Income Tax News

Supreme Court Issues Notice on Plea Challenging Income Tax Exemption for Cash Political Donations up to Rs 2000

25 November 2025 at 06:16

The Supreme Court has issued notice on a petition challenging Section 13A(d) of the Income Tax Act, which allows political parties to accept cash donations up to Rs 2,000 without revealing donor identity.

Posted in Income Tax | 1572 Views

CBDT Releases Time Series Data for FY 2000-01 to FY 2024-25: Direct Tax Collections Jump to Rs 22.26 Lakh Crore

24 November 2025 at 06:57

India's direct tax collections hit a record Rs 22.26 lakh crore in FY 2024-25 as per CBDT data, with the tax-to-GDP ratio rising to 6.73% and taxpayers exceeding 12 crore.

Posted in Income Tax | 2520 Views

Finance Ministry Notifies Voluntary Aadhaar Authentication for PFMS Mobile App Users

22 November 2025 at 09:14

Finance Ministry allows voluntary Aadhaar authentication for PFMS app users with alternative ID options like bank OTP verification.

Posted in Income Tax | 261 Views

Capital Market Bodies Urge STT Cut, Reforms in Pre-Budget Meeting With FM Sitharaman

22 November 2025 at 06:33

Capital market representatives have sought lower STT, market inclusion measures and deeper reforms during a pre-Budget meeting with Finance Minister Nirmala Sitharaman.

Posted in Income Tax | 780 Views

Capital Gains Tax Relief Process Simplified Under New 2025 Amendment Scheme

20 November 2025 at 09:35

The Finance Ministry has notified the Capital Gains Accounts (Second Amendment) Scheme, 2025, introducing digital payments, electronic statements, and mandatory online account closure from April 1, 2027.

Posted in Income Tax | 33108 Views

CBDT Expands Capital Gains Account Scheme: 19 More Banks Authorised Nationwide

20 November 2025 at 09:27

The Central Government has authorised all non-rural branches of 19 major banks including HDFC, ICICI, Axis, Kotak and Bandhan Bank to operate the Capital Gains Account Scheme (CGAS), 1988, easing access for taxpayers seeking capital gains tax exemptions.

Posted in Income Tax | 4191 Views

Unclaimed Money Awareness Drive: Key Camps Scheduled in Mumbai on November 21

20 November 2025 at 09:11

Maharashtra's SLBC will hold special camps on Nov 21 in Mumbai City and Suburban to help citizens verify and claim unclaimed deposits, shares, insurance, and other inactive financial assets.

Posted in Income Tax | 138 Views

CBDT to Notify Simplified ITR Forms by January Ahead of New Income Tax Act Rollout

19 November 2025 at 06:40

The Income Tax Department will notify new simplified ITR forms by January 2025 under the Income Tax Act, 2025, set to take effect from April 1, 2026, to make tax compliance easier for taxpayers.

Posted in Income Tax | 1 comments | 1764 Views

Direct Tax Collections on Track for FY26, Assures CBDT Chairman Ravi Agrawal

19 November 2025 at 06:40

The government expects to achieve FY26 direct tax goals as collections hit Rs 12.92 lakh crore by November 10; refunds likely to be cleared by December.

Posted in Income Tax | 1320 Views

Income Tax Department Raids on Popular Hyderabad Eateries

19 November 2025 at 06:40

Income Tax officials raided Hyderabad's Pista House and Shahgouse Hotel, while the ED searched Al-Falah University in Delhi as part of a terror case probe.

Posted in Income Tax | 258 Views