.
All validly filed Income Tax Returns (ITRs) up to Assessment Year 2017-18 with refund claim, which could not be processed u/s 143(1) and which had become time barred, should be processed by 30/11/2021 subject to the conditions/exceptions specified therein. F.No. 225/98/2020 – ITA-II Government of India Ministry of Finance Department of Revenue Central Board of […]
In order to avoid genuine hardship to assessees authorizes the Commissioner of Income-tax, posted as Secretary to the Settlement Commission prior to 01.02.2021, to admit an application for settlement on behalf of the Interim Board filed after 31.01.2021
FEMA 1999: Govt appoints Regional Special Director (Appeals) to hear appeal against order of Adjudicating Authority MINISTRY OF FINANCE (Department of Revenue) NOTIFICATION New Delhi, the 24th September, 2021 S.O. 3958(E).—In exercise of the powers conferred by sub-section (1) of section 17 of the Foreign Exchange Management Act, 1999 (42 of 1999) and in supersession […]
