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...
ORDER NO. 202 OF 2011 The following officers in the grade of Commissioner/Director of Income Tax are hereby promoted to the grade of Chief Commissioner of income Tax (CCIT) in the Pay Scale of Rs. 67,000-79,000/- with effect from 01.01.2012 and actually from the date of assumption of charge of the post and until further orders:
Notification No. 61/2011 – Income Tax Whereas an Agreement between the Government of the Republic of India and Government of the Cayman Islands for the exchange of information relating to taxes was signed at Cayman Islands on the 21st day of March, 2011 And whereas the date of entry into force of the said Agreement is the 8th day of November, 2011, being the date of later of the notifications of completion of the procedures as required by the respective laws for entry into force of the said Agreement, in accordance with Article 12 of the said Agreement;
Notification No. 62/2011 – Income Tax Whereas a Protocol amending the Agreement between the Republic of India and the Swiss Confederation for the avoidance of double taxation with respect to taxes on income with Protocol, signed at New Delhi on the 2nd day of November, 1994, as amended by the supplementary Protocol signed at New Delhi on the 16th day of February, 2000, was signed at New Delhi on the 30th day of August, 2010;
Latest From Directorate of Systems ALERTS: Last date of submission of ITR-V for A.Y 2010-11 has been extended up to 31/12/2011 AOs are requested to immediately send ITR-Vs of A.Y. 10-11 & 11-12, if any, lying with them to CIT (CPC), Bangalore. AOs should not accept ITR-Vs from taxpayers.
It is informed that under the Income Tax Act, search and seizure is conducted on the basis of specific and credible information regarding tax evasion, and after conducting necessary verification. Information technology tools, such as CASS and ITDMS, have been developed and are being extensively utilized by the Income Tax department to unobtrusively select cases for scrutiny or verify information before taking intrusive action. In the current year, the number of search warrants executed has declined compared to last year.
NC Notification No. 199/2011 – Income Tax In exercise of the powers conferred by sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government, on the recommendations of the National Committee for Promotion of Social and Economic Welfare, hereby notifies the institutions approved by the said National Committee, mentioned in column (2) of the Table below, and approves the eligible projects or schemes specified to be carried on by the said institutions and the estimated cost thereof as mentioned in column (3) of the said Table, and also specifies in the column (4) of the Table the maximum amount of such cost which may be allowed as deduction under the said section 35AC for the period of approval, namely:-
Notification No.124/2011 – Income Tax Whereas by notification of the Government of India, in the Ministry of Finance (Department of Revenue) number S.O. 1111(E), dated the 8th August, 2005, issued under sub-section (1) read with clause (b) of the Explanation to section 35AC of the Income-tax Act, 1961 (43 of 1961), the Central Government had notified at serial number 2, “Comprehensive rehabilitation, medical & human resource development services for the blind and disabled” by Blind People’s Association, Jagdish Chowk, Surdas Marg, Vastrapur, Ahmedabad
It has been observed during the processing of vigilance complaints wherein Assessing Officers have claimed that the particular action/decisions were taken after discussion with and as per the directions of their controlling Range Head, though, no such written directions were found on the record. In a few cases, an office note was found to be recorded stating, that issues involved in the order were discussed with the Range Head but the office note was not found to have been ratified by the controlling Range Head.
Notification No.G.S.R. 868/2011 – Income Tax In exercise of the powers conferred by sub-section (3) of section 1 of the Government Savings Certificates Act, 1959 (46 of 1959), the Central Government hereby specifies that the National Savings Certificates-IX Issue shall be the class of Savings Certificates to which the said Act applies
Notification No. 60/2011 – Income Tax Section 115JC which provided for special provisions for payment of “Alternate Minimum Tax” by certain Limited Liability Partnerships (LLP), was introduced by the Finance Act, 2011. As per section 115JC(3) every LLP to which section 115JC applies is required to obtain a report from an accountant in such form as may be prescribed. Accordingly, the Central Board of Direct Taxes, has through this notification, notified Income-tax (9th Amendment) Rules, 2011. The said Amendment Rules have inserted Rule 40BA after Rule 40B which provides that the report of an accountant which is required to be furnished by the assessee under section 115JC(3) shall be in Form 29C. Further, in Appendix II of the said rules, Form 29C has been inserted after Form 29B. These Rules will come into force on 1st April, 2012.
