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...
Income Tax Department Issues Instructions for Assessing Officers after Adverse Observations of Hon. Allahabad High Court in in Civil Misc. Writ Petition (Tax) No. 723 of 2022 in the case of S.R. Cold Storage Vs. Union of India and others. OFFICE OF THE PRINCIPAL CHIEF COMMISSIONER OF INCOME-TAX UP (WEST) & UTTARAKHAND REGION AAYAKAR BHAWAN, […]
CBDT notifies sovereign wealth fund, namely, Qatar Holding LLC vide Notification No. 93/2022-Income Tax | Dated: 5th August, 2022. MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) New Delhi Notification No. 93/2022-Income Tax | Dated: 5th August, 2022 S.O. 3707(E).—In exercise of powers conferred by sub-clause (vi) of clause (b) of the Explanation […]
CBDT specifies conditions for exemption to money received from employer or other person in Covid cases by family of deceased ide Notification No. 92/2022-Income Tax | Dated: 5th August, 2022. Clause (XIII) of the first proviso to clause (x) of sub-section (2) of section 56 of the Income-tax Act, 1961 provides that where any sum […]
Clause (XII) of the first proviso of clause (x) of sub-section (2) of section 56 of the Income-tax Act, 1961 provides that any sum of money received by an individual, from any person, in respect of any expenditure actually incurred by him on his medical treatment or treatment of any member of his family in […]
CBDT specifies Document to be submitted by employee to claim exemption on sum received for COVID-19 treatment vide Notification No. 90/2022-Income Tax, Dated: 05.08.2022 Ministry of Finance (Department of Revenue) (Central Board of Direct Taxes) New Delhi Notification No. 90/2022-Income Tax | Dated: 5th August, 2022 S.O. 3703(E).—In exercise of the powers conferred by sub-clause […]
Office Order No. 166 of 2022 122 officers are, hereby, promoted to the grade of Commissioner of Income Tax (CIT) for the panel year 2022
CBDT notifies ‘Bullion Depository Receipt with underlying bullion’ for section 47(viiab)(d) of Income Tax Act, 1961 vide Notification No. 89/2022- Income Tax Dated: 3rd August, 2022 MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES) NOTIFICATION New Delhi Notification No. 89/2022- Income Tax | Dated: 3rd August, 2022 S.O. 3652 (E).—In exercise of […]
Standard Operating Procedure (SOP) for Assessment Unit (AU), Verification Unit (VU), Technical Unit (TU) and Review Unit (RU) under the Faceless Assessment provisions of Section 144B of the Income-tax Act. National Faceless Assessment Centre, Delhi NaFAC/Delhi/CIT-1/2022-23/112/92 Dated: 03/08/2022 To, The Pr. Chief Commissioner of Income-tax (CCA), (All regions) Madam/Sir, Sub: Standard Operating Procedure (SOP) for […]
CBDT notifies Telangana State Pollution Control Board under Section 10(46) of income Tax Act, 1961 vide Notification No. 88/2022-Income-Tax | Dated: 2nd August, 2022. MINISTRY OF FINANCE Department of Revenue (CENTRAL BOARD OF DIRECT TAXES) New Delhi Notification No. 88/2022-Income Tax | Dated: 2nd August, 2022 S.O. 3616(E).—In exercise of the powers conferred by clause […]
The surge of filing ITRs peaked on 31st July, 2022 (due date for salaried taxpayers and other non-tax audit cases) with over 72.42 lakh ITRs being filed on a single day i.e on 31st July,2022.
