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. 607-Income tax Reference is invited to Board’s Circular No. 605, dated 12-6-1991, conveying the Board’s decision that in view of the shortage of the new Form No. 16B, the Assessing Officers may accept the TDS certificates in the old Form No. 16 also in respect of deductions of tax at source under sections 194A, 194B, 194BB, 194C, 194E, 195 and 196A of the Income-tax Act, 1961, for the assessment year 1991-92.
Circular No. 606-Income tax Central Board of Direct Taxes have received queries from the assessees, who are to file their returns of income for the assessment year 1991-92, regarding computation of surcharge on income-tax where the total income of a person exceeds Rs. 75,000. The queries are as to whether surcharge is to be computed on the amount of income-tax before or after allowing tax
Circular No. 605-Income tax Reference is invited to Board’s Circular No. 597, dated 27-3-1991 containing detailed instructions on the use of new Form Nos. 16, 16A and 16B in lieu of the unified Form No. 16 which was in force from 1-4-1989 to 28-2-1991.
Circular No. 604-Income tax By Circular No. 590, dated 30-1-1991 (see Clarification 1), Indian nationals normally resident in Kuwait who were forced to return to India because of the Iraqi invasion, were made eligible for exemption under section 10(4)(ii ) of the Income-tax Act in respect of their NRE/FCNR accounts maintained by them up to 31st March, 1991.
Circular No. 603-Income tax In supersession of Circular No. 376, dated January 6,1984, Circular No. 445, dated December 31, 1985, Circular No. 481, dated February 20, 1987 and all other instructions on the subject, the Board have decided that the value of the perquisite arising by way of payment or reimbursement by an employer of expenditure on medical treatment
Circular No. 602-Income tax Reference is invited to Board’s order under section 9(2)(a) of the Gift-tax Act, 1958 (F. No. 143/6/91-TPL dated 30-5-1991) whereby the due date for filing of return of gifts for the assessment year 1990-91 has been extended from 30-6-1990 to 30-6-1991 in the case of those assessees who had made any gift or gifts during the period 20th March, 1990 to 31st March, 1990.
Circular No. 601-Income tax Reference is invited to Circular No. 581 dated 28-9-1990 issued by the Board in respect of prima facie adjustments under section 143(1)(a) and the scope of section 154. It was clarified in the said circular that where an evidence in support of a deduction claimed under section 43B, or in support of certain other exemptions and deductions, is required to be attached along with the return of income, but is not so attached, the said deduction/exemption shall be disallowed under section 143(1)(a)
Circular No. 600-Income tax The Board has received representations regarding problems faced by tea exporters in calculating the claim of deduction under section 80HHC of the Income-tax Act.
Circular No. 599-Income tax Clarifications on the following issues have been sought by banks from the Central Board of Direct Taxes Whether the securities held by the banks constitute their stock-in-trade or investment, and consequently whether the loss claimed by the banks on the valuation of their securities should be allowed as a deduction in computing their taxable profits ?
Notification No.S.O.254(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 (13 of 1961), the Central Government hereby specifies the ” 10-year 9 per cent. (tax-free) HUDCO Scavenger Liberation Bonds (Serious-I) ” issued by the Housing and Urban Development Corporation for the purpose of the said item
