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. 701-Income Tax As per sub-clauses (iiia) and (iiib) of section 2(24), read with section 17, of the Income-tax Act, 1961, any allowance, by whatever name called, given by the employer to the employee, is taxable as income in the hands of the employee. All allowances including Dearness Allowance, Additional Dearness Allowance, City Compensatory Allowance, House Rent Allowance, Meal Allowance
Notification No.S.O.993 – Income Tax In exercise of the powers conferred by clause (23A) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby notifies the Indian Institute of Industrial Engineering, Bombay, for the purpose of the said clause for assessment years 1994-95 to 1996-97 subject to the following conditions, namely
A number of instances have come to the notice of the Board where 100% EOUs had imported capital goods, raw materials and other permissible items under Notification No. 13/81-Cus. dated 9/2/81 but have failed to export any goods or have closed down after exporting a few consignments. A question has been raised as to the stage at which the customs
Notification No.S.O.2524 – Income Tax In exercise of the powers conferred by clause (22B) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies the United News of India as a news agency set up in India solely for collection and distribution of news, for the purposes of the said clause for the assessment years 1994-95, 1995-96 and 1996-97
Notification No.S.O.101(E) – Income Tax In exercise of the powers conferred by clause (23D) of section 10 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies J. M. Mutual Fund set up under a trust deed dated 1st September, 1994, by J. M. Financial and Investment Consultancy Services Limited and J. M. Share and Stock Brokers Limited, and registered with the Securities and
Notification No.S.O.112(E) – Income Tax In exercise of the powers conferred by clause (a) of the Explanation to section 115AD of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies the Foreign Institutional Investors specified in the table below for the purposes of the said section.
Notification No.S.O.465 – Income Tax In exercise of the powers conferred by clause (viii) of sub-section (1) of section 36 of the Income-tax Act, 1961 (43 of 1961), the Central Government has approved Messrs BOB Housing Finance Ltd., B-38A, Ahimsa Circle, Ashok Marg ‘C’ Scheme, Jaipur – 302 001, as a company for the purposes of the said clause for the assessment year 1995-96
Notification No.S.O.66(E) – Income Tax In exercise of the powers conferred by clause (iiia) of the proviso to section 193 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies, for the purposes of that clause, the difference payable between the redemption value and the bid prize of Zero Coupon Bonds of five years tenure of the Government of India, issued under the scheme for sale of Zero Coupon
Circular No. 699-Income tax Queries have been raised as to whether the requirement of deduction of income-tax at source under section 194-I of the Income-tax Act applies in case of payments by way of rent to the Government, statutory authorities referred to in section 10(20A) and local authorities whose income under the head ‘Income from house property’ or ‘Income from other sources’, is exempt from income-tax
Notification No.S.O.50(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 VIIth Series Issues 7-years 16.5% (Taxable) Secured Redeemable Non-cumulative Bonds bearing distinctive numbers from G-14671801 to G-14971800 of Rs. 1,000 each aggregating for an amount of Rs. 30 crores
