Income Tax News

Government Fixes Major Security Flaw in Income Tax Portal, Prevents Data Leak

09 October 2025 at 06:50

Government averts massive data breach by fixing a security flaw in the Income Tax portal after researchers flagged an IDOR vulnerability exposing taxpayer data...

Posted in Income Tax | 1851 Views

Supreme Court Clarifies Tax on Works Contracts: Printing Materials to Attract Trade Tax

09 October 2025 at 06:49

SC verdict clarifies that goods used in executing printing contracts, including ink and chemicals, fall within the scope of taxable transfers under the U.P. Trade Tax Act, 1948.

Posted in Income Tax | 1812 Views

CBDT Clarifies Gold Jewellery Limits: Pune Households Must Know

09 October 2025 at 06:49

CBDT clarifies how much gold jewellery you can legally own without risking seizure during income tax searches. Learn safe limits for men, married and unmarried women in Pune, documentation rules for excess holdings, and tax implications when selling gold.

Posted in Income Tax | 3744 Views

India's Fiscal Deficit on Track for FY26, but Slowing Tax Revenues Raise Concerns

08 October 2025 at 06:40

India is on track to meet its FY26 fiscal deficit target of 4.4% of GDP, but slowing income tax and GST revenues raise concerns. Analysts flag risks amid government borrowing plans and expenditure trends.

Posted in Income Tax | 180 Views

IT Department Releases Updated ITR-5 and ITR-6 Utilities for AY 2025-26

06 October 2025 at 07:14

CBDT releases updated ITR-5 and ITR-6 utilities for AY 2025-26 on Oct 2, 2025, improving accuracy, validation, and ease of income tax filing.

Posted in Income Tax | 207 Views

Income Tax Department to Launch Nudge Campaign on Joint Development Agreements

04 October 2025 at 06:54

The Income Tax Department plans a nudge campaign targeting landowners under joint development agreements (JDAs) who have not paid capital gains tax.

Posted in Income Tax | 2730 Views

Gujarat High Court Questions CBDT Over Non-Extension of ITR Deadline for FY 2024-25

04 October 2025 at 06:54

Gujarat High Court seeks explanation from CBDT on why the ITR filing deadline for FY 2024-25 was not extended, even after the tax audit report deadline was postponed to October 31, 2025. Further hearing scheduled for October 6.

Posted in Income Tax | 3453 Views

FIU-IND Issues Notices to 25 Offshore Crypto Exchanges for PMLA Non-Compliance

02 October 2025 at 07:50

FIU-IND has issued notices to 25 offshore Virtual Digital Asset Service Providers, including Huione, Paxful, CEX.IO, and BitMex, for non-compliance under the PMLA, 2002.

Posted in Income Tax | 1224 Views

ICAI Releases Income Tax Act, 2025: A Simplified Tax Framework Unveiled

29 September 2025 at 09:33

The ICAI has launched the Income Tax Act, 2025, replacing the 1961 Act with a simplified, taxpayer-friendly framework effective April 1, 2026.

Posted in Income Tax | 11487 Views

Two Income Tax Officials Jailed 4 Years for Rs 15 Lakh Bribe

29 September 2025 at 09:11

Two Income Tax officials sentenced to 4 years in jail for accepting ₹15 lakh bribe in Jodhpur CBI court; jeweller acquitted due to insufficient evidence.

Posted in Income Tax | 2307 Views