Income Tax News

Advance Tax Growth Loses Momentum After Third Instalment

22 December 2025 at 06:40

Advance tax collection grew just over 4% after the third instalment, sharply lower than last year, with non-corporate tax payments declining, income-tax data shows.

Posted in Income Tax | 171 Views

Net Direct Tax Collections Rise 8% in FY 2025-26 Till 17th December

20 December 2025 at 08:09

India's net direct tax collections rose 8% to Rs 17.05 lakh crore in FY 2025-26 (till Dec 17), aided by lower refunds and higher corporate tax inflows.

Posted in Income Tax | 225 Views

Income Tax Department Tracks High-Value Transactions of Non-Filers Using NMS

20 December 2025 at 07:22

Income Tax Department uses NMS, AIS and data analytics to track high-value transactions of non-filers and nudge taxpayers towards voluntary ITR compliance.

Posted in Income Tax | 1566 Views

ITAT Delhi Grants Major Relief to Taxpayer in Section 14A Dispute Over Tax-Free Income

20 December 2025 at 07:20

ITAT Delhi grants major relief to a taxpayer in a Section 14A dispute, ruling that Rule 8D disallowance applies only to investments generating tax-free income.

Posted in Income Tax | 1020 Views

Income Tax Department Flags Transaction Mismatch, Urges Taxpayers to Review AIS Before 31st Dec

19 December 2025 at 09:37

Income Tax Department has sent advisory alerts to taxpayers over ITR-AIS mismatch. Review AIS, revise or file belated return by Dec 31, 2025.

Posted in Income Tax | 2094 Views

Taxpayers Get 31st Dec Deadline: Undisclosed Property, Bank Deposits Under Scanner

19 December 2025 at 07:01

Income Tax Dept detects large-scale under-reporting of property and cooperative bank transactions under SFT. Taxpayers get time till December 31 to file corrected returns.

Posted in Income Tax | 1335 Views

ICAI Releases Updated UDIN Portal Manual: New Features for GST, Tax Audit & Certificates

17 December 2025 at 09:28

ICAI has released the updated UDIN Portal Manual (Version 1.2) with key changes in UDIN generation, PAN validation, bulk UDIN, grievance redressal and real-time verification. Know what's new.

Posted in Income Tax | 6513 Views

Income Tax Department Warns Taxpayers Against Fake Refund Messages and Scam Links

17 December 2025 at 07:09

The Income Tax Department cautions taxpayers against fake refund messages and malicious links, advising citizens to rely only on official e-filing portals and authenticated communication channels to avoid online scams.

Posted in Income Tax | 1125 Views

CBDT Reassigns Jurisdiction of Income Tax Appeals for Search and Survey Cases

17 December 2025 at 07:08

CBDT issues a December 2025 notification reallocating jurisdiction of Commissioners of Income Tax (Appeals) for search, seizure, survey, and penalty cases across India, impacting appeals under Sections 246A and 248 of the Income tax Act.

Posted in Income Tax | 1731 Views

Supreme Court Denies 40% Tax Deduction to Statutory Corporations on Non-Lending Income

15 December 2025 at 06:44

Supreme Court rules that statutory corporations cannot claim the 40% tax deduction under Section 36(1)(viii) on income from dividends, deposits, or service charges, limiting the benefit strictly to profits derived from long-term financing activities.

Posted in Income Tax | 1140 Views