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...
Pension Adalat is to be held on 15th of December, 2020 through Video Conferencing. A notice in advance intimating the time and link for Video Conferencing for the Adalat would be sent to all the stake holders viz. HoD, DDO, PAO, officials of concerned Banks for their participation and the concerned Pensioners, if they so desire to participate.
The Institute of Chartered Accountants of India, in its gazette notification dated 2nd August, 2019, had made generation of UDIN from ICAI website www.icai.org mandatory for every kind of certificate/tax audit report and other attests made by their members as required by various regulators. This was introduced to curb fake certifications by non-CAs misrepresenting themselves as Chartered Accountants.
In the matter of Central Administrative Tribunal (Principal Bench) Bar Association Vs. Union of India, the Central Government hereby extends the term of following Vice President/Member in Income Tax Appellate Tribunal (ITAT) till 31.12.2020,
SOPs for AU, VU, TU and RU approved by CBDT for implementation of Faceless Income Tax Assessment Scheme, 2019 (FAS-2019). The same may be disseminated among the Units under your region for compliance by all of them.
F.No. A-22011/6/2020-Ad-VI Government of India Ministry of Finance Department of Revenue (Central Board of Direct Taxes) North Block, New Delhi -110 001 Dated: 12.11.2020 Office Order No. 220 of 2020 Consequent upon diversion of posts of Commissioner of Income Tax (Appeal) to the newly created National Appellate Faceless Centre (NFAC), Delhi and its four Regional […]
Office Order No. 219 of 2020 The following transfer/postings (Local changes) of the officers in the grade of Joint Commissioner/Additional Commissioner of Income Tax, are hereby ordered with immediate effect and until further orders:
DIRECT TAXES UPDATES Recent circulars/ notifications/ rules/ clarifications/News CBDT issues notification extending the due dates for Income Tax Returns & Tax Audit Reports, as follows (Notification no. 88/2020 dated 29.10.2020) -Without tax audit- 31.12.2020 -Transfer pricing and tax audit- 31.01.2021 -Income Tax return FY 2018-19 -30.11.2020 CBDT notifies Equalisation Levy (Amendment) rules, 2020 & related […]
In all the cases of belated applications in filing of Form No. l OBB for years prior to AY. 2018-19, the Commissioners of Income-tax are authorized to admit such applications for condonation of delay u/s 119(2)(b) of the Act. The Commissioner will while entertaining such applications regarding filing Form No. lOBB shall satisfy themselves that the applicant was prevented by reasonable cause from filing such application within the stipulated time. Further, all such applications shall be disposed of by 31.03.2021.
Section 10(23FE)(b)(vi)- CBDT hereby specifies the sovereign wealth fund, namely, MIC Redwood 1 RSC Limited, Abu Dhabi, United Arab Emirates, as the specified person
With the COVID-19 pandemic playing havoc and resulting in many practical challenges, the Indian Government has come out with various relief measures and also extended different statutory deadlines. Recently, the Finance Ministry via Press Release and as per Notification No. 88/2020 issued by CBDT dated 29 October 2020 announced further extension of deadlines for filing […]
