Income Tax News

Income Tax Bill 2025: Key Tax Reforms & New Rules Effective from April 2026

12 February 2025 at 12:39

The Indian government has introduced a new Income Tax Bill, replacing the Income Tax Act, 1961, which has undergone multiple amendments over the decades.

Posted in Income Tax | 2 comments | 8379 Views

Income Tax Department Launches New Tax Calculator as per Finance Bill 2025

12 February 2025 at 07:14

The Income Tax Department of India has introduced a new Section 115BAC Tax Calculator in line with the provisions of the Finance Bill 2025.

Posted in Income Tax | 4437 Views

CBDT Enhances Tax Compliance for Non-Residents: Form 49C Filing Rules Amended

12 February 2025 at 07:13

The Central Board of Direct Taxes (CBDT) has issued Notification No. 14/2025, amending the Income-tax Rules, 1962, to enhance compliance and reporting requirements for non-resident entities operating liaison offices in India.

Posted in Income Tax | 2793 Views

CBDT Grants Tax Exemption to Bhaikaka University for Scientific Research u/s 35(1)(ii) of IT Act 1961

12 February 2025 at 07:13

The Central Board of Direct Taxes (CBDT) has granted approval to Bhaikaka University, Anand, Gujarat, for tax exemption under Section 35(1)(ii) of the Income-tax Act, 1961.

Posted in Income Tax | 264 Views

New Income Tax Bill to Simplify Tax Laws & Improve Compliance: Set for Parliamentary Review

11 February 2025 at 08:58

The government is set to introduce a new Income Tax Bill aimed at simplifying tax laws, reducing compliance burdens, and modernizing tax administration. Union Finance Minister Nirmala Sitharaman is expected to present the bill this week, after which

Posted in Income Tax | 3447 Views

CBDT Amends IT Rules 2025: New Investment & Compliance Norms for Infrastructure Debt Funds

10 February 2025 at 08:49

The Central Board of Direct Taxes (CBDT) has issued the Income-tax (Third Amendment) Rules, 2025, introducing crucial updates to Rule 2F of the Income-tax Rules, 1962.

Posted in Income Tax | 1764 Views

Union Cabinet Approves New Income Tax Bill: Key Highlights and Expected Changes

08 February 2025 at 09:02

The Union Cabinet on Friday approved the new Income Tax Bill, as per sources. The bill is set to replace the Income Tax Act, 1961 and aims to simplify and modernize India's tax system while making compliance easier for taxpayers.

Posted in Income Tax | 4419 Views

Hyderabad IT Professionals Caught in Rs 110 Crore Tax Refund Scam Using Fake Political Donations

08 February 2025 at 08:52

The Income Tax department in Hyderabad has uncovered a massive tax fraud scheme involving IT professionals who falsely claimed tax refunds by making fraudulent donations to registered unrecognised political parties (RUPPs).

Posted in Income Tax | 2262 Views

Income Tax Cut Signals Strong Economy, Says FM Nirmala Sitharaman

08 February 2025 at 08:52

Income Tax Cut Signals Strong Economy, Says FM Nirmala Sitharaman

Posted in Income Tax | 453 Views

CBI Books IRS Officer, 6 CAs for Leaking Sensitive Faceless Assessment Data

08 February 2025 at 08:52

CBI on Thursday conducted searches across 18 locations nationwide after registering a case against an Indian Revenue Service (IRS) officer and several Income Tax (IT) officials for allegedly sharing sensitive data related to pending tax assessments

Posted in Income Tax | 2598 Views