Income Tax News

CBDT Notifies REC Ltd.'s Rs 5,000 Crore Zero Coupon Bond u/s 2(48) of IT Act

03 June 2025 at 09:18

The Ministry of Finance, Department of Revenue, CBDT, has issued Notification No. 52/2025 dated May 30, 2025, formally recognizing the "Ten Year Zero Coupon Bond" issued by REC Ltd. as a zero coupon bond under Clause (48) of Section 2

Posted in Income Tax | 777 Views

CBDT Includes Sikkim in Section 80-IE Tax Deduction via Corrigendum

31 May 2025 at 08:32

CBDT, under the Ministry of Finance, has released a corrigendum to its earlier notification G.S.R. 290(E) dated May 6, 2025, introducing key amendments related to income tax return forms and deductions under Section 80-IE of the Income Tax Act, 1961.

Posted in Income Tax | 2262 Views

Provisional/Unaudited accounts of the Govt of India for FY 2024-2025

31 May 2025 at 08:32

The Accounts of the Government of India for the Financial Year 2024-25 (Provisional/Unaudited) has been consolidated and reports published.

Posted in Income Tax | 375 Views

ITR Filing Begins: Excel Utilities for ITR-1 and ITR-4 Now Available for AY 2025-26

30 May 2025 at 09:19

The Income Tax Department has officially released the Excel utilities for ITR-1 (Sahaj) and ITR-4 (Sugam) for Assessment Year 2025-26, enabling taxpayers to start filing their income tax returns for the financial year 2024-25.

Posted in Income Tax | 3579 Views

CBDT Kicks Off Massive Training Drive Ahead of New Income Tax Bill Implementation

28 May 2025 at 09:15

In anticipation of the landmark Income Tax Bill being passed, the CBDT has launched a detailed implementation program to ensure a seamless transition to the new legal framework.

Posted in Income Tax | 1 comments | 2877 Views

CBDT Extends ITR Filing Due Date from 31st July to 15th September for AY 2025-26

27 May 2025 at 17:08

CBDT has extended the ITR filing deadline for AY 2025-26 from July 31 to September 15, 2025, providing taxpayers additional time to comply with updated return filing requirements.

Posted in Income Tax | 13770 Views

Ministry of Finance Hosts DRT-DRAT Colloquium to Boost Debt Recovery Mechanism

26 May 2025 at 09:27

Department of Financial Services (DFS), Ministry of Finance organises a colloquium of Chairpersons of Debt Recovery

Posted in Income Tax | 327 Views

Relief for Arjun Rampal: Bombay HC Cancels Non-Bailable Warrant in 2019 Tax Evasion Case

24 May 2025 at 11:02

In a major relief for Bollywood actor Arjun Rampal, the Bombay High Court has overturned a non-bailable warrant issued against him in connection with a 2019 tax case.

Posted in Income Tax | 1974 Views

CBDT Notifies Revised Form ITR-U for Filing Updated Returns Under Section 139(8A)

20 May 2025 at 09:02

The Central Board of Direct Taxes (CBDT) has notified the revised Form ITR-U under Notification No. 49/2025, published in the Official Gazette.

Posted in Income Tax | 2883 Views

Aadhaar Authentication Crosses 150 Billion Transactions

17 May 2025 at 06:47

The total number of Aadhaar authentication transactions have crossed 150 billion (15,011.82 Cr) marks, making it a milestone moment in the journey of the Unique Identification Authority of India (UIDAI) and for the broader Aadhaar ecosystem.

Posted in Income Tax | 801 Views