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...
Central Government with respect to registration of persons, due diligence and maintenance of information, and the Central Board of Direct Taxes for matters relating to statement of reportable accounts, hereby make the following rules further to amend the Income-tax Rules, 1962, namely:-
The undersigned is directed to state that some posts of Members in the Central Board of Direct Taxes in the Department of Revenue in the pay scale of Rs. 80,000/- (Fixed) are likely to fall vacant till. 31.3.2017. The following categories of officers are eligible for appointment to these posts:
Notification No. 47/2016 No TDS deduction shall be made on payments of nature specified below, in case such payment is made by a person to a bank listed in the Second Schedule to Reserve Bank of India Act, 1934, excluding a foreign bank, or to any payment systems company authorised by RBI U/s. 4(2) of Payment and Settlement Systems Act, 2007,
Notification No. 46/2016-Income Tax- No TDS on payments of nature specified in clause (23DA) of section 10 of Income Tax Act received by any securitisation trust as defined in clause (d) of Explanation to section 115TC
Central Government, hereby notifies the ‘classes of persons’ for the purposes of section 56(2)(viib)(ii) as being the ‘person’ defined under sub-section (31) of section 2 of the said Act, being resident, who make any consideration exceeding the face value for issues of shares of a ‘startup’ company.
Explore the clarifications on the simplified procedure for Form 15G & 15H under section 197A of the Income-tax Act. Stay informed with Notification No. 9/2016 issued by the Government of India.
With a view to bring high value transactions within the tax net, it has been provided in sub- section (1 F) of section 206C of the Act that the seller who receives consideration for sale of a motor vehicle exceeding ten lakh rupees, shall collect one per cent of the sale consideration as tax from the buyer. Any person who obtains in any sale. the goods of the nature specified in sub-section (I D) or (IF) of section 206C is a buyer.
2. Nodal Officers have been appointed at the level of PAN service providers M/s NSDL eGov and M/s UTIITSL to facilitate field formations who have to establish PAN counters in ASK Centres.
Bulk PAN transfer screen has further been enhanced and facility of selection criteria based on ITR-7 filed by PAN holder has been provided for easy transfer of PANs of Trusts to Exemption charges.
A joint Conference of Principal Chief Commissioners/ Chief Commissioners, Principal Directors General/ Directors General, Pr. Commissioners (1985 batch and prior batches) and Pr. Directors (1985 batch and prior batches) (and equivalent) of CBDT and officers of CBEC to be inaugurated by Hon’ble Prime Minister of India on 16.6.2016 forenoon, is to be held on 16.6.2016 and 17.6.2016 (with the possibility of being extended to the forenoon of 18.6.2016).
