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. S.O.379(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 specifies that every person who is assessed or liable to be assessed by the Assessing Officer falling under the control of the income-tax authorities mentioned in the Table below
Notification No. S.O.1471-Income Tax It is notified for general information that M/s. Power Finance Corporation Ltd., New Delhi, have been approved by the Central Government as company for the purposes of section 36(1)(viii) of the Income-tax Act, 1961, for the assessment years 1996-97 and 1998-99.
Circular No. 744-Income Tax Board’s Circular No. 719 [F. No. 275/206/95-IT(B)], dated 22-8-1995 states that where the head office or the branch office is already filing the returns under section 206, no other Assessing Officer shall require the assessee to file such return with him.
Circular No. 743-Income Tax Under sections 54, 54B, 54D, 54F and 54G of the Income-tax Act, 1961, capital gain is not chargeable to tax if the amount of capital gain or net consideration has been utilised for specified purposes by the assessee within the stipulated period laid down in the relevant section. These provisions also provide for the deposit in specified Banks, etc.
Notification No. S.O.323(E)-Income Tax In exercise of the powers conferred by sub-section (1) of section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes, hereby makes the following partial modification in the notification bearing S. O. No. 644(E), dated 19th July, 1995, issued by the Ministry of Finance (Department of Revenue) of the Government of India
Circular No. 742-Income Tax A number of representations have been received from foreign telecasting companies regarding their taxability and the extent of income that could be said to accrue or arise to them from their operations in India.
Circular No. 741-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 in case of provident funds established under a scheme framed under the Employees’ Provident Funds and Miscellaneous Provisions Act, 1952
Circular : No. 740 Taxability of interest remitted by branches of banks to the head office situated abroad, under the Foreign Currency Packing Credit Scheme of Reserve Bank of India 1. The Reserve Bank of India has introduced a Foreign Currency Packing Credit Scheme (FCPCS) for Indian exporters. Under this scheme, the Authorised Dealers in India can arrange for lines of credit from abroad for providing preshipment credit
Notification No. S.O.249(E)-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 to leave salary in respect of the period of earned leave at their credit at the time of their retirement whether on superannuation or otherwise
Circular No.739-Income Tax The Board have considered the representations. Since the amended provisions of section 40(b) have been introduced only with effect from the assessment year 1993-94 and these may not have been understood correctly the Board are of the view that liberal approach may be taken for the initial years. It has been decided that for the assessment years 1993-94 to 1996-97 deduction for remuneration to a working partner may be allowed on the basis of the clauses of the type mentioned at 1(i) above.
