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...
I am directed to refer to Board’s letter dated 24th May, 2019 regarding Region-wise allocation of revised Budget Estimates(BE) of Rs. 13,35,000 Crores for the Financial Year 2019-20. In this regard, it is stated that in the Receipt Budget 2020-21, Rs. 11,70,000 Crores (reduction of Rs. 1,65,000 Crores) has been allocated as Revised Estimates (RE) for Direct Taxes for the Financial Year 2019-20.
President Assents Finance Act, 2020 on 27th March 2020. Finance bill 2020 was presented in Lok Sabha on 01.11.2020 and get passed in Lok Sabha on 23.03.2020. After passing of bill from Lok Sabha the bill was presented in the Rajya Sabha on the same day, which returned the same without consideration, which effectively means […]
Principal Chief Commissioner Of Income-Tax Shri Satish Kumar Gupta from Mumbai has requested the CBDT for Extension of date of Limitations under Income Tax Act, 1961 due to spread of Covid-19 Virus and related Impact on working of Department. He referred to lock -down and restricted movement to contain the spread of the viral infection. […]
CBDT further extends the ‘due-date’ for filing of Income-tax Returns/Tax Audit Reports for the Assessment year 2019-20 as specified in section 139 (1) of the Act to 31st March, 2020 in the Union Territory of Jammu and Kashmir and Union Territory of Ladakh. F. No. 225/306/2019-ITA- II Government of India Ministry of Finance Department of […]
It has been decided that henceforth, and till further orders, the Income Tax Appellate Tribunal, Mumbai benches, will hear only extremely urgent matters, such as, for example, stay petitions in deserving cases, preferably through web-based video conferencing call such as skype or WhatsApp video group call
CBDT has released Direct Tax Vivad Se Vishwas Rules 2020 vide Notification No. 18/2020-Income Tax Dated- 18/03/2020 and also released following forms- FORM-1- Form for filing declaration, Form-2 – Undertaking Under Sub-Section (5) Of Section 4 Of The Direct Tax Vivad Se Vishwas Act, 2020 (3 Of 2020), Form-3- Form For Certificate Under Sub-Section (1) Of […]
CBDT through Hon’ble FM can suggest to the Union Cabinet to declare that F.Y. 2019-20 will end on 30-04-2020 instead of 31-03-2020 and F.Y. 2020-21 will commence from 01-05-2020 instead of 01-04-2020. For this an Ordinance can be brought which will be welcomed by one and all in the country. Tax measures taken by countries across the world to tackle COVID-19 crisis is enclosed for ready reference and emulation by CBDT.
CBDT issues corrigendum to The Direct Tax Vivad Se Vishwas Rules 2020 and notifies that in Form-3, for ‘as per column (7) above within thirty days’, read ‘as per column (8) above within fifteen days’. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) CORRIGENDUM Notification No. 21/2020-Income Tax New Delhi, the 20th […]
Assessing Officer working in the Principal Chief Commissioner of Income-tax (international Taxation) Region having Jurisdiction in respect of the assessees for the purpose of the Income-tax Act, 1961, to exercise or perform all or any of the powers and functions conferred on, or, assigned to an Assessing Officer for the purpose of Chapter VIII of Finance Act, 2016 .
Central Government hereby makes the following amendments in the notification of the Government of India, Ministry of Finance, (Department of Revenue), (Central Board of Direct Taxes) number S.O.1537(E) dated 09th April, 2019
