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...
Circular No. 751-Income Tax This scheme shall be called the Securities Lending Scheme, 1997
Circular No. 750-Income Tax Circular No. 748, dated 19th December, 1996 (Clarification 1) laid down guidelines in respect of approved investments for purposes of section 54EA and section 54EB of the Income-tax Act. Subsequent to the issue of those guidelines, the Income-tax (Second Amendment) Ordinance, 1996 has been promulgated on 31-12-1996. By virtue of section 2 of the Ordinance, shares
Circular No. 749-Income Tax Under the provisions of section 203, the Drawing and Disbursing Officers (DDOs) of various Central Government Departments are deducting tax from payments made to its employees, contractors, etc. The taxes so deducted are being paid into Government account by book adjustment.
Circular No. 748-Income Tax Sections 54EA and 54EB of the Income-tax Act, 1961 have been introduced by the Finance (No. 2) Act, 1996 with effect from 1-10-1996 will consequently apply in relation to transfer of long-term capital assets on or after this date. Capital gains tax will be exempted in cases where net consideration (section 54EA) or the capital gains (section 54EB) is invested in certain approved instruments.
Circular No. 747-Income Tax Reference is invited to Circular No. 724, dated 29th September, 1995 wherein the rates of deduction of income-tax from the payment of income under the head “Salaries” under section 192 of the Income-tax Act, 1961, during the financial year 1995-96, were intimated. The present Circular contains the rates of deduction of income-tax from the payment of income chargeable under the head “Salaries” during the financial year 1996-97 and explains certain related provisions of the Income-tax Act.
Notification No. S.O.714(E)-Income Tax In exercise of the powers conferred by sub-section (4) of section 139A of the Income-tax Act, 1961 (43 of 1961), the Board hereby specify the last date for the filing applications for allotment of Permanent Account Number under the new series as the 30th day of November, 1996, for assessment year 1996-97 in respect of every person who is required to file such an application.
Circular No. 746-Income Tax Section 80Q inserted by the Finance (No. 2) Act, 1991, with effect from 1-4-1992 provides that where in the case of an assessee the gross total income of the previous year relevant to the assessment year commencing on the 1st day of April, 1992 or to any one of the four assessment years next following that assessment year
Circular No. 745-Income Tax Representations have been received for grant of exemption from the requirement of deduction of income-tax at source under section 193 of the Income-tax Act, on the payment of income by way of interest on securities to Ramakrishna Math and Ramakrishna Mission whose income is exempt under clause (iv) of section 10(23C) of the Income-tax Act, 1961.
Notification No. S.O.426(E)-Income Tax In exercise of the powers conferred by sub-section (4) of section 139A of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following amendment in the notification of the Government of India, Ministry of Finance, Department of Revenue bearing S. O. No. 379(E), dated 30th May, 1996
Notification No. S.O.411(E)-Income Tax In the notification of the Government of India, Ministry of Finance, (Department of Revenue) No. S. O. 193(E), dated 14th March, 1996, published in the Gazette of India, Extraordinary, Part II, section 3, sub-section (ii), dated 14th March, 1996:—- This notification contains Corrigendum to Income-tax Act, 1961 carried out on 6th June, 1996 not reproduced here as it is already contained in the body of the act itself
