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.49(E) – Income Tax In exercise of the powers conferred by item (h) of sub-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 annum, tax-free Secured Redeemable Non-cumulative Bonds (VIIth Series Issue) bearing distinctive numbers G-3800001 to G-4800000 aggregating to an amount of Rupees 100 crores (Rupees one
Circular No. 698-Income Tax II. Rates for deduction of tax at source during the financial year from income other than Salaries 5. The rates for deduction of income-tax at source during the financial year 1991-92 from incomes other than Salaries have been specified in Part II of the First Schedule to the Act. These rates apply to income by way of interest (including interest on securities), dividends, insurance commission,
Notification No. S.O.933(E)-Income Tax In exercise of the powers conferred by item (h) of sub-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. (Tax-free) HUDCO Bonds (Series III) bearing distinctive numbers from 90000001 to 90152500, 91657501 to 92567500, 93017051 to 93497500 and from 93497501 to 94000000 at rupees 1,000
Notification No. S.O.934(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 specifies 14 per cent. (Taxable) payable half-yearly, HUDCO Bonds (Series III) bearing distinctive numbers from 90152501 to 91657500 and from 92567501 to 93017500 at the rate of Rs. 1,000 each aggregating to Rs. 195.50 lakhs
Notification No. 924(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 Shriram Mutual Fund set up under a trust deed dated 27th May, 1994, by Shriram Investments Limited, and registered with the Securities and Exchange Board of India under rule 9 of the Securities and Exchange Board of India Mutual Funds (Regulations)
Circular No. 696-income tax It has come to the notice of the Board that some employers are not correctly evaluating the perquisites, allowances or other profits in lieu of or in addition to any salary of wages (referred to as “salaries” hereinafter) paid to their employees for the purpose of deducting tax at source under section 192 of the Income-tax Act, 1961. Such defaulters are liable to penalty proceedings under sections 221 and 271C of the Act, and also liable to prosecution under Chapter XXII of the Act
Circular No. 697-Income tax Board had recently prescribed the form of challans with three counterfoils for payment of advance tax and self-assessment tax. Some problems have been reported in the implementation of the above decision. It has been reported that banks receiving payment of tax are retaining two counterfoils and returning only one foil to the taxpayer. As the taxpayer is expected to enclose proof of payment of advance tax and self-assessment tax along with the return of income
Notification No. S.O.880(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 specifies the 10th Series Issue, Five Years–14.5 per cent. (Taxable) Secured Redeemable Non-Convertible Telephone Bonds bearing distinctive numbers from 10750001 to 11750000 of Rs. 1,000 each aggregating to an amount of Rs. 100
Notification No. S.O.874(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 CRB Mutual Fund authorised by the Securities and Exchange Board of India and registered in accordance with the Securities and Exchange Board of India (Mutual Funds) Regulations, 1993, made under the Securities
Circular No. 695-Income tax The Board has had occasion to examine the procedure being followed for authorisation of remittances to non-residents. Under section 195(1) of the Income-tax Act, any person responsible for paying to a non-resident any sum chargeable to tax under the Act excepting interest on securities and income under the head “Salaries”
