Income Tax News
ICAI Releases Study on Taxation of Digital Economy and Global Tax Challenges
12 March 2026 at 09:05ICAI releases a detailed study on taxation of the digital economy, examining nexus challenges, digital services taxes and global tax reforms affecting digital businesses.
Income Tax Department Finds Rs 408 Crore Sales Suppression in Restaurants After Nationwide Survey
10 March 2026 at 09:00The Income Tax Department uncovers Rs 408 crore in suppressed sales after surveying 62 restaurants across 46 cities. Under the SAKSHAM NUDGE campaign, 63,000 restaurants have been asked to update their tax returns before 31 March 2026.
Fake Income Tax Raid Busted: Two Youths Posing as Officers Arrested
09 March 2026 at 08:54Two youths posing as Income Tax officers attempted a fake raid at a residence but were caught by Ramnagar police after locals verified their credentials.
CIC Asks Income Tax Department to Fix TDS Mismatch Process, Protect Honest Taxpayers
09 March 2026 at 08:53The Central Information Commission has advised the Income Tax Department to create a taxpayer-friendly mechanism to resolve TDS mismatches between Form 16 and Form 26AS and prevent harassment of honest taxpayers.
Income Tax Rules 2026: Financial Institutions Must Report Crypto and Digital Currency Holdings
07 March 2026 at 06:57CBDT notifies the Income Tax (First Amendment) Rules, 2026 to expand reporting requirements under Rule 114F and 114G. The amendment brings crypto assets, electronic money products and central bank digital currency accounts under financial reporting norms.
ED Arrests Two CAs in Rs 641 Crore Cyber Fraud and Money Laundering Case Under PMLA
06 March 2026 at 09:14ED has arrested CAs Ashok Kumar Sharma and Bhaskar Yadav in a Rs 641 crore cyber fraud and money laundering case under the PMLA.
Charitable Trusts Oppose Mandatory Irrevocable Clause for Tax Exemption Registration
06 March 2026 at 08:11Charitable trusts and tax bodies move the Bombay High Court challenging the Income Tax Department’s insistence on an explicit 'irrevocable' clause in trust deeds for tax exemption registration.
BCAS Flags Concerns Over Finance Bill 2026 Proposals on SGB Taxation, Dividend Rules and TDS Norms
05 March 2026 at 06:56Bombay Chartered Accountants’ Society (BCAS) urges the Finance Ministry to reconsider proposed changes in the Finance Bill 2026 affecting Sovereign Gold Bonds, dividend taxation and TDS rules to protect investors and businesses.
New Draft Format for TDS/TCS Book Adjustment: Full Details, Applicability & Compliance Guide
04 March 2026 at 08:08Income Tax Department releases Draft Form No. 137 for TDS/TCS Book Adjustment Statement. Check structure, DDO reporting rules, compliance requirements, and key updates for Accounts Officers and Government departments.
Rahul Gandhi Demands Rollback of Tax on Disability Pensions, Seeks Higher ECHS Budget from FM Sitharaman
03 March 2026 at 07:19Rahul Gandhi writes to Finance Minister Nirmala Sitharaman seeking withdrawal of income tax on disability pensions under Finance Bill 2026 and immediate funding support for Ex-Servicemen Contributory Health Scheme (ECHS).
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