India’s FY26 growth likely above 6.8%, says CEA; GST cuts, tax relief, and trade deal hopes lift economic outlook.
India's tax reforms from SEP to VDA taxation show global leadership in fair, transparent, and equitable digital economy taxation, says CBDT official.
Principal Commissioner Raman Chopra said India’s next phase of tax reforms will focus on achieving multilateral certainties, simplifying compliance, and deepening taxpayer trust through data-driven and non-intrusive administration.
CBDT has notified tax exemptions for the Haryana Building and Other Construction Workers Welfare Board and Ayodhya Vikas Pradhikaran under Section 10 of the Income-tax Act, recognizing their welfare and development roles.
As per CBDT Notification S.O. 5053(E), a 1% variation is allowed for wholesale trading and 3% for all other cases under Section 92C of the Income Tax Act, ensuring consistency in transfer pricing compliance.
Aishwarya Rai Bachchan wins Rs 4 crore income tax case at ITAT Mumbai as the tribunal rules in her favour on Section 14A disallowance. The judgment clarifies how tax officers must record satisfaction before applying Rule 8D on exempt income expenses.
ICAI, in its Pre-Budget 2026-27 suggestions, has proposed optional joint taxation for married couples to promote fairness and family welfare.
CBDT grants income tax exemption to Karnataka Housing Board under Section 10(46A) of the Income Tax Act, effective from AY 2024-25. The notification ensures no adverse impact from its retrospective application.
The Income Tax Department has withdrawn its Rs 8,500 crore transfer pricing case against Vodafone India Services Pvt. Ltd., ending a decade-long dispute linked to a 2008 business restructuring.
The Income Tax Department warns taxpayers against fake emails and SMS phishing scams impersonating official communication.
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