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...
Notification No. 111-Income Tax In exercise of the powers conferred by section 295 read with section 285BA of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962 namely :— 1. (1) These rules may be called the Income-tax (Eleventh Amendment) Rules, 2008.
Notification No. 110-Income Tax In exercise of the powers conferred by sub-section (1) of section 269B of the Income-tax Act, 1961 (43 of 1961), the Central Government, in supersession of all the earlier notifications on the subject, except as respects things done or omitted to be done under those notifications, hereby authorizes every Joint Commissioner of Income-tax as defined in sub-section (28C) of section 2
Circular No. 11/2008-Income Tax Definition of ‘Charitable purpose’ under section 2(15) of the Income tax Act, 1961 – reg.Section 2(15) of the Income Tax Act, 1961 (‘Act’) defines “charitable purpose” to include the following:- (i) Relief of the poor (ii) Education (iii) Medical relief, and (iv) the advancement of any other object of general public utility.
NOTIFICATION NO. 107/2008, DATED 11-12-2008 An application for approval under clause (iia) of sub-section (1) of section 35 by a company shall be made in duplicate in Form No. 3CF-III, to the Commissioner of Income-tax having jurisdiction over the applicant, at any time during the financial year immediately preceding the assessment year from which the approval is sought.
INSTRUCTION NO. 17/2008, DATED 26-11-2008 In a recent review of assessment of Banks carried out by C&AG, it has been observed that white computing the income of banks under the head ‘Profit and Gains of Business & Profession’, deductions of large amounts under different sections are being allowed by the Assessing Officers without proper verification, leading to substantial loss of revenue. It is, therefore, necessary that assessments in the cases of banks are completed with due care and after proper verification. In particular, deductions under the provisions referred to below should be allowed only after a thorough examination of the claim on facts and on law as per the provisions of the I.T. Act., 1961.
Circular No. 10 of 2008-Income Tax Representations have been received from various quarters regarding problems being faced by the seafood exporters mainly on account of provisions of Section 40A (3) of the Income-tax Act, 1961.
Notification No. 106-Income Tax In exercise of the powers conferred by clause (iii) of sub section (4) of section 80-IA of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby makes the following amendments to the Industrial Park Scheme, 2008, namely :— In the Industrial Park Scheme, 2008, in FORM IPS – I,—
INSTRUCTION No. 16/2008 Under the revised procedure, inspections will involve an annual comprehensive inspection of the concerned office. The Inspecting Officer will examine and comment on the overall functioning of the office in the light of various Government Instructions in general and CBDT Instructions in particular. However, it will not be necessary to give comments on select assessment orders as part of inspection, as this will be done during Review of the assessments, instructions in respect of which are being issued separately.
INSTRUCTION No. 15/2008 Review will henceforth form an ongoing function of the supervisory officer for monitoring the quality of assessment work being done during the year by Assessing Officers under their supervisory control. The basic purpose of Reviews will remain unchanged viz. to ensure that all issues arising for consideration in the relevant assessment have been considered, the evidence required to examine these has been collected, rival arguments are analysed in the assessment order and a fair and balanced finding recorded.
It is hereby notified for general information that the organization M/s St. Stephen’s Hospital Society, (Administration of the Synodical Board of Health Services – CNI) Tis Hazari, Delhi has been approved by the Central Government for the purpose of clause (ii ) of sub-section (1) of section 35 of the Income-tax Act, 1961
