Income Tax News
CBDT Issues Notices Over Crypto Tax Evasion: Section 115BBH Violations Under Scanner
14 June 2025 at 09:24The Central Board of Direct Taxes (CBDT) has intensified its scrutiny of cryptocurrency-linked tax evasion and income laundering, with a new data-driven initiative targeting individuals and entities engaged in Virtual Digital Asset (VDA) transactions
Air India Crash: Tata Group's Rs 1 Crore Ex-Gratia Payment Likely Exempt from Income Tax
13 June 2025 at 10:48Tata Group offers Rs 1 crore compensation per victim's family after AI171 crash. Tax-exempt ex-gratia under Indian law. Nation mourns 242 lives lost.
CBDT Notifies Zero-Coupon Bond Issued by NABARD Worth Rs 19,500 Crore for Income Tax Purposes
13 June 2025 at 09:19CBDT has officially notified a zero-coupon bond issued by the National Bank for Agriculture and Rural Development (NABARD) under clause (48) of Section 2 of the Income-tax Act, 1961.
Income Tax Department Releases Common Offline Utilities for ITR-1 and ITR-4 for AY 2025-26
12 June 2025 at 09:03The Income Tax Department has released the Common Offline Utility (COU) for filing Income Tax Returns (ITR-1 and ITR-4) for the Assessment Year 2025-26
Centre Mulls Tax Relief for Banks on NPA Interest Income
11 June 2025 at 09:20The Indian government is currently reviewing a proposal to amend the Income Tax Act to align the definition of NPAs with that of the RBI - a move that could significantly ease tax burdens for banks and financial institutions.
Income Tax Department Cracks Down on Dubious Political Donation Claims Under Section 80GGC
11 June 2025 at 09:18The Income Tax Department, in a bid to curb misuse of tax deductions on political donations, has intensified scrutiny of claims made under Section 80GGC of the Income Tax Act
CBDT Allows Processing of Pending ITRs for AY 2023-24 Till 30th November 2025
10 June 2025 at 09:22CBDT has issued a directive under Section 119(2)(a) of the Income-tax Act, 1961, allowing the processing of valid electronically filed ITRs for AY 2023-24, even where the original time limit to issue intimation under Section 143(1) has already expired.
IT Dept Begins Crackdown on Inoperative PANs: Rs 10,000 Fine for Each Transaction
09 June 2025 at 09:33The Income Tax Department has launched a stringent crackdown on the use of in-operative Permanent Account Numbers (PANs), warning that individuals using such PANs for financial transactions may face penalties of up to Rs 10,000 per transaction.
Adani Group's Tax Contribution Rises 29% to Rs 74,945 Crore in FY25
07 June 2025 at 09:29Adani Group paid Rs 74,945 crore in taxes and related contributions in FY25 - a 29% increase from last year. The voluntary Tax Transparency Report highlights direct, indirect, and global tax payments.
Income Tax Department Launches 360-Degree Profiling to Track HNIs Underreporting Income
06 June 2025 at 09:08The Income Tax Department, in a significant move to curb tax evasion, has intensified its scrutiny of High Net Worth Individuals (HNIs) suspected of underreporting their income.
Popular News
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