Income Tax News
ITAT Mumbai Quashes Rs 1 Crore Tax Demand Over TDS Mismatch, Reaffirms Protection Under Section 205
11 October 2025 at 06:42ITAT Mumbai rules that TDS credit cannot be denied solely due to mismatch in Form 26AS; upholds Section 205 protection preventing double taxation and directs tax officers to rely on primary evidence.
CJI Flags Rs 6.85 Lakh Crore in Pending Income Tax Disputes Before ITAT, Calls for Structural Reforms
11 October 2025 at 06:41Chief Justice of India B.R. Gavai highlights Rs 6.85 lakh crore pending tax disputes before ITAT, urges reforms in appointments, training and consistency to boost tribunal efficiency and credibility.
Government Fixes Major Security Flaw in Income Tax Portal, Prevents Data Leak
09 October 2025 at 06:50Government averts massive data breach by fixing a security flaw in the Income Tax portal after researchers flagged an IDOR vulnerability exposing taxpayer data...
Supreme Court Clarifies Tax on Works Contracts: Printing Materials to Attract Trade Tax
09 October 2025 at 06:49SC 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.
CBDT Clarifies Gold Jewellery Limits: Pune Households Must Know
09 October 2025 at 06:49CBDT 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.
India's Fiscal Deficit on Track for FY26, but Slowing Tax Revenues Raise Concerns
08 October 2025 at 06:40India 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.
IT Department Releases Updated ITR-5 and ITR-6 Utilities for AY 2025-26
06 October 2025 at 07:14CBDT 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.
Income Tax Department to Launch Nudge Campaign on Joint Development Agreements
04 October 2025 at 06:54The Income Tax Department plans a nudge campaign targeting landowners under joint development agreements (JDAs) who have not paid capital gains tax.
Gujarat High Court Questions CBDT Over Non-Extension of ITR Deadline for FY 2024-25
04 October 2025 at 06:54Gujarat 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.
FIU-IND Issues Notices to 25 Offshore Crypto Exchanges for PMLA Non-Compliance
02 October 2025 at 07:50FIU-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.
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