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Income Tax Exemption

Over 1.22 Crore Taxpayers in NIL Tax Bracket in FY 2025-26: Govt Data Reveals Trends

The Finance Ministry, recently shared the data of nil taxpayers in the Lok Sabha. The data revealed that over 1.22 crore taxpayers reported zero tax...

Delay in filing Income Tax Form 10B Condoned as Charitable Trust was Preoccupied with Foreign...

Ex-BSNL Employees Absorbed from DoT Treated as Central Govt. Retirees for Income Tax Exemption on...

Notices Issued to Senior Execs Earning Over Rs. 50 Lakh for Alleged Misuse of Income Tax Exemptions

Karnataka HC Quashes CBDT’s Rejection of University’s Income Tax Exemption Request, Directs Fresh...

Budget 2026: FM Proposes Income Tax Exemption on Compensation from Compulsory Land Acquisition Under RFCTLARR Act [Read Finance Bill 2026]

The Union Budget for the Financial Year 2026-27 was presented by Finance Minister Nirmala Sitharaman in the Lok Sabha today (Sunday, 1 February 2026). The Finance Minister has proposed providing...

No Sufficient Cause to Revise Income Tax Exemption Order after 7 Years: Supreme Court Backs Telangana HC in Tata Projects Case [Read Order]

The Supreme Court of India recently declined to interfere with a ruling by the Telangana High Court where it was found that an application filed by Tata Projects seeking revision of an income tax...

CBDT Grants S.10(46A) Income Tax Exemption to Punjab Urban Planning and Development Authority

The Central Board of Direct Taxes (CBDT), under the Ministry of Finance through a Gazette Notification issued on December 15, 2025, has granted income tax exemption to the Punjab Urban Planning and...

Bombay HC Refuses Interim Relief to Same-Sex Couple Alleging Discrimination in Income Tax Exemption

The Bombay High Court refused to grant interim relief to a same-sex couple challenging the constitutional validity of Section 56(2)(x) of the Income Tax Act, which they claimed discriminates...

CIT(E) Cannot Reject 12AB & 80G Income Tax Exemption Applications without Considering Compliance Documents: ITAT [Read Order]

The Ahmedabad Benchof the Income Tax Appellate Tribunal in a recent case held that the Commissioner of Income Tax (Exemption) had erred in rejecting renewal applications under Section...

Supreme Court Dismisses Plea Against Expanded Definition of “Sikkimese”, Rules Change Limited to Income Tax Exemption Purpose Only [Read Order]

In a recent ruling, the Supreme Court of India dismissed a plea challenging the expanded definition of “Sikkimese” under Section 10(26AAA) of the Income Tax Act, 1961, and clarified that the change...

CBDT Grants Income Tax Exemption to Chandigarh High Court Legal Services Committee on Costs, Grants & Bank Interest [Read Notification]

The Central Board of Direct Taxes (CBDT) has notified income tax exemption for the High Court Legal Services Committee, Chandigarh on specified income under Section 10(46) of the Income-tax Act,...