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...
Letter [F.No. DIT(S)-I/AIS/NODAL/12-13] Transfer of e-filed returns to old/orphan/defunct Jurisdiction may lead to problem in timely processing of returns. Therefore the above procedure was devised to address the problem of processing of the e-filed returns received through the website in which PANs were to be migrated to AOs based on the correct AO codes of the PAN of the e-filer.
LETTER [F.NO. DIT(S)-I/AIS/NODAL/12-13] As per new procedure for Individual PAN transfer requests, transferor/source officers (AO/Range/CIT) have to take a decision on system either to allow and confirm the request, originating from transfree/destination Assessing Officers or to reject the request.
Circular no. 8/2012-Income Tax The present Circular contains the rates of deduction of income-tax from the payment of income chargeable under the head Salaries during the financial year 2012-13 and explains certain related provisions of the Income-tax Act, 1961 (hereinafter the Act) and Income-tax Rules, 1962 (hereinafter the Rules). The relevant Acts, Rules, Forms and Notifications are available at the website of the Income Tax Department- www.incometaxindia.gov.in.
Notification No. 42/2012-Income Tax In the Income-tax Rules, 1962, after rule 112E, the following rule shall be inserted, namely:- Class or Classes of cases in which the Assessing Officer shall not be required to issue notice for assessment or reassessment of the total income for six assessment years immediately preceding the assessment year.
Vide Order No. 186 dated 04.10.2012 the CBDT has ordered the transfers & postings of several officers in the grade of Commissioners/ Directors of Income-tax with immediate effect.
The Board has decided that the Income-tax offices all over India shall make special arrangements by opening of receipt counters on 29th & 30th September, 2012 being Saturday & Sunday respectively for the convenience of taxpayers.
Notification No. 41/2012-Income Tax It is hereby notified for general information that the organization National Law School of India University, Bangalore has been approved by the Central Government for the purpose of clause (iii) of sub-section (1) of section 35 of the Income-tax Act, 1961 (said Act), read with Rules 5C and 5E of the Income-tax Rules, 1962 (said Rules), from Assessment year 2011-12 onwards in the category of “University, College or Other Institution”, engaged in research in social science research subject to the following conditions, namely
Deduction/Collection of direct tax at source plays one of the most crucial roles in mobilizing direct tax revenue. It is imperative to note that in the last year about 36% of total Direct Tax collection was made through TDS/TCS only. The TDS wing of the department registered an annual growth of 24%, despite the downturn […]
Non-receipt of quarterly reports as per the CBDT Instruction No. 7 of 2011 The CCIT/CIT shall ensure due adherence to this instruction. In order to facilitate monitoring, a register shall be maintained in the office of CIT as per Annexure-IV to this Instruction.
As you are aware, the CBDT has laid special emphasis in the CAP 2012-13 for improving the quality of assessments. In this regard, a strategy has been mentioned at Annexure-II (pgs. 38-43) of CAP Document. 2. The then Member (IT) had asked the Chief-Commissioners of Income-tax (‘CCsIT’) to send list of top 100 quality assessments in respective charges. This direction of Member was not complied with by many of CCsIT which has been viewed seriously by the Board. It is expected from the field-formation that in future the directions of the Board will not be ignored.
