Income Tax News
All Rules Under New Income Tax Law to be Notified by 31st December 2025
20 October 2025 at 07:16The government plans to notify all rules under the new income tax law by December 31, 2025, through a single consolidated notification.
Excel Utilities for ITR-1 to 7 for AY 2023-24 Released as per Finance Act, 2025
18 October 2025 at 07:15Income Tax Dept releases Excel Utilities for filing Updated Returns (ITR-1 to 7) for AY 2023-24 as per Finance Act, 2025. Download from e-Filing portal.
Net Direct Tax Collections Rise 6.3% to Rs 11.89 Lakh Crore as of 12th October 2025
15 October 2025 at 09:32India's net direct tax collections surged 6.3% to Rs 11.89 lakh crore as of October 12, 2025, driven by steady corporate earnings and lower refunds. Gross collections reached Rs 13.92 lakh crore, per CBDT data.
Black Money Act Under Review: Tax Department Examines Overlaps with Income Tax Law
15 October 2025 at 06:30Government reviews Black Money Act; committee to assess harsh penalties, legal overlaps with the Income Tax Act, and challenges in enforcement.
Income Tax Refunds Fall Sharply Amid New Fraud Detection Checks by the Tax Department
15 October 2025 at 06:30Income tax refunds drop 16% as the government tightens fraud detection checks; taxpayers face longer verification for high-value claims.
Gujarat High Court Directs CBDT to Extend ITR Filing Deadline for Audit Cases by One Month
14 October 2025 at 07:23Gujarat High Court directs CBDT to extend ITR filing deadline for audit cases by one month, offering relief to taxpayers and professionals.
Income Tax Portal Update: Taxpayers Can Now See When AO or CIT(A) Reviews Their Submissions
14 October 2025 at 06:40Income Tax Dept updates e-filing portal: Track exactly when AO/CIT(A) views your submissions, enhancing transparency in faceless assessments & appeals.
ITAT Reduces Alleged Income of NRI by 97% After Dispute Over Rs 2.28 Crore
14 October 2025 at 06:40An NRI taxpayer successfully challenged the Income Tax Department after being wrongly assessed Rs 2.28 crore as unexplained income. ITAT Ahmedabad reduced the amount to just Rs 63,133.
Fake Income Department Tax Mail Leads to Rs 60 Lakh Cyber Fraud at Ahmedabad Company
14 October 2025 at 06:39An Ahmedabad firm lost Rs 60 lakh after fraudsters sent a fake Income Tax email, installed malware, and tricked staff via WhatsApp spoofing.
NITI Aayog Urges Decriminalisation of Minor Tax Offences Under New Income Tax Act, 2025
13 October 2025 at 06:34NITI Aayog's new paper urges decriminalising minor offences under the Income-tax Act, 2025, to promote trust-based tax governance. Learn how the proposed reforms aim to simplify compliance and reserve prosecution only for serious tax evasion cases.
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