Income Tax News
Rectification, Assessment and Appeals Under Income Tax Act 2025
17 August 2026 at 09:17Income Tax Act 2025: Understand key rules on rectification, assessment, reassessment and appeals, including timelines, fees and appellate authorities.
CBDT Notifies Foreign Assets of Small Taxpayers-Disclosure Scheme Rules, 2026
17 August 2026 at 09:12CBDT notifies Foreign Assets of Small Taxpayers–Disclosure Scheme Rules 2026, covering eligibility, valuation, tax, penalty, forms, payment timelines and immunity for undisclosed foreign assets.
Key Allowances and Deductions Available to Taxpayers for Tax Year 2026-27
15 August 2026 at 09:06Income Tax Act 2025: Check key allowances, deductions and exemptions for TY 2026-27 covering salaries, HRA, house property, business, capital gains and family pension.
CBDT Issues FAQs on Section 536 Transition Provisions Under Income Tax Act, 2025
15 August 2026 at 09:06CBDT issues FAQs on Section 536 of the Income-tax Act, 2025, clarifying transition rules for summons, searches, assessments, recovery, penalties, TCCs, 12AB/80G and LDC/NDC applications.
Tax Benefits for Senior Citizens in FY 2026-27: Deductions, TDS Relief and ITR Exemptions
14 August 2026 at 09:27Know the tax benefits available to senior and super senior citizens under the Income-tax Act, 2025. Check deductions up to Rs. 1 lakh, TDS relief, interest income benefits, ITR exemptions and advance tax rules.
CBDT Releases Guidance Note on Crypto-Asset Reporting Obligations under Income Tax Act 2025
14 August 2026 at 09:21CBDT has released a Guidance Note on Crypto-Asset Reporting Obligations under the Income Tax Act, 2025.
Taxpayers Beware: PIB Exposes Fake Income Tax Notice Asking for Rs 6000 Payment
13 August 2026 at 09:34PIB Fact Check has warned taxpayers about a fake Income Tax notice demanding ₹6,000. The government has confirmed it is a phishing scam and urged citizens to stay alert.
ITR-7 Online Utility Enabled on Income Tax Portal for AY 2026-27
13 August 2026 at 09:16The Income Tax Department has enabled the online utility for ITR-7 for AY 2026-27. Eligible trusts, institutions, and exempt entities can now file returns on the e-Filing portal.
Direct Tax Collections Jump 23% to Rs 8.11 Lakh Crore as on 10th Aug 2026
12 August 2026 at 09:27India's net direct tax collections rose 23.09% to ₹8.11 lakh crore as on August 10, 2026. Strong growth in non-corporate taxes boosted overall revenue.
CBDT Approves Sir Ganga Ram Trust Society for Scientific Research Tax Benefits Under IT Act, 2025
11 August 2026 at 09:25CBDT has approved Sir Ganga Ram Trust Society, Delhi, for Scientific Research under the Income-tax Act, 2025. The approval is valid from Tax Year 2026-27 to 2030-31, enabling eligible donors to claim tax benefits subject to prescribed conditions.
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