Income Tax News

Ministry of Finance Hosts DRT-DRAT Colloquium to Boost Debt Recovery Mechanism

26 May 2025 at 09:27

Department of Financial Services (DFS), Ministry of Finance organises a colloquium of Chairpersons of Debt Recovery

Posted in Income Tax | 432 Views

Relief for Arjun Rampal: Bombay HC Cancels Non-Bailable Warrant in 2019 Tax Evasion Case

24 May 2025 at 11:02

In a major relief for Bollywood actor Arjun Rampal, the Bombay High Court has overturned a non-bailable warrant issued against him in connection with a 2019 tax case.

Posted in Income Tax | 2052 Views

CBDT Notifies Revised Form ITR-U for Filing Updated Returns Under Section 139(8A)

20 May 2025 at 09:02

The Central Board of Direct Taxes (CBDT) has notified the revised Form ITR-U under Notification No. 49/2025, published in the Official Gazette.

Posted in Income Tax | 3012 Views

Aadhaar Authentication Crosses 150 Billion Transactions

17 May 2025 at 06:47

The total number of Aadhaar authentication transactions have crossed 150 billion (15,011.82 Cr) marks, making it a milestone moment in the journey of the Unique Identification Authority of India (UIDAI) and for the broader Aadhaar ecosystem.

Posted in Income Tax | 870 Views

CBDT Notifies Exemption Allowing Indian Bank's Increased Shareholding in ASREC

15 May 2025 at 09:09

The Ministry of Finance has issued a notification granting Indian Bank a temporary exemption under the Banking Regulation Act, 1949, allowing it to continue holding over 30% stake in ASREC (India) Limited until March 31, 2026.

Posted in Income Tax | 612 Views

CBDT Classifies IRFC's Rs 10,000 Crore Bond as Zero Coupon Bond for Tax Purposes

15 May 2025 at 09:05

The Ministry of Finance, through the Central Board of Direct Taxes (CBDT), has notified the "Ten Year Zero Coupon Bond" of the Indian Railway Finance Corporation Ltd.

Posted in Income Tax | 2328 Views

CBDT Grants Tax Exemption to Telangana State Pollution Control Board Under Section 10(46)

14 May 2025 at 09:03

CBDT, under the Ministry of Finance, has notified the Telangana State Pollution Control Board (TSPCB) as a tax-exempt entity under clause (46) of section 10 of the Income-tax Act, 1961.

Posted in Income Tax | 417 Views

CBI Arrests Income Tax Commissioner and 4 Others in Rs 70 Lakh Bribery Case

12 May 2025 at 08:56

CBI has arrested Jeevan Lal Lavidiya, Commissioner of Income Tax (Exemption), Hyderabad, for allegedly accepting a bribe of Rs 70 lakh to favour a tax appeal related to Shapoorji Pallonji Group.

Posted in Income Tax | 2796 Views

CBDT Notifies New ITR-7 Form for AY 2025-26

12 May 2025 at 08:53

The Central Board of Direct Taxes (CBDT) has notified the amended Income-tax Return Form ITR-7 through Notification No. 46/2025, published in the Gazette of India on May 9, 2025.

Posted in Income Tax | 3123 Views

CBDT Tightens Scrutiny of Top Advance Tax Payers to Curb Bogus Exemption Claims in FY 2025-26

08 May 2025 at 09:05

CBDT has instructed income-tax officials across the country to intensify monitoring of top advance tax payers, including both individuals and corporates, for bogus claims of exemptions and deductions.

Posted in Income Tax | 3870 Views