Income Tax News

Senior Citizens Welfare Fund Interest Rate Fixed at 6.85% for FY 2025-26

09 June 2026 at 09:20

The Ministry of Finance has notified an interest rate of 6.85% on deposits under the Senior Citizens Welfare Fund (SCWF) for the period from April 1, 2025 to March 31, 2026. Read the details of the latest notification.

Posted in Income Tax | 4134 Views

CBDT Releases Guidelines for Compulsory Income Tax Scrutiny During FY 2026-27

08 June 2026 at 09:31

CBDT has issued the guidelines for compulsory selection of income tax returns for complete scrutiny during FY 2026-27. Check the six categories of cases that will face mandatory scrutiny, key compliance requirements and important deadlines.

Posted in Income Tax | 70983 Views

FPI Investments in G-Secs Become Tax-Free Under Income-tax (Amendment) Ordinance, 2026

06 June 2026 at 09:35

The Income-tax (Amendment) Ordinance, 2026 exempts FPIs from tax on interest and capital gains from Government Securities, complementing major reforms to attract foreign investment.

Posted in Income Tax | 7194 Views

Form 40 Mandatory for Claiming Relief on Foreign Pension Accounts under IT Act 2025

05 June 2026 at 09:36

The Income Tax Department has released detailed FAQs on Form 40 under the Income Tax Act 2025. Know who must file it, eligibility conditions, due dates, required documents and how to claim tax relief on foreign retirement benefit accounts.

Posted in Income Tax | 2328 Views

CBDT Notifies Infrastructure Sub-Sectors as Eligible Businesses Under Income Tax Act, 2025

03 June 2026 at 09:27

The Central Board of Direct Taxes (CBDT) has notified infrastructure sub-sector businesses as specified businesses under Schedule V of the Income-tax Act, 2025. The notification takes effect from June 1, 2026.

Posted in Income Tax | 3546 Views

Form No. 27 Under IT Act 2025: CBDT Issues FAQs on Asset Attribution After Firm Reconstitution

02 June 2026 at 09:29

CBDT has released detailed FAQs on Form No. 27 under the Income-tax Act, 2025, explaining filing requirements, valuation rules, compliance obligations, and reporting of capital assets after dissolution or reconstitution of specified entities.

Posted in Income Tax | 3975 Views

Income Tax Department Releases Updated Common Offline Utility for ITR-1, ITR-2 and ITR-4 for AY 2026-27

01 June 2026 at 09:41

The Income Tax Department has released Version 1.1.0 of the Common Offline Utility for filing ITR-1, ITR-2 and ITR-4 for AY 2026-27. Download the latest utility released on May 29, 2026.

Posted in Income Tax | 531 Views

CBDT Clarifies Form 61 Filing Process for Transactions With Notified Jurisdictional Areas Under IT Act, 2025

29 May 2026 at 09:37

CBDT has clarified the rules relating to Form 61 under the Income Tax Act, 2025. Know who must file Form 61, due date, documents required, e-verification process and consequences of non-filing for deduction claims linked to notified jurisdictional areas.

Posted in Income Tax | 4227 Views

Form 52 Mandatory for APA Holders Under Income Tax Act, 2025

29 May 2026 at 09:28

CBDT has introduced Form 52 under the Income-tax Act, 2025 for Advance Pricing Agreement (APA) compliance reporting. Check applicability, filing deadline, mandatory requirements, and major changes from old Form 3CEF.

Posted in Income Tax | 5088 Views

ITR-2 Excel Utility and Online Filing Now Available for AY 2026-27

28 May 2026 at 09:39

Income Tax Department has enabled online filing and Excel Utility for ITR-2 for AY 2026-27 on the e-filing portal. Check eligibility, benefits and filing details.

Posted in Income Tax | 3261 Views