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. 615-Income tax Reference is invited to the Board’s Circular No. 579 dated 14-9-1990 regarding deduction of income-tax at source from the payment of interest on securities for the financial year 1990-91.
Circular : No. 618, dated 22-11-1991 The Finance (No. 2) Act, 1991 has inserted a new section 194EE in the Income-tax Act, 1961 with effect from the 1st October, 1991, which reads as follows
Circular No. 614-Income tax Reference is invited to the Board’s Circular No. 570, dated 27-7-1990 wherein the rates at which the deduction of income-tax was to be made during the financial year 1990-91, from payment of income by way of insurance commission under section 194D of the Income-tax Act, 1961 were circulated.
Circular No. 613-Income tax Reference is invited to Board’s Circular No. 539, dated 13-7-1989 on the above subject. According to the provisions of section 194C of the Income-tax Act, 1961, any person responsible for paying any sum to any resident contractor for carrying out any work (including supply of labour for carrying out any work)
Circular No. 612-Income tax Reference is invited to Board’s Circular No.568, dated 27-7-1990 wherein the rates of income-tax deduction during the financial year 1990-91 from the payment of income chargeable under the head “Salaries” under section 192 of the Income-tax Act,1961,etc.,were intimated. The present circular contains the rates of deduction of income-tax from the payment of ‘salaries’ during the financial year 1991-92
Circular No. 611- Income Tax In the speech while presenting the Union Budget for 1991-92 the Finance Minister had, inter alia, announced introduction of two schemes to attract larger inflow of foreign exchange. For this purpose, the Remittances of Foreign Exchange and Investment in Foreign Exchange Bonds (Immunities and Exemptions) Bill, 1991 was introduced in the Parliament during the 1991 just concluded Budget session. The Bill, as passed by both Houses of Parliament received the assent of the President on 18th September, 1991 and
Notification No.S.O.612(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 the ” 10 year 9 per cent. (tax-free) Secured Redeemable Non-Convertible Bonds (Series-I)”, issued by the Housing and Urban Development Corporation Limited, for the purpose of the said item
Circular No. 610-Income tax Consequent to the judgment of the Supreme Court in the case of Vijaya Bank Ltd. v. CIT [1991] 187 ITR 541, Circular No. 599, dated 24-4-1991 of the Central Board of Direct Taxes, New Delhi may be treated as withdrawn.
Circular No. 609-Income tax The second proviso to section 32(1)(ii) of the Income-tax Act, 1961, which disallows depreciation on foreign motor cars, is reproduced below
Circular No. 608-Income tax Circular No. 357 dated 26-3-1983 prescribing guidelines for valuation of land comprised in coffee plantation, was made applicable only to the Karnataka Charge.
