Income Tax News
CBDT and its Subordinate Offices to undertake Special Campaign 5.0 for Swachhata and Efficiency
18 September 2025 at 08:20Govt launches Special Campaign 5.0 (Oct 2-31, 2025). CBDT to focus on swachhata, e-waste disposal, record management, and grievance redressal.
CBDT Issues SOP for Taxing Capital Gains on JDAs Under Section 45(5A)
18 September 2025 at 08:19CBDT issues SOP for assessing capital gains on Joint Development Agreements under Section 45(5A), adopting the successful Kolkata model nationwide.
CBDT Grants One-Day Extension for ITR Filing for AY 2025-26 to 16th September 2025
16 September 2025 at 05:39CBDT has further extended the ITR filing due date for AY 2025-26. Returns, originally due on July 31 and then September 15, can now be filed till September 16, 2025.
Income Tax Department Targets CAs in Rs 2000 Crore Political Funding Tax Evasion Case
16 September 2025 at 08:56Jharkhand Income Tax Department seeks CBDT approval to cancel licences of chartered accountants involved in facilitating Rs 2000 crore political funding tax evasion.
Pune Tax Professionals Booked in Rs 500 Crore Bogus ITR Deduction Scam
12 September 2025 at 09:06The Income Tax Department has unearthed a Rs 500 crore ITR fraud in Pune, involving bogus deductions and over 10,000 fake returns filed by tax professionals.
ICAI Requests FM Sitharaman for Extension of Tax Audit Report Deadline to 31st December 2025
11 September 2025 at 10:06ICAI requests extension of tax audit report filing deadline to 31st Dec 2025 due to operational challenges.
Poor Dhaba Cook Duped into Bank Fraud, Faces Rs 46 Crore Income Tax Notice
10 September 2025 at 09:24A dhaba cook from Bhind, Madhya Pradesh, earning just Rs 10,000 a month, has been hit with a shocking Rs 46 crore income tax notice after being duped into opening a bank account linked to fraudulent transactions.
Income Tax Act 1961 Repealed from 1st April 2026, Correction Statement Deadline Announced
10 September 2025 at 08:48The Income Tax Act, 1961 will be repealed from April 1, 2026, under the new Income Tax Act, 2025. Correction statements for FY 2018-19 to 2023-24 must be filed by March 31, 2026, or they will be time-barred.
Excel Utilities for Updated ITR-5, ITR-6, and ITR-7 for AYs 2021-22 & 2022-23 Released
06 September 2025 at 17:13The Income Tax Department has announced the release of Excel utilities for filing updated returns in ITR-5, ITR-6, and ITR-7 for the Assessment Years 2021-22 and 2022-23
ITR-5 Offline Utility for AY 2025-26 Now Available for Filing
06 September 2025 at 17:08The Income Tax Department has released the offline utility for ITR-5 for AY 2025-26, enabling firms, LLPs, AOPs, and trusts to file returns easily.
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