Income Tax News

CBDT Enables Foreign Assets Reporting in AIS: Taxpayers Can Now View CRS/FATCA Data Online

21 July 2026 at 09:48

CBDT has enabled display of foreign asset and income information received under CRS/FATCA in AIS. Taxpayers can now view overseas account and investment data on the Income Tax portal.

Posted in Income Tax | 1 comments | 2727 Views

CBDT Notifies NaBFID 10-Year Zero Coupon Bond Under Income Tax Act, 2025

20 July 2026 at 09:27

CBDT has notified NaBFID's Ten Year Zero Coupon Bond as a Zero Coupon Bond under Section 2(112) of the Income-tax Act, 2025. Check key features, tenure, issue timeline and tax implications.

Posted in Income Tax | 10398 Views

Social Protection Fund Notified as Specified Person Under IT Act 2025 for Tax-Exempt Investments in India

16 July 2026 at 09:45

CBDT has notified Oman’s Social Protection Fund as a specified person under the Income-tax Act, 2025, allowing tax exemption on eligible investments in India until 31 March 2030, subject to compliance conditions.

Posted in Income Tax | 2538 Views

CBDT Notifies Cost Inflation Index (CII) for FY 2026-27 Under Income Tax Act, 2025

16 July 2026 at 09:38

The Central Board of Direct Taxes (CBDT) has officially notified the Cost Inflation Index (CII) for the Financial Year 2026-27 at 384, providing clarity for taxpayers and professionals dealing with capital gains computations under the new Income-tax

Posted in Income Tax | 3357 Views

Direct Tax Collections Rise 16.4% to Rs 6.51 Lakh Crore as on 13th July 2026 for FY 2026-27

15 July 2026 at 09:26

Net direct tax collections for FY 2026-27 rose 16.4% to Rs 6.51 lakh crore as of July 13, 2026, while gross collections increased 16.1%, according to official data.

Posted in Income Tax | 1773 Views

Over 1.7 Crore Taxpayers Filed ITRs for AY 2026-27

13 July 2026 at 09:36

More than 1.7 crore taxpayers have already filed their ITRs for AY 2026-27, with over 10 lakh returns submitted in a single day. File your ITR-1 or ITR-2 before the July 31, 2026 deadline and avoid the last-minute rush.

Posted in Income Tax | 2382 Views

CBDT Notifies TDS Exemption for Specified Payments to IFSC Units Under Income Tax Act 2025

11 July 2026 at 09:34

CBDT notifies TDS exemption on specified payments made to eligible IFSC units under the Income Tax Act, 2025. The relief covers interest, commission, professional fees, dividends, and other notified incomes, effective from April 1, 2026.

Posted in Income Tax | 3132 Views

Income Tax Department Releases ITR-7 Excel Utility for AY 2026-27

11 July 2026 at 09:23

Income Tax Department releases ITR-7 Excel Utility Version 1.0 for AY 2026-27. Eligible trusts, institutions, political parties, and entities can now prepare and file returns under Sections 139(4A), 139(4B), 139(4C), and 139(4D).

Posted in Income Tax | 204 Views

CBDT Authorises DGIT (Systems) to Upload Global Financial Information in AIS Under Income Tax Act, 2025

10 July 2026 at 09:29

CBDT has authorised the Director General of Income-tax (Systems) to upload information received under the Automatic Exchange of Information (AEOI) framework into the AIS through Form No. 168 under the Income-tax Act, 2025.

Posted in Income Tax | 2769 Views

ICAI Invites Public Comments on Revised Guidance Note for Tax Audit under Section 44AB of IT Act 1961

10 July 2026 at 09:17

ICAI has released the Exposure Draft of the revised Guidance Note on Tax Audit under Section 44AB and invited public comments. Submit suggestions by July 25.

Posted in Income Tax | 2271 Views