Income Tax News

Charitable and Religious Trusts to Face Stricter Income Tax Scrutiny in FY 2025-26

17 June 2025 at 09:39

The Central Board of Direct Taxes (CBDT) has issued fresh guidelines for compulsory selection of income-tax returns (ITRs) for scrutiny during the 2025-26 assessment year.

Posted in Income Tax | 3123 Views

CBDT Grants Retrospective Tax Exemption to Treasurer Charitable Endowments, Haryana under Section 10(46)

17 June 2025 at 09:30

The Central Board of Direct Taxes (CBDT) under the Ministry of Finance has issued Notification No. 58/2025, dated June 16, 2025, granting tax exemption to Treasurer Charitable Endowments, Haryana, under clause (46) of Section 10 of the Income-tax Act

Posted in Income Tax | 147 Views

CBDT Grants Retrospective Tax Exemption to Haryana RERA, Gurugram Under Section 10(46)

17 June 2025 at 09:26

CBDT, under the Ministry of Finance, has issued Notification No. 57/2025 dated June 16, 2025, granting tax exemption to the Haryana Real Estate Regulatory Authority (HRERA), Gurugram under clause (46) of section 10 of the Income-tax Act, 1961.

Posted in Income Tax | 168 Views

CBDT Notifies Tax Exemption for HP School Education Board Under Section 10(46)

17 June 2025 at 09:20

CBDT, under the Ministry of Finance, has issued Notification No. 59/2025 dated June 16, 2025, granting tax exemption to the Himachal Pradesh Board of School Education (HPBOSE), Dharamshala, under clause (46) of section 10 of the Income-tax Act, 1961.

Posted in Income Tax | 222 Views

Aadhaar OTP Now Mandatory for PAN Registration on Income Tax Portal

16 June 2025 at 09:10

The Income Tax Department has updated the PAN registration process on its official portal, making Aadhaar-based OTP verification mandatory for all individuals registering their Permanent Account Number (PAN) online.

Posted in Income Tax | 3 comments | 4839 Views

FM Sitharaman to Hold High-Level GST, Income Tax and Customs Review Meetings This June

16 June 2025 at 09:00

Finance Minister Nirmala Sitharaman is scheduled to hold a series of high-level review meetings with top officials from the CBIC, CBDT and Customs Departments between June 19 and June 30.

Posted in Income Tax | 246 Views

CBDT Notifies Fresh Guidelines for Compulsory Scrutiny of Income Tax Returns for FY 2025-26

14 June 2025 at 14:26

The Central Board of Direct Taxes (CBDT) has issued comprehensive guidelines for the compulsory selection of income tax returns (ITRs) for complete scrutiny during Financial Year 2025-26.

Posted in Income Tax | 85023 Views

CBDT Issues Notices Over Crypto Tax Evasion: Section 115BBH Violations Under Scanner

14 June 2025 at 09:24

The 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

Posted in Income Tax | 2511 Views

Air India Crash: Tata Group's Rs 1 Crore Ex-Gratia Payment Likely Exempt from Income Tax

13 June 2025 at 10:48

Tata 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.

Posted in Income Tax | 4215 Views

CBDT Notifies Zero-Coupon Bond Issued by NABARD Worth Rs 19,500 Crore for Income Tax Purposes

13 June 2025 at 09:19

CBDT 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.

Posted in Income Tax | 585 Views