Income Tax News
Karnataka State Pollution Control Board Gets Income Tax Exemption on Specified Incomes
03 July 2025 at 08:52In a major relief for the Karnataka State Pollution Control Board (KSPCB), the Central Government has notified income-tax exemption on specific sources of income under Section 10(46) of the Income-tax Act, 1961.
Big Relief for NRIs: US Lowers Proposed Tax on Remittances to India from 5% to 1% in Revised Trump Bill
02 July 2025 at 09:09In a major relief for Indian professionals working in the United States and Non-Resident Indians (NRIs) sending money back home, the revised draft of the One Big Beautiful Bill Act (OBBBA) has slashed the proposed tax rate on remittances to 1%
CBDT Issues Clarification on Waiver of Interest Under Sections 201(1A)(ii) and 206C(7) of Income Tax Act
02 July 2025 at 09:03The Central Board of Direct Taxes (CBDT) has issued Circular No. 8/2025 dated July 1, 2025, to clarify key concerns raised by field officers regarding the waiver of interest under Sections 201(1A)(ii) and 206C(7) of the Income-tax Act, 1961
CBDT Notifies Cost Inflation Index for FY 2025-26 at 376
02 July 2025 at 08:50The Central Board of Direct Taxes (CBDT), via Notification No. 70/2025 dated July 1, 2025, has officially notified the Cost Inflation Index (CII) for the Financial Year 2025-26 as "376".
India to Launch First Nationwide Household Income Survey in 2026 to Tackle Inequality and Tax Gaps
01 July 2025 at 09:15India will launch its first-ever nationwide Household Income Survey in February 2026, offering policymakers comprehensive and direct data on household earnings from salaries, agriculture, business, investments, and informal sector jobs.
Ravi Agrawal Reappointed as CBDT Chairman on Contract Basis Till June 2026
30 June 2025 at 09:13The Appointments Committee of the Cabinet (ACC) has approved the re-appointment of Shri Ravi Agrawal, IRS (IT:88028), as the Chairman of the Central Board of Direct Taxes (CBDT).
IT Department Flags 1.65 Lakh ITRs for Scrutiny in AY 2025 - 3X Surge Over Previous Years
30 June 2025 at 09:13The Income Tax Department has selected around 1.65 lakh cases for scrutiny assessment for AY 2025, marking a significant rise from previous years.
CBDT Directs Tax Officers to Ensure 'Application of Mind' in Scrutiny Notices, Avoid Irrelevant Queries
28 June 2025 at 09:16The Central Board of Direct Taxes (CBDT) has issued a directive to Income Tax Department officials across India, emphasizing the need for "due application of mind" while issuing scrutiny notices.
Finance Ministry May Amend Income Tax Bill 2025 to Restore Section 80M for 22% Tax Regime
28 June 2025 at 09:12The Ministry of Finance is expected to amend the draft Income Tax Bill, 2025, to reinstate Section 80M benefits for companies opting for the 22% concessional tax regime under Section 115BAA.
31 Banks Now Available for Tax Payments via e-Filing Portal
27 June 2025 at 09:23The Income Tax Department has expanded the list of banks available on the e-Filing portal's e-Pay Tax service to 31.
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