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. 709-Income Tax Board’s Circular No. 697, dated 16-12-1994 states that when the challan forms with three counterfoils are used, the taxpayer may enclose with his return of income a photocopy of the foil No. 3 in compliance with the provisions of section 139(9) of the Income-tax Act, 1961
Circular No. 708-Income Tax Reference is invited to the Board’s Circular No. 644, dated 15-3-1993 (see Sl. No. 371) wherein it was clarified that the expenditure on provision of food or beverages by an employer to the low-paid employees will not be treated as entertainment expenditure within the meaning of the Explanation under section 37(2) of the Income-tax Act, 1961 even if the facility is provided in places other than the place of work provided the same is provided during the working hours and the expenditure is genuine
Notification No.S.O.636(E) – Income Tax In exercise of the powers conferred by section 295 read with section 269UC of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely
Notification No.S.O.635(E) – Income Tax In exercise of the powers conferred by sub-clause (b) of clause (v) of the sub-section (15) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies the accounts mentioned below, with effect from the first day of April, 1995, as the accounts for the purpose of the said sub-clause
Circular No. 707-Income Tax References have been received by the Board in cases where non-residents are deputed to work in India and the taxes are borne by the employers. In certain cases, an employee to whom refunds are due has already left India and has no bank account here by the time the assessment orders are passed. A question has been raised whether in such cases, the refund can be issued to the employer as the tax has been borne by it
Notification No.S.O.614(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 XI Series Issue 13.5% (taxable) Secured Redeemable Non-Convertible Bonds bearing distinctive numbers from 1 to 6700000 of Rs. 1000 each aggregating for an amount of Rs. 670 crores (rupees six hundred seventy
Notification No.S.O.610(E) – Income Tax In exercise of the powers conferred by clause (c) of Explanation to clause (23F) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies all articles and things (including computer software) other than the articles or things mentioned in the Eleventh Schedule to the Income-tax Act, 1961 (43 of 1961), for the purposes of the said clause (c).
Circular No. 706-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, includes any profits and gains derived from a business carried on in
Circular No. 705-Income Tax Section 80RRA of the Income-tax Act, 1961 provides, inter alia, for deduction from the gross total income, in respect of remuneration received in foreign currency by a technician for services rendered outside India. The deduction is at the rate of 50 per cent of the remuneration or 75 per cent of the remuneration as is brought into India, whichever is higher. The terms and conditions of services outside India of such technician are to be approved for the purposes of claiming the deduction
Notification No.S.O.530(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 7-years 13 per cent. (taxable) Secured Redeemable Non-Convertible J-Series Bonds bearing distinctive numbers 101000001 to 101500000 of Rs. 1000 each aggregating an amount of Rs. 50 crores (rupees fifty crores
