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...
The Institution will apply its income, or accumulate for application, wholly and exclusively to the objects for which it is established and in a case where more than fifteen per cent of its income is accumulated on or after the 1st day of April 2002 the period of the accumulation of the amount exceeding fifteen per cent of its income shall in no case exceed five years.
CIRCULAR NO. 3/2007-Income Tax Vide Income-tax (4th Amendment) Rules, 2007 [S.O. No. 762(E) dated 14th May, 2007], the Central Board of Direct Taxes amended the Income-tax Rules, 1962 substituting rule 12 by a new rule 12 and notifying new return forms for assessment year 2007-08. Sub-rule (3) of the new rule 12, inter-alia, provides that a firm required to furnish the return of income/ fringe benefits in Form ITR-5 and to whom provisions of section 44AB are applicable, or a company required to furnish the return of
Notification No.179 – Income Tax It is hereby notified for general information that the organization Nimbkar Agricultural Research Institute (NARI), Phaltan, Maharashtra, 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, read with Rules 5C and 5D of the Income-tax Rules, 1962 with effect from 1-4-2006 in the category of
Notification No. 178 – Income Tax It is hereby notified for general information that the organization Central Power Research Institute, Bangalore, 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, read with Rules 5C and 5D of the Income tax Rules, 1962 with effect from 1-4-2005 in the category of ‘other Institution’ partly engaged in
Notification No.177 – Income Tax It is hereby notified for general information that the organization Vasantdada Sugar Institute, Pune, 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 5D of the Income-tax Rules, 1962 (said Rules), with effect from 1-4-2003 in the category of ‘other Institution’, partly
Notification No. 176 – Income Tax In the Notification of the Government of India, Ministry of Finance (Department of Revenue) number S.O. 489(E), dated 29th March, 2007 published in the Gazette of India, Extraordinary, Part-II, Section 3, Sub-section (ii ), dated the 29th March, 2007, in last paragraph, for ‘Rs.8.11 lakhs’ read ‘Rs.8.11 crore
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 further amends theNotification of the Government of India Ministry of Finance (Department of Revenue) number S.O.1013(E) dated the 5th July 2006
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 further amends theNotification of the Government of India Ministry of Finance (Department of Revenue) number S.O. 1011 (E) dated the 5th July 2006.
Circular No. 2 of 2007-Income Tax The provisions of section 203 of the Income-tax Act, 1961 lay down that every person responsible for deduction of tax at source shall furnish a certificate of deduction of tax at source to the deductee specifying therein the amount of the tax deducted and the rate at which the tax has been deducted and other particulars prescribed under rule 31 of the Income-tax Rules
The above notification is liable to be rescinded by the Central Government, if it is subsequently found that the activities of the Institution are not genuine or if they are not carried out in accordance with all or any of the conditions subject to which it was notified.
