Income Tax News
CBDT Reports Income Tax Refund Time Slashed to 17 Days in 2024 from 93 Days in 2013
16 July 2025 at 09:01India cuts income tax refund time from 93 to 17 days, driven by digital reforms. Refunds surge 474% as taxpayer base and collections rise sharply.
CBDT Notifies Tax Exemption for District Legal Services Authorities in Haryana
15 July 2025 at 08:57CBDT notifies tax exemption under Section 10(46) for District Legal Services Authorities in Haryana for AY 2024-25 to 2028-29, covering income from grants, court orders, fees and bank interest.
Income Tax Department Cracks Down on Fake Deductions: Rs 1045 Crore Claims Withdrawn
15 July 2025 at 08:36The Income Tax Department has launched a massive verification drive targeting fraudulent ITR filings involving bogus deductions under sections 10(13A), 80GGC, 80D, 80G, and others.
CBDT Extends Tax Exemption Timeline for Sovereign Wealth and Pension Funds Till March 31, 2030
12 July 2025 at 08:55CBDT extends tax exemption deadline for SWFs and PFs under Section 10(23FE) to March 31, 2030, boosting long-term infrastructure investment in India.
Income Tax Department Releases Excel Utilities for ITR-2 and ITR-3 for AY 2025-26
11 July 2025 at 10:34The Central Board of Direct Taxes (CBDT) has released the Excel-based offline utilities for Income Tax Return (ITR) Forms 2 and 3 for the Assessment Year (AY) 2025-26.
CBDT Collects Rs 20,000 Crore in Q1 FY2025, Doubles Previous Year's Recovery
11 July 2025 at 09:40The CBDT has collected Rs 20,000 crore in pending tax dues in Q1 of FY2025, doubling last year's figures. With a Rs 1.96 lakh crore target, recovery efforts are set to intensify.
PIB Warns Against Fake e-PAN Card Emails. Income Tax Department Warns of Phishing Scam
10 July 2025 at 09:21PIB warns users against fake e-PAN card emails flagged as phishing scams. The Income Tax Department confirms it never requests personal info via email. Learn how to stay safe and report such fraud.
Ministry of Finance Notifies IREDA Bonds as Long-Term Specified Asset Under Section 54EC of IT Act
10 July 2025 at 08:56The Ministry of Finance has notified bonds issued by the Indian Renewable Energy Development Agency (IREDA) as 'long-term specified assets' under Section 54EC of the Income-tax Act, 1961.
CBDT Mandates Aadhaar OTP for Email, Mobile & PAN Updates
09 July 2025 at 09:20The Income Tax Department has made Aadhaar OTP mandatory for updating contact details and applying for a new PAN from July 1, 2025. Learn about the new rules, deadlines and their implications.
Income Tax Refund Scam Busted: Indians Posing as Foreign Citizens to Evade Tax
08 July 2025 at 08:55The Income Tax Department has uncovered a large-scale scam involving fraudulent refund claims by Indian taxpayers who falsely declared themselves as foreign citizens during IT return filing.
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