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...
Instruction No. 5 dated 16-7-2007- The Board has also decided that cases where the question of law involved or raised in appeal is/are of a recurring nature to be decided by the Court, should be separately considered on merits without being hindered by the monetary limits. Subject to paragraphs 2 and 3 above, the Instruction No. 979, dated 27-3-2000 clarified subsequently by Instruction No. 985, dated 29-6-2000 and Instruction No. 2/2005, dated 24-10-2005, will continue to govern the decision for filing of departmental appeals.
The Central Board of Direct Taxes empowers the Director General of Income-tax (International Taxation or the concerned Directors of Income-tax (Transfer Pricing) to distribute the work amongst the Transfer Pricing Officers working under them while exercising their powers and performing their functions.
Notification No. 233 – Income Tax In exercise of the powers conferred by section 120 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following further amendment to the Notification of the Government of India, Ministry of Finance, (Department of Revenue), Central Board of Direct Taxes, number S.O. 888(E) dated the 17th September, 2001, namely
Notification No. 232 – Income Tax In exercise of the powers conferred by section 118 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following further amendment to the Notification of the Government of India, Ministry of Finance and Company Affairs (Department of Revenue), number SO. 279(E) dated the 12th March, 2003, namely
The approved organization shall maintain a separate statement of donations received and amounts applied for scientific research and a copy of such statement duly certified by the auditor shall accompany the report of audit referred to above.
The approved organization shall maintain a separate statement of donations received and amounts applied for scientific research and a copy of such statement duly certified by the auditor shall accompany the report of audit referred to above.
Notification No. 229 – Income Tax It is hereby notified for general information that the organization Matrivani Institute of Experimental Research and Education, Kolkata 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 (said Act), read with Rules 5C and 5E of the Income-tax Rules, 1962 (said Rules), with effect from 1.4.2004
Notification No. 228 – Income Tax It is hereby notified for general information that the organization Mudra Foundation for Communication, Research & Education, Ahmedabad 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) with effect from
It has also been brought to notice of the Board that in some cases, the address of transacting parties given in AIRs is not complete. Sub-para (f) of para 10 of above-mentioned instruction outlines the procedure to be followed in case the assessee is not traceable. It may be because of incomplete address or change in address. All efforts should be made to trace the assessee in accordance with the procedure outlined in said sub-para. However, it should be ensured that there is valid service of notice. Further if, because of time taken in tracing the assessee, no time is available for issue of notice under section 142(1) and for making the assessment up to 31-12-2007, notice may be issued under section 148 after 31-12-2007.
In partial modification of the Notifications issued by Central Board of Direct Taxes Department of Revenue Ministry of Finance Government of India.
