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 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...
Income Tax : CBDT has approved the University of Hyderabad for scientific research under Section 45 of the Income-tax Act, 2025. The approval i...
Finance Ministry’s Notification 151/2025 grants income tax exemption to the Chennai Metropolitan Water Supply and Sewerage Board (CMWSSB), effective retrospectively from Assessment Year 2024-25.
CBDT Notification 150/2025 grants income tax exemption to the Jhansi Development Authority under Section 10(46A), effective from Assessment Year 2025-26.
A CBI Court in Jodhpur sentenced former Chief Commissioner of Income Tax P.K. Sharma and an ITO to 4 years jail and a fine for accepting a Rs. 15 lakh bribe.
The CBDT has extended the deadline for filing various tax audit reports for AY 2025-26 from September 30 to October 31, 2025, following representations regarding difficulties like natural calamities.
The Ministry of Finance grants income tax exemption to the High Court Legal Services Committee in Chandigarh on specific income, including grants and interest.
The Ministry of Finance grants income tax exemption to Rajasthan’s Real Estate Regulatory Authority for specific incomes under the Income-tax Act, 1961
CBDT allows waiver of interest where 87A rebate was initially granted but later disallowed via CPC rectification. Taxpayers must clear such 87A-related demands by 31.12.2025 to avail the relief.
Nagpur Chamber of Commerce requests a two-month extension for audit assessees’ income tax returns, citing delayed ITR forms, portal issues, and upcoming festivals.
The CBDT issued an order amending the scope of the e-Appeals Scheme 2023. It now covers appeals filed before October 1, 2020, against assessment orders with a disputed demand exceeding Rs.25 lakhs.
The Chamber of Tax Consultants requests a 15-day extension for non-audit ITR filings due on 15 Sept 2025, citing portal glitches and taxpayer hardships.
