Income Tax News
Income Tax Department Launches 24x7 Control Room to Monitor Unaccounted Cash and Valuables Ahead of Delhi Assembly Elections 2025
09 January 2025 at 09:04Income Tax Department sets up 24x7 Control Room with Toll Free Number to vigil on movement of unaccounted cash, bullion & other valuables to ensure clean and fair Delhi Legislative Assembly Elections, 2025
CBDT Notifies Exemption for IFSC Units from Section 206C(1H) Tax Collection Under Income-tax Act
09 January 2025 at 08:49CBDT has issued a key update via Notification No. 6/2025 dated January 6, 2025, exempting Units of IFSC from being treated as buyers under Section 206C(1H) of the Income-tax Act, 1961.
Income Tax Department Releases Updated Excel-Based Utility for ITR-2 and ITR-3
07 January 2025 at 09:09The Income Tax Department has released the latest Excel-based Utility Version 1.8 for filing Income Tax Returns (ITR-2 and ITR-3), ensuring a smoother and more efficient e-filing process for taxpayers.
Delhi Police Warns Personnel Against Filing Bogus Income Tax Returns
07 January 2025 at 09:03The Delhi Police General Administration (GA) Department has issued a strict directive to its personnel, cautioning them against filing fraudulent income tax (IT) returns by claiming fake deductions.
Ministry of Civil Aviation Denies Digi Yatra Data Sharing with Tax Authorities
06 January 2025 at 08:54The Ministry of Civil Aviation has strongly refuted claims that passenger data from the Digi Yatra app is being shared with Indian tax authorities.
CBDT Issues Key Income Tax Exemptions for Credit Guarantee Entities and IFSC Units
04 January 2025 at 08:57The Central Board of Direct Taxes (CBDT) has issued three significant notifications under the Income-tax Act, 1961, aimed at tax relief and compliance facilitation, effective from January 1, 2025.
Income Tax Department to Update ITR Forms for Section 87A Tax Rebate Claims for FY 2023-24
03 January 2025 at 09:02The Income Tax Department has announced a major relief for resident individuals eligible to claim the Section 87A tax rebate for FY 2023-24 but were unable to do so earlier.
FM Nirmala Sitharaman Defends Tax Policies, Hints at Future Reforms for Middle Class
01 January 2025 at 08:00With Budget 2025 on the horizon, Finance Minister Nirmala Sitharaman has addressed criticisms over taxation policies, offering a robust defense of her government's initiatives while acknowledging the challenges faced by the middle class.
Income Tax Department Dismisses Claims of Using DigiYatra Data to Track Tax Evaders
01 January 2025 at 08:00The Income Tax Department has clarified that it has no plans to use data from the DigiYatra app to monitor tax evasion, addressing speculation fueled by recent media reports.
Pre-Budget 2024-25 Discussions Focus on Tax Relief for Middle Class, Fuel Duty Cuts and Public Capex Push
01 January 2025 at 08:00Tax exemptions for the middle class, reduction in excise duties on petrol and diesel, and an increased focus on public capital expenditure (capex) emerged as key suggestions during Pre-Budget discussions held on Monday.
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