Income Tax News

Income Tax Department Clarifies 'Significant Transactions' Emails Sent During Advance Tax e-Campaign for AY 2026-27

14 March 2026 at 15:27

Taxpayers are advised to ignore earlier incorrect emails on significant transactions under the Advance Tax e-Campaign and verify details on the Compliance Portal.

Posted in Income Tax | 12384 Views

Centre Renames Personal Income Tax as Non-Corporate Tax from FY 2025-26

14 March 2026 at 09:07

Government renames Personal Income Tax as Non-Corporate Tax from FY 2025-26. NCT collections reached Rs 12.35 lakh crore in FY 2024-25, growing 18.23%, Finance Ministry informs Rajya Sabha.

Posted in Income Tax | 3903 Views

SBI Life Insurance Company Receives Rs 537.75 Crore Income Tax Demand for FY24

14 March 2026 at 09:02

SBI Life Insurance has received an income tax demand of Rs 537.75 crore for FY24 from the Income Tax Department. The insurer plans to file an appeal against the assessment order.

Posted in Income Tax | 324 Views

President Murmu Urges Tax Officers to Exercise Authority With Humility and Constitutional Values

13 March 2026 at 09:10

President Murmu asked IT officers to balance enforcement with facilitation while ensuring fairness, transparency and efficiency in tax administration.

Posted in Income Tax | 1806 Views

NSE Circular: Brokers Must Disclose Excess STT for FY 2023-24 and Earlier Years

13 March 2026 at 09:10

Following directions from the Income Tax Department of India, NSE has asked brokers and sub-brokers to report excess STT collected and deposit it with interest...

Posted in Income Tax | 1929 Views

ICAI Releases Study on Taxation of Digital Economy and Global Tax Challenges

12 March 2026 at 09:05

ICAI releases a detailed study on taxation of the digital economy, examining nexus challenges, digital services taxes and global tax reforms affecting digital businesses.

Posted in Income Tax | 1167 Views

Income Tax Department Finds Rs 408 Crore Sales Suppression in Restaurants After Nationwide Survey

10 March 2026 at 09:00

The Income Tax Department uncovers Rs 408 crore in suppressed sales after surveying 62 restaurants across 46 cities. Under the SAKSHAM NUDGE campaign, 63,000 restaurants have been asked to update their tax returns before 31 March 2026.

Posted in Income Tax | 4503 Views

Fake Income Tax Raid Busted: Two Youths Posing as Officers Arrested

09 March 2026 at 08:54

Two youths posing as Income Tax officers attempted a fake raid at a residence but were caught by Ramnagar police after locals verified their credentials.

Posted in Income Tax | 2781 Views

CIC Asks Income Tax Department to Fix TDS Mismatch Process, Protect Honest Taxpayers

09 March 2026 at 08:53

The Central Information Commission has advised the Income Tax Department to create a taxpayer-friendly mechanism to resolve TDS mismatches between Form 16 and Form 26AS and prevent harassment of honest taxpayers.

Posted in Income Tax | 4764 Views

Income Tax Rules 2026: Financial Institutions Must Report Crypto and Digital Currency Holdings

07 March 2026 at 06:57

CBDT notifies the Income Tax (First Amendment) Rules, 2026 to expand reporting requirements under Rule 114F and 114G. The amendment brings crypto assets, electronic money products and central bank digital currency accounts under financial reporting norms.

Posted in Income Tax | 2757 Views