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. 157-Income Tax In exercise of the powers conferred by clause (b) of sub-section (3) of section 80E of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies the Housing Development Financial Corporation Ltd. (HDFC) as a financial institution for the purpose of section 80E of the said Act.
Notification No. 153-Income Tax In exercise of the powers conferred by sub-clause (viic) of clause (10C) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies the International Crops Research Institute for the Semi-Arid Tropics for the purposes of the said sub-clause in respect of assessment year 2002-2003 and subsequent assessment years.
Notification No. 154-Income Tax In exercise of the powers conferred by clause (v) of the Explanation to section 48 of the Income-tax Act, 1961 (43 of 1961), the Central Government, having regard to seventy-five per cent. of average rise in the Consumer Price Index for the financial year commencing on the 1st day of April, 2001
Notification No. 147-Income Tax In exercise of the powers conferred by sub-clause (h) Of Clause (iv) of sub-section (15) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies 8.55% Tax Free (9B Series) Konkan Railway Bonds bearing distinctive numbers from 1 to 10000) for an amount
Notification No. 146-Income Tax In exercise of the powers conferred by sub-clause (h) of clause (iv) of sub-section (15) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies 8.77% Tax Free (10B Series) Konkan Railway Bonds bearing distinctive numbers from 1 to 7000 for an amount
Notification No. 131-Income Tax It is notified for general information that enterprise/industrial undertaking, listed at para (3) below has been approved by the Central Government for the purpose of section 10(23b) of the Income-tax Act, 1961, read with rule 2E of the Income-tax Rules, 1962, for the assessment years 2001-2002
Notification No. 129-Income Tax In exercise of the powers conferred by clause (23) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies the “Petroleum Sports Control Board, New Delhi” for the purpose of the said clause for the assessment years 2002-2003 subject to the following conditions
Notification No. 124-Income Tax The percentage of land to be earmarked for commercial use shall not be more than 10 per cent of the allocable area. In case of an Industrial Model Town and Industrial Park, the minimum investment on infrastructure development shall not be less than 50 per cent of the total project cost. In the case of an Industrial Park which provides built up space for industrial use, the minimum expenditure on infrastructure
Notification No. 123-Income Tax In exercise of the powers conferred by sub-clause (ii) of clause (10AA) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government, having regard to the maximum amount receivable by its employees as cash equivalent of leave salary in respect of the period of earned leave at their credit
Notification No. 118-Income Tax In exercise of the powers conferred by clause (23) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies the India Polo Promotion Foundation, Mumbai, for the purpose of the said clause for the assessment years 1998-99 to 2000-01
