Income Tax News

No Change in MSME Payment Compliance: Government Defends Section 43B(h) in Parliament

28 July 2026 at 09:37

The Finance Ministry has clarified in Rajya Sabha that Section 43B(h) links tax deduction claims to timely payments made to micro and small enterprises, aiming to improve MSME cash flow and working capital availability.

Posted in Income Tax | 1 comments | 4164 Views

CBDT Extends Tax Exemption Benefits to Maharashtra Fees Regulating Authority Under Section 10(46)

28 July 2026 at 09:29

CBDT has notified Maharashtra's Fees Regulating Authority under Section 10(46), exempting specified income including processing fees, government grants, and interest income for AY 2022-23 to AY 2026-27, subject to prescribed conditions.

Posted in Income Tax | 1 comments | 507 Views

CBDT Notifies ITR-BN Under Income Tax Rules 2026 for Block Assessment Cases

27 July 2026 at 09:29

CBDT has notified ITR-BN through the Income Tax (Third Amendment) Rules, 2026 for block assessment cases arising from search and requisition proceedings under the Income Tax Act, 2025. Know the key details.

Posted in Income Tax | 1 comments | 12900 Views

FM Sitharaman Calls for Greater Tax Certainty and Reduced Litigation at 167th Income Tax Day Celebration

25 July 2026 at 09:21

Finance Minister Nirmala Sitharaman outlined the 5Rs of Responsive Tax Governance at the 167th Income Tax Day celebrations, emphasizing tax certainty, reduced litigation, taxpayer-centric reforms, and the transformative impact of the Income-tax Act, 2025.

Posted in Income Tax | 1 comments | 1608 Views

Centre Notifies Additional PMLA Special Courts in Gujarat

24 July 2026 at 09:34

The Central Government has amended the PMLA notification to designate additional Special Courts in Gujarat, including CBI Special Courts in Ahmedabad and the Principal District Judge, Surat.

Posted in Income Tax | 1 comments | 1890 Views

CBDT Grants Section 10(46) Exemption to District Legal Services Authority, Jind

23 July 2026 at 09:23

CBDT Notification No. 92/2026 grants Section 10(46) income-tax exemption to District Legal Services Authority (DLSA), Jind on specified income for FY 2022-23 to FY 2025-26, subject to prescribed conditions.

Posted in Income Tax | 1 comments | 2130 Views

CBDT Revises 'Specified Fund' Definition Under Income Tax Act, 2025

22 July 2026 at 08:00

The Central Board of Direct Taxes (CBDT) has notified the Income-tax (Second Amendment) Rules, 2026, introducing an important amendment to the definition of "specified fund" under the Income-tax Rules, 2026.The amendment has been issued through Notif

Posted in Income Tax | 1 comments | 3267 Views

No Proposal to Scrap LTCG Tax for Retail Investors, Govt Clarifies in Lok Sabha

22 July 2026 at 07:40

The Government has clarified in Lok Sabha that there is currently no proposal to scrap the 12.5% Long-Term Capital Gains (LTCG) tax on equity investments for domestic investors.

Posted in Income Tax | 1 comments | 2355 Views

CBDT Enables Foreign Assets Reporting in AIS: Taxpayers Can Now View CRS/FATCA Data Online

21 July 2026 at 09:48

CBDT has enabled display of foreign asset and income information received under CRS/FATCA in AIS. Taxpayers can now view overseas account and investment data on the Income Tax portal.

Posted in Income Tax | 1 comments | 2856 Views

CBDT Notifies NaBFID 10-Year Zero Coupon Bond Under Income Tax Act, 2025

20 July 2026 at 09:27

CBDT has notified NaBFID's Ten Year Zero Coupon Bond as a Zero Coupon Bond under Section 2(112) of the Income-tax Act, 2025. Check key features, tenure, issue timeline and tax implications.

Posted in Income Tax | 1 comments | 10518 Views