In a massive crackdown against fraudulent claims of deductions and exemptions, the income tax department on Monday raided, in a coordinated manner, 150 premises across various states of entities facilitating such deductions, especially against donations to political parties and charitable trusts.
CBDT issued notification no. 74 to 113/2025 all dated 11.07.2025 to extend the exemption u/s 10(23FE)(b)(vi) from 31st March, 2025 till 31st March, 2030.
Investigations uncover organised rackets operated by certain ITR preparers and intermediaries filing returns, claiming fictitious deductions and exemptions
CBDT issued notification no. 72/2025 dated 07.07.2025 to provide exemption u/s 10(46A)(b) to the “Rajasthan Housing Board”, a board constituted under the Rajasthan Housing Board Act, 1970 (Act No. 4 of 1970).
India’s retail investors are stumbling into tax traps—many learning the hard way that profits under ₹12 lakh don’t guarantee tax exemption. Sujit Bangar, founder of TaxBuddy.com, says it’s not the income size but its classification that triggers the taxman.
The government on Thursday said it has approved as many as 187 startups for income tax exemption.
The Central Government notifies ‘District Legal Service Authority’ as specified in the Schedule to this notification, constituted by Government of Haryana for every District in the State of Haryana in exercise of powers conferred by sub-section (1) of section 9 of the Legal Services Authorities Act, 1987 (Central Act No. 39 of 1987) as a ‘class of body’ for the purpose of exemption u/s 10(46) of the Income Tax 1961 for specified income arising to that Board namely:
The Central Government notifies ‘Real Estate Regulatory Authority, New Delhi (PAN AAALR1691Q)’ an Authority constituted under sub-section (1) of Section 20 of the Real Estate (Regulation and Development) Act, 2016 (16 of 2016) for the purpose of exemption u/s 10(46) of the Income Tax 1961 for specified income arising to that Board
Central Board of Direct Taxes (CBDT) issued Notification No. 107/2024/F. No. 300196/4/2024-ITA-I] VIKAS SINGH, Director ITA-I dated 11.10.2024.
The Bombay high court (HC) on Tuesday held that the Shri Saibaba Sansthan Trust, which administers the famous temple at Shirdi in Maharashtra, was eligible for tax exemption on anonymous donations as it was both a religious and charitable trust.
