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...
Considering the difficulties being faced in issuing and amending Form no 3, which is a prerequisite for making payment by the declarant under Vivad se Vishwas Act, it has been decided to extend the last date of payment of the amount (without any additional amount) to 30th September, 2021. Necessary notification to this effect shall be issued shortly.
No tax demand shall be raised in future on the basis of the amendment to section 9 of the Income-tax Act made vide Finance Act, 2012 for any offshore indirect transfer of Indian assets if the transaction was undertaken before 28th May, 2012 (i.e., the date on which the Finance Bill, 2012 received the assent of the President).
Empanelment of the following officers for promotion to the grade of Chief Commissioner of Income Tax (CCIT) in the Indian Revenue Service (Income Tax) in Level 16 in the Pay Matrix for the panel year 2021 w.e.f the date of assumption of the charge of the post and until further orders:
CBDT notifies Two new Income Tax Rules vide Notification No. 93/2021- Income Tax dated 18th August, 2021 i.e. Rule 12AA. Prescribed person for the purposes of clause (c) and clause (cd) of section 140 and Rule 51B. Appearance by Authorised Representative in certain cases. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) […]
Office Order No. 209 of 2021 The following transfer/postings (Local changes) of the officers in the grade of Assistant/Deputy Commissioner of Income Tax, are hereby ordered with immediate effect and until further orders:
Office Order No. 206 of 2021 In supersession of all earlier orders, the following transfer/postings of the officers in the grade of Principal Commissioners of Income Tax/Principal Directors of Income Tax, are hereby ordered with immediate effect and until further orders:
In section 9 of the Income-tax Act, 1961, in sub-section (1), in clause (i), in Explanation 5, after the third proviso, the following provisos shall be inserted, namely:— “Provided also that nothing contained in this Explanation shall apply to— (i) an assessment or reassessment to be made under section 143, section 144, section 147 or section 153A or section 153C; or (ii) an order to be passed enhancing the assessment or reducing a refund already made or otherwise increasing the liability of the assessee under section 154; or
Taxation Laws (Amendment) Bill, 2021 Key Features of Taxation Laws (Amendment) Bill, 2021 1. Provides that no tax demand shall be raised in the future based on the retrospective amendment made through Finance Act, 2012, for any indirect transfer of Indian assets if the transaction was undertaken before 28th May 2012. 2. Provides that the […]
Office Order No. 203 of 2021 The following 497 transfer/postings of the officers in the grade of Joint Commissioner/Additional Commissioner of Income Tax, are hereby ordered with immediate effect and until further orders:
The government introduced the Taxation Laws (Amendment) Bill, 2021, which seeks to withdraw tax demands made under the Finance Act, 2012 retrospective legislation to tax the indirect transfer of Indian assets. The Taxation Laws (Amendment) Bill, 2021 inserted three provisos (Fourth, Fifth, and Sixth Proviso) in Explanation 5 to Section 9(1)(i) to give relief to […]
