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...
Income Tax The industrial furnaces and industrial oil burning equipment are not covered by Part IV of the First Schedule to the Finance Act, 1964.
Notification No. S.O.237(E)-Income Tax In exercise of the powers conferred by clause (iii) of sub-section (2) of section 194K of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies the following scheme of the Canbank Mutual Fund as the scheme having regard to the plan of payment of income to the unitholders for the purpose of the said clause
Notification No. S.O.229(E)-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 amendments in the notification of the Government of India, Central Board of Direct Taxes No. S. O. 359(E), dated 30th March, 1988
Notification No. S.O.204(E)-Income Tax In exercise of the powers conferred by clause (ii) of sub-section (1) of section 80L of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies the 16.25 per cent. (Taxable) Secured Redeemable Non-convertible Bonds bearing distinctive numbers from C-1160001 to C-2500000 of Rs. 1,000 each aggregating to an amount of rupees one hundred thirty-four crores only
Notification No. S.O.205(E)-Income Tax In exercise of the powers conferred by item (h) of sub-clause (iv) of clause (iv) of clause (15) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies 10.5 per cent. per annum (Tax-free) Secured Redeemable Non-convertible NHPC Bonds (I-Series) bearing distinctive numbers 601 to 91514600 of Rs. 1,000 each aggregating to an amount
Notification No. G.S.R.117(E)-Income Tax Whereas the Central Government is satisfied that it is necessary and expedient so to do, in the public interest to make modification in regard to the status in which persons, specified in sub-section (2) of section 293A of the Income-tax Act, 1961 (43 of 1961), are to be assessed on their income from the business consisting of the prospecting for or extraction or production of mineral oil.
Notification No. S.O.164(E)-Income Tax In exercise of the powers conferred by clause (a) of sub-section (2) of section 119 of the Income-tax Act, 1961 (43 of 1961), read with rule 111B of the Income-tax Rules, 1962, the Central Government hereby specifies that the time limit of 3 years for sale of attached immovable property under rule 68B of Schedule II to the Income-tax Act, 1961 (43 of 1961), is to be extended to 4 years
Circular No. 737-Income Tax Sections 44AD and 44AE were inserted in the Income-tax Act, 1961, by the Finance Act, 1994, w.e.f. 1st April, 1994. Section 44AD provides for a method of estimating income from the business of civil construction or supply of labour for civil construction work, where the gross receipts from the business do not exceed Rs. 40 lakhs.
Notification No. S.O.630-Income Tax It is notified for general information that the SBI Home Finance Ltd., Nagaland House, 11 and 13, Shakespeare Sarani, Calcutta-700 071, have been approved by the Central Government as a Housing Finance Company for the purposes of section 36(1)(viii) of the Income-tax Act, 1961, for the assessment years 1996-97 to 1998-99.
Notification No. S.O.631-Income Tax It is notified for general information that the Cent Bank Home Finance Ltd., Flat No. 1, Plot No. 51, Arera Hills, Hoshangabad Road, Bhopal-462 011, have been approved by the Central Government as a Housing Finance Company for the purposes of section 36(1)(viii) of the Income-tax Act, 1961, for the assessment years 1995-96 to 1997-98.
