Income Tax News

Man Arrested for Posing as Income Tax Officer, Duping Woman of Rs 55.8 Lakh

15 November 2025 at 07:41

A man posing as an Income Tax officer was arrested in Palghar for conducting a fake raid and cheating a woman of Rs 55.8 lakh. Police are searching for his accomplices.

Posted in Income Tax | 846 Views

CBDT Seeks Clarity From MeitY on Tax Incentives for Data Centres Under New Policy

15 November 2025 at 06:44

CBDT has asked MeitY for detailed definitions and eligibility criteria for proposed long-term tax incentives for data centres, citing concerns over misuse and revenue loss.

Posted in Income Tax | 1089 Views

ITAT Bangalore Gives Relief to Landowner in Rs 1.82 Crore Mango Sales Case

14 November 2025 at 06:38

ITAT Bangalore grants relief to landowner after Rs 1.82 crore mango income taxed as unexplained cash credit; tribunal rejects tax department's assumptions.

Posted in Income Tax | 1 comments | 1926 Views

Centre Confident of Meeting Rs 25.2 Lakh Crore Direct Tax Target Despite STT Shortfall

14 November 2025 at 06:38

Despite lower STT collections, the Centre remains confident of achieving its Rs 25.2 lakh crore direct tax target for FY26, driven by strong PIT growth.

Posted in Income Tax | 135 Views

SC Protects Chartered Accountants: Issuing Form 15CB Isn't Money Laundering

13 November 2025 at 06:48

The Supreme Court ruled that a Chartered Accountant cannot be held criminally liable under PMLA for issuing Form 15CB, as the role is limited to confirming tax compliance, not verifying transactions.

Posted in Income Tax | 3336 Views

Direct Tax Collections Grows 7% YoY; Refunds Down 18% in FY 2025-26

13 November 2025 at 06:48

As refunds moderate to Rs 2.42 lakh crore, India's direct tax receipts surged 7% year-on-year to Rs 12.92 lakh crore by November 10, 2025, showing improved collection efficiency.

Posted in Income Tax | 981 Views

CBDT Implements Revised Protocol for India-Belgium Double Taxation Avoidance Agreement

13 November 2025 at 06:48

India notifies the amended DTAA Protocol with Belgium, enhancing tax transparency and mutual assistance from June 26, 2025.

Posted in Income Tax | 282 Views

CBDT Uncovers Rs 9169 Crore Political Donation Laundering Racket Involving CAs and RUPPs

12 November 2025 at 06:36

The CBDT has uncovered a Rs 9,169 crore political donation laundering racket involving Registered Unrecognised Political Parties (RUPPs), CAs and intermediaries who used fake receipts and cash refunds to evade taxes across two assessment years.

Posted in Income Tax | 4323 Views

CBDT Simplifies Process to Correct TDS, Interest and Refund Errors

11 November 2025 at 06:41

Taxpayers will now get faster refunds as CBDT authorizes CPC Bengaluru to correct TDS, TCS, and interest errors instantly under Section 154. The move eliminates long delays and improves tax transparency.

Posted in Income Tax | 5409 Views