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...
Undersigned is directed to state that since the monetary limit of tax effect for filing of appeals to ITAT against the order of CIT(A) has been raised to Rs. 20 lakhs vide CBDT Circular No 3 of 2018 dated 11.7.2018, it is expedient that the cases are properly defended before the CIT(A), as the department will have no recourse to any appeal, against the Order of CIT(A).
CBDT has issued a directive in which it has stated that With respect to such quality assessment orders, the Pr.CIT shall ensure that they are properly marked as Quality orders and are duly represented before the CIT(A) by the Department.
CBDT has vide Office Order Nos. 26 of 2019 and 27 of 2019, dated 14th February 2019 extended the ad-hoc appointment of 241 IRS officers to the grade of Joint Commissioner of Income-tax No.A-32012/3/2017-Ad.VI Government of India Ministry of Finance Department of Revenue (Central Board of Direct Taxes) North Block, New Delhi. New Delhi, the […]
It has come to the notice of CBDT, through some media reports that Rs. 36 lakh have been recovered from a startup, namely, Travel Khana as part of recovery of outstanding demand on account of Angel Tax. It has been alleged that this was in violation of the CBDT instructions dated 24th December, 2018 pertaining to recovery of dues in Angel Tax cases.
As per the discussion held during Judicial Conference held on 04.01.2019, a committee is being constituted to examine the suggestions/issues on litigation management emerging out of the Conference. The composition or the Committee is as follows:
In Circular No.1/2019 dated 1st January, 2019 on the above-mentioned subject, the provisions of section 8OTTB were inadvertently not correctly explained in para 5.5.12 of the circular. The correct position of the admissibility of deduction under section 8OTTB is provided as under:-
Promotion of the 542 officers in the grade of Joint Commissioner of Income Tax in Level 12 vide Office Order 22 of 2019 Dated 6th February, 2019. F. No. A-32012/4/2017-Ad.VI Government of India Ministry of Finance Department of Revenue (Central Board of Direct Taxes) * * * * * New Delhi, dated the 6th February, […]
Monetary limits for filing/withdrawal of Wealth Tax appeals by the Department before ITAT, HCs and SLPs/appeals before SC through extending the scope of Circular 3 of 2018 -Measures for reducing litigation.
The undersigned is directed to refer to Circular No. 1/2019 dated 1st January, 2019 bearing file of even number on the above mentioned subject and to state that in para 5.5.12 on page 42 dealing with Section 8oTTB, the phrase in bracket i.e (not being time deposits) stands deleted.
THE FINANCE BILL, 2019 AS INTRODUCED IN LOK SABHA ON 1ST FEBRUARY, 2019 VIDE BILL No. 5 OF 2019 1. The object of this Bill is to continue the existing rates of income-tax for the financial year 2019-2020 and to provide certain relief to taxpayers and to make amendments in certain enactments. 2. Clause 2 […]
