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Income Tax News


IT Department Sees Record Surge with Over 7.3 Crore ITRs Filed for AY 2025-26

   18 September 2025 at 08:20

A record of over 7.3 crore ITRs were filed by Sept 15. CBDT extended deadline to Sept 16 amid heavy portal traffic and taxpayer complaints of glitches.

Posted in Income Tax |   96 Views


CBDT and its Subordinate Offices to undertake Special Campaign 5.0 for Swachhata and Efficiency

   18 September 2025 at 08:20

Govt launches Special Campaign 5.0 (Oct 2-31, 2025). CBDT to focus on swachhata, e-waste disposal, record management, and grievance redressal.

Posted in Income Tax |   78 Views


CBDT Issues SOP for Taxing Capital Gains on JDAs Under Section 45(5A)

   18 September 2025 at 08:19

CBDT issues SOP for assessing capital gains on Joint Development Agreements under Section 45(5A), adopting the successful Kolkata model nationwide.

Posted in Income Tax |   8376 Views


Income Tax Department Targets CAs in Rs 2000 Crore Political Funding Tax Evasion Case

   16 September 2025 at 08:56

Jharkhand Income Tax Department seeks CBDT approval to cancel licences of chartered accountants involved in facilitating Rs 2000 crore political funding tax evasion.

Posted in Income Tax |   4080 Views


CBDT Grants One-Day Extension for ITR Filing for AY 2025-26 to 16th September 2025

   16 September 2025 at 05:39

CBDT has further extended the ITR filing due date for AY 2025-26. Returns, originally due on July 31 and then September 15, can now be filed till September 16, 2025.

Posted in Income Tax |   4119 Views


Pune Tax Professionals Booked in Rs 500 Crore Bogus ITR Deduction Scam

   12 September 2025 at 09:06

The Income Tax Department has unearthed a Rs 500 crore ITR fraud in Pune, involving bogus deductions and over 10,000 fake returns filed by tax professionals.

Posted in Income Tax |   4245 Views


ICAI Requests FM Sitharaman for Extension of Tax Audit Report Deadline to 31st December 2025

   11 September 2025 at 10:06

ICAI requests extension of tax audit report filing deadline to 31st Dec 2025 due to operational challenges.

Posted in Income Tax |   102141 Views


Poor Dhaba Cook Duped into Bank Fraud, Faces Rs 46 Crore Income Tax Notice

   10 September 2025 at 09:24

A dhaba cook from Bhind, Madhya Pradesh, earning just Rs 10,000 a month, has been hit with a shocking Rs 46 crore income tax notice after being duped into opening a bank account linked to fraudulent transactions.

Posted in Income Tax  1 comments |   6576 Views


Income Tax Act 1961 Repealed from 1st April 2026, Correction Statement Deadline Announced

   10 September 2025 at 08:48

The Income Tax Act, 1961 will be repealed from April 1, 2026, under the new Income Tax Act, 2025. Correction statements for FY 2018-19 to 2023-24 must be filed by March 31, 2026, or they will be time-barred.

Posted in Income Tax |   2949 Views


Excel Utilities for Updated ITR-5, ITR-6, and ITR-7 for AYs 2021-22 & 2022-23 Released

   06 September 2025 at 17:13

The Income Tax Department has announced the release of Excel utilities for filing updated returns in ITR-5, ITR-6, and ITR-7 for the Assessment Years 2021-22 and 2022-23

Posted in Income Tax |   123 Views



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