The Central Board of Direct Taxes (CBDT) has issued Circular No. 05/2025, providing relief to taxpayers facing interest levies under Section 201(1A)(ii) and Section 206C(7) of the Income-tax Act, 1961.
The Income Tax Department has released the latest versions of Excel-based utilities and schemas for various Income Tax Returns (ITR) and audit report forms.
In a significant announcement, the Finance Ministry has categorically ruled out any plans to abolish the Long-Term Capital Gains (LTCG) tax, despite recent market downturns that saw investors losing over Rs 74 lakh crore.
The Central Board of Direct Taxes (CBDT) has issued the Income-tax (Seventh Amendment) Rules, 2025, introducing key changes to the Income-tax Rules, 1962
The Investigation Wing of the Income Tax Department has uncovered a large-scale tax fraud during simultaneous surprise raids conducted across Tamil Nadu, including the four southern districts.
The Government of India has clarified that Income Tax officials will not have unrestricted access to personal emails, social media, or bank accounts of taxpayers.
In a significant revelation, Finance Minister Nirmala Sitharaman disclosed that tax authorities successfully uncovered Rs 200 crore worth of tax evasion using WhatsApp messages as evidence.
Supplementary FAQs on the Finance Bill, 2025
CBDT Notifies Sixth Amendment to Income-Tax Rules, 2025Key Highlights of Notification No. 21/2025The Central Board of Direct Taxes (CBDT) has issued Notification No. 21/2025 on March 25, 2025, amending the Income-tax Rules, 1962.
The Lok Sabha on Tuesday passed the Finance Bill, 2025, incorporating 35 government amendments, marking a significant step in the Budget approval process.
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