Income Tax News

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 | 3927 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 | 1728 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 | 1317 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 | 246 Views

ITR Refund Delay 2025: CBDT Flags High-Value Claims, Refunds Likely by December

18 November 2025 at 07:07

CBDT says high-value and red-flagged refund claims are causing delays this year. Refunds down 18% due to stricter scrutiny. Most refunds expected by December. Learn what taxpayers should do next.

Posted in Income Tax | 13329 Views

Confusion Over Section 234B Interest: GCCI Demands Clarity in Income Tax Act

17 November 2025 at 06:34

GCCI has urged the government to amend the Income Tax Act after many taxpayers received interest demand notices under Section 234B despite paying dues while filing updated returns.

Posted in Income Tax | 1713 Views

Income Tax Act 2025: CBDT Chairman Instructs Officers to Start Preparations for April 2026 Implementation

17 November 2025 at 06:33

CBDT Chairman Ravi Agrawal has directed tax authorities nationwide to begin preparations for the implementation of the new Income Tax Act 2025, set to replace the 1961 law from April 1, 2026

Posted in Income Tax | 2 comments | 28239 Views

Man Arrested for Posing as Income Tax Officer, Duping Woman of Rs 55.8 Lakh

15 November 2025 at 07:41

A man posing as an Income Tax officer was arrested in Palghar for conducting a fake raid and cheating a woman of Rs 55.8 lakh. Police are searching for his accomplices.

Posted in Income Tax | 804 Views

CBDT Seeks Clarity From MeitY on Tax Incentives for Data Centres Under New Policy

15 November 2025 at 06:44

CBDT has asked MeitY for detailed definitions and eligibility criteria for proposed long-term tax incentives for data centres, citing concerns over misuse and revenue loss.

Posted in Income Tax | 879 Views