Income Tax News
CBDT Issues Corrigenda to Income Tax Act, 2025
05 September 2025 at 09:36The Ministry of Law & Justice issues corrigenda to the Income-tax Act, 2025, correcting typographical errors and replacing "previous year" with "tax year," ensuring accuracy ahead of its April 1, 2026 rollout.
CBDT Extends Infrastructure Tax Exemption Deadline to March 2030
05 September 2025 at 09:31CBDT issues Circular No. 11/2025 extending the tax-free investment window under Section 10(23FE) from March 2025 to March 2030, boosting infrastructure funding in India.
Income Tax Act, 2025 Explained: Effective Date, Key Reforms & Impact
05 September 2025 at 09:26Income Tax Act, 2025 takes effect from April 1, 2026, simplifying laws, defining 'Tax Year,' recognizing VDAs, and ensuring transparency & digital compliance.
UP Shopkeeper Gets Rs 141 Crore Tax Notice After PAN Misuse for Fake Firms
02 September 2025 at 09:30A grocery shopkeeper in Bulandshahr, UP, was shocked after receiving a Rs 141 crore tax notice when his PAN card was allegedly misused to create fake firms.
CBDT Notifies New Tax Rules: 6-Year Extension Under Section 10(23FE)
02 September 2025 at 08:51CBDT extends tax exemption timelines under Section 10(23FE) by 6 years through the Income-tax (25th Amendment) Rules, 2025, aiding global funds.
Supreme Court Quashes Prosecution, Fines IT Department Rs 2 Lakh for Ignoring CBDT Circulars
01 September 2025 at 09:01Supreme Court quashes prosecution against Vijay Krishnaswami, slams Income Tax Department for ignoring CBDT circulars; imposes Rs 2 lakh cost.
CBDT to Finalise Rules for New Income Tax Act, 2025 by Year-End, Digital Data SOP Soon
28 August 2025 at 09:16CBDT is drafting simplified rules and forms under the Income Tax Act, 2025, set to apply from April 1, 2026. A new SOP for digital data handling during surveys and searches will also be released, alongside the introduction of the 'tax year' concept.
Income Tax Act 2025 Explicitly Empowers Digital Search & Seizure: CBDT Member Clarifies
28 August 2025 at 08:51CBDT Member R.N. Parbat says digital search and seizure under Income Tax Act 2025 is vital to trace hidden income and assets online.
CBDT Panel Recommends Tougher Benami Law With Wider Data Access for IT Department
26 August 2025 at 09:38Centre may tighten Benami law with Aadhaar, property, and vehicle data access for tax officials, stricter rules for shell firms and dummy directors.
Income Tax Raids NGOs Across 6 States, Uncover Rs 800 Crore CSR Fund Misuse
26 August 2025 at 09:21Income Tax raids on NGOs across 6 states expose Rs 800 crore CSR misuse and Rs 10,000 crore bogus remittances abroad; probe still underway.
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