Income Tax News

Excel Utilities for ITR-1 to 7 for AY 2023-24 Released as per Finance Act, 2025

18 October 2025 at 07:15

Income Tax Dept releases Excel Utilities for filing Updated Returns (ITR-1 to 7) for AY 2023-24 as per Finance Act, 2025. Download from e-Filing portal.

Posted in Income Tax | 138 Views

Net Direct Tax Collections Rise 6.3% to Rs 11.89 Lakh Crore as of 12th October 2025

15 October 2025 at 09:32

India's net direct tax collections surged 6.3% to Rs 11.89 lakh crore as of October 12, 2025, driven by steady corporate earnings and lower refunds. Gross collections reached Rs 13.92 lakh crore, per CBDT data.

Posted in Income Tax | 171 Views

Black Money Act Under Review: Tax Department Examines Overlaps with Income Tax Law

15 October 2025 at 06:30

Government reviews Black Money Act; committee to assess harsh penalties, legal overlaps with the Income Tax Act, and challenges in enforcement.

Posted in Income Tax | 1365 Views

Income Tax Refunds Fall Sharply Amid New Fraud Detection Checks by the Tax Department

15 October 2025 at 06:30

Income tax refunds drop 16% as the government tightens fraud detection checks; taxpayers face longer verification for high-value claims.

Posted in Income Tax | 9852 Views

Gujarat High Court Directs CBDT to Extend ITR Filing Deadline for Audit Cases by One Month

14 October 2025 at 07:23

Gujarat High Court directs CBDT to extend ITR filing deadline for audit cases by one month, offering relief to taxpayers and professionals.

Posted in Income Tax | 10596 Views

Income Tax Portal Update: Taxpayers Can Now See When AO or CIT(A) Reviews Their Submissions

14 October 2025 at 06:40

Income Tax Dept updates e-filing portal: Track exactly when AO/CIT(A) views your submissions, enhancing transparency in faceless assessments & appeals.

Posted in Income Tax | 2 comments | 30993 Views

ITAT Reduces Alleged Income of NRI by 97% After Dispute Over Rs 2.28 Crore

14 October 2025 at 06:40

An NRI taxpayer successfully challenged the Income Tax Department after being wrongly assessed Rs 2.28 crore as unexplained income. ITAT Ahmedabad reduced the amount to just Rs 63,133.

Posted in Income Tax | 1335 Views

Fake Income Department Tax Mail Leads to Rs 60 Lakh Cyber Fraud at Ahmedabad Company

14 October 2025 at 06:39

An Ahmedabad firm lost Rs 60 lakh after fraudsters sent a fake Income Tax email, installed malware, and tricked staff via WhatsApp spoofing.

Posted in Income Tax | 1332 Views

NITI Aayog Urges Decriminalisation of Minor Tax Offences Under New Income Tax Act, 2025

13 October 2025 at 06:34

NITI Aayog's new paper urges decriminalising minor offences under the Income-tax Act, 2025, to promote trust-based tax governance. Learn how the proposed reforms aim to simplify compliance and reserve prosecution only for serious tax evasion cases.

Posted in Income Tax | 288 Views

ITAT Mumbai Quashes Rs 1 Crore Tax Demand Over TDS Mismatch, Reaffirms Protection Under Section 205

11 October 2025 at 06:42

ITAT Mumbai rules that TDS credit cannot be denied solely due to mismatch in Form 26AS; upholds Section 205 protection preventing double taxation and directs tax officers to rely on primary evidence.

Posted in Income Tax | 1533 Views