Income Tax News

Provisional/Unaudited accounts of the Govt of India for FY 2024-2025

31 May 2025 at 08:32

The Accounts of the Government of India for the Financial Year 2024-25 (Provisional/Unaudited) has been consolidated and reports published.

Posted in Income Tax | 348 Views

ITR Filing Begins: Excel Utilities for ITR-1 and ITR-4 Now Available for AY 2025-26

30 May 2025 at 09:19

The Income Tax Department has officially released the Excel utilities for ITR-1 (Sahaj) and ITR-4 (Sugam) for Assessment Year 2025-26, enabling taxpayers to start filing their income tax returns for the financial year 2024-25.

Posted in Income Tax | 3573 Views

CBDT Kicks Off Massive Training Drive Ahead of New Income Tax Bill Implementation

28 May 2025 at 09:15

In anticipation of the landmark Income Tax Bill being passed, the CBDT has launched a detailed implementation program to ensure a seamless transition to the new legal framework.

Posted in Income Tax | 1 comments | 2877 Views

CBDT Extends ITR Filing Due Date from 31st July to 15th September for AY 2025-26

27 May 2025 at 17:08

CBDT has extended the ITR filing deadline for AY 2025-26 from July 31 to September 15, 2025, providing taxpayers additional time to comply with updated return filing requirements.

Posted in Income Tax | 13758 Views

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 | 327 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 | 1971 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 | 2883 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 | 801 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 | 471 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 | 2181 Views